Hueren Biotechnology Approved for 24 Billion Yuan IPO on STAR Market

On July 18, the China Securities Regulatory Commission (CSRC) approved the initial public offering (IPO) registration application for Wuhan Hueren Biotechnology Co., Ltd., allowing the company to list on the Science and Technology Innovation Board, also known as the STAR Market. This decision is a significant milestone for Hueren Biotechnology, which has been working towards securing regulatory approval for its public listing.

Hueren Biotechnology, a pioneering biotechnology company, is set to raise 24 billion yuan through its IPO. The company's innovative focus aligns with the STAR Market's objectives, which include supporting companies that drive technological advancements and contribute to economic growth. The approval of Hueren Biotechnology's IPO registration application is expected to open doors for other biotechnology companies seeking to list on the STAR Market.

The approval process involved a thorough review of Hueren Biotechnology's financials, business model, and growth prospects. The company's successful navigation of this process highlights its readiness for public listing and its commitment to transparency and regulatory compliance. Hueren Biotechnology's core technology includes a global leading plant cell bioreactor technology platform, with an internationally advanced and independently owned rice endosperm cell bioreactor expression system. This system comprises two key technologies: the upstream OryzHiExp platform for high-efficiency recombinant protein expression in rice endosperm cells, and the downstream OryzPur platform for recombinant protein purification.

Hueren Biotechnology's production facilities are located in the Wuhan National Biotechnology Base, also known as the Optics Valley Biotechnology City. The company has already established a commercial-scale production line with an annual capacity of 10 tons of OsrHSA bulk and formulation, which has obtained a drug manufacturing license. Additionally, the company has commenced construction on a new production line with an annual capacity of 120 tons of OsrHSA bulk, along with supporting infrastructure. This project, known as the "Recombinant Human Serum Albumin Industrialization Base Construction Project," covers an area of approximately 70,000 square meters.

The CSRC's approval of Hueren Biotechnology's IPO registration application is a significant development for the company and the broader biotechnology industry. It underscores the STAR Market's role in supporting innovative companies and provides a pathway for Hueren Biotechnology to access public markets and drive growth. The approval is expected to have a positive impact on the company's future prospects and its ability to contribute to the biotechnology sector.