HONG KONG, June 23, 2026 — CIC extends our warmest congratulations to HJ Science Co., Ltd. (06132. HK) on its successful listing on the Main Board of the Hong Kong Stock Exchange today.
CIC's Collaborative Journey to the Listing
Throughout the listing process, CIC provided end-to-end support to the company and its sponsors:
Drafted and compiled the industry overview chapter of the prospectus, laying a solid research foundation for the formal listing application.
Assisted in responding to inquiries from regulatory authorities, ensuring comprehensive and accurate disclosure.
Refined listing application materials continuously to meet stringent market and regulatory requirements.
IPO Highlights
The global offering comprises 13.6 million H shares, priced at HK$ 81.80 per share. Total gross proceeds reach approximately HK$ 1.112 billion, assuming the over-allotment option is not exercised.
HJ Science’s Pipeline and Differentiation: Three NMPA Class 1 Novel Drug Candidates
HJ Science is a clinical-stage biotech company focused on autoimmune diseases, metabolic disorders and oncology. It is committed to developing differentiated small-molecule innovative drugs to deliver higher therapeutic value solutions for areas with significant unmet clinical needs. All three of its lead programs — HJ787, HJ178 and HJ891 — are internally discovered Class 1 innovative drugs designated by China’s National Medical Products Administration (NMPA):
HJ787: A topical selective TYK2 inhibitor. As of the latest practicable date, it remains the only asset of its class in clinical development in China, targeting atopic dermatitis and other autoimmune indications.
HJ178: An oral small-molecule dual agonist of GLP-1 and GIP receptors, developed for type 2 diabetes with potential expansion into overweight and obesity indications.
HJ891: A KRAS G12C inhibitor, ranking among a small cohort of candidates globally being developed for first-line use in combination with immunotherapy.
Underpinned by its expertise in precision biological mechanisms and tissue-specific drug distribution, HJ Science has built a proprietary small-molecule R&D platform. Its in-house Tissue-Specific Distribution-Intelligent Analytics System (TSD-IAS) supports pipeline optimization by predicting the in vivo tissue distribution profile of preclinical and clinical candidates.
HJ Science Co., Ltd. listed on HKEX
Market Outlook: Robust Growth Across Core Therapeutic Areas
According to CIC’s industry research, China’s autoimmune, metabolic and oncology sectors are being reshaped by rising patient demand and accelerating adoption of novel therapies, creating significant growth potential for differentiated drug developers:
China’s atopic dermatitis therapeutics market expanded from RMB5.1 billion in 2020 to RMB15.3 billion in 2025, and is on track to reach RMB27.2 billion by 2030.
China’s type 2 diabetes drug market is forecast to grow from RMB67.0 billion in 2025 to RMB113.8 billion by 2030.
China’s anti-obesity drug market is projected to surge from RMB5.2 billion in 2025 to RMB40.8 billion by 2030.
Across chronic disease management, topical immunomodulation, oral metabolic therapies and precision oncology, treatment differentiation — measured by patient adherence, safety profile and clinical efficacy — has become the defining competitive edge for innovative drug makers. HJ Science’s pipeline strategy aligns closely with China’s biopharma industry transition from “target-following” innovation to clinical value-oriented, differentiated drug design.
As a seasoned Industry Consultant, CIC offers services such as market sizing, competitive analysis, and enterprise value verification, etc., with global experience in advising "first-in-sector" IPOs in life science and healthcare.
From IPO preparation to listing hearings, CIC unearths the true intrinsic value of enterprises and translates it into actionable insights for successful capital market landing. Prior to HJ Science, CIC has supported leading enterprises in successful listings both domestically and overseas, including HXPharma, Starsportsmed, Xuanzhu Biopharma, PegBio, Taimei Tech, HighTide Therapeutics, Jiuyuan Gene and Fangzhou, and more.
CIC Reports are now available on Bloomberg and FactSet portals.
About CIC
CIC is a professional consulting firm offering tailored end-to-end support across the full investment and financing lifecycle. The firm boasts a world-leading track record in guiding landmark first-in-sector IPOs across global markets, alongside unrivaled reach and in-depth coverage capabilities across specialized niche market segments.
CIC helps enterprises refine scalable business models and craft compelling capital narratives to enable seamless access to global capital markets, while serving as a trusted due diligence partner to investment institutions. It delivers granular industry insights and direct access to subject matter experts, empowering clients to identify high-value opportunities and mitigate critical risks effectively.
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