2025.09.22
On September 19, 2025, GenFleet Therapeutics Inc. (Shanghai) (GenFleet Therapeutics, stock code: 2595.HK) was listed on the main board of the Hong Kong Stock Exchange. It is the first Chapter 18A biopharmaceutical company in the IPO phase with a listed product and licensing revenue. The offering was USD 233 million before the exercise of the over-allotment option and could reach USD 268 million if the over-allotment option is fully exercised, setting a new record for Chapter 18A IPOs on the Hong Kong Stock Exchange since 2022.
Founded in 2017, GenFleet Therapeutics develops new treatment solutions in oncology, immunology and inflammatory diseases. It has established a series of innovative drug development pipelines, including eight candidate products, five of which are in clinical development. GenFleet Therapeutics' product GFH925 (fulzerasib, trade name Dabert®) was approved in August 2024 by the China National Medical Products Administration as a Category 1 new drug for the treatment of advanced non-small cell lung cancer (NSCLC), making it the first approved KRAS G12C inhibitor in China and the third globally.
JunHe served as the issuer's China and U.S. patent counsel for the Hong Kong IPO project, providing opinions on patent-related matters, issuing due diligence reports and legal opinions, and assisting in responding to patent-related questions from the Hong Kong Stock Exchange.
The lead partners for GenFleet Therapeutics' Hong Kong IPO were Mr. LI, Chenliang, Ms. WANG, Zhaohui (Zoe) and Mr. ZHAO, Hao (Gerry). The principal lawyers were Ms. WANG, Zhaohui (Zoe), Ms. HUANG, Zunling (Jennifer) and counsel Ms. HE, Zheng (Crystal).
