December 21st, 2020 - Qiming’s portfolio company Jacobio (SEHK:1167) officially listed on the Main Board of Hong Kong Stock Exchange today. The issue price is HK$14 per share; the stock opens at HK$ 15.98 per share, up 14.14 %, with a market cap of HK$ 12.1 billion.
The listing of Jacobio is the twelfth successful public listing in our portfolio this year. Qiming invested in Jacobio in 2017 as an A round investor and followed on in its C round (2018) and C+ round (2020). Qiming is the largest institutional investor of Jacobio with an ownership of 12.34%.
Founded in 2015, Jacobio is a clinical-stage pharmaceutical company. The company focuses on the in-house discovery and development of globally first-in-class novel oncology therapies. The company strives to provide oncology therapies for global patients. The company’s vision is to develop innovative drugs globally.
The company's R&D centers are located in Beijing and Boston. Its expertise lies in developing allosteric inhibitors against protein tyrosine phosphatase, KRAS and transcriptional factors.
Jacobio’s lead drug development programs include two allosteric SHP2 inhibitors (JAB-3068 and JAB-3312), which have entered clinical-stage in China and the U.S.
Jacobio's SHP2 program has the potential to treat cancer patients across many tumor types. By targeting a key node in both cancer and immune cell signaling pathways, SHP2 inhibition, both as a monotherapy and potentially in combination with other agents, may rapidly advance new treatment options for cancer patients.
Jacobio has entered into a global strategic collaboration with the global biopharmaceutical company AbbVie. The agreement granted AbbVie an exclusive license to the SHP2 portfolio. Jacobio will conduct early global clinical trials of JAB-3068 and JAB-3312 with AbbVie covering R&D expenses.
Jacobio’s lead KRAS inhibitor candidate JAB-21000 has demonstrated encouraging in vivo antitumor effects either as a single agent or in combination with a SHP2 inhibitor. The company plans to file an IND application for JAB-21000 with the U.S. and China’s regulators in the first half of 2021.
Jacobio’s robust pipeline includes JAB-8263,a clinical-stage bromodomain and extra-terminal (BET) inhibitor, and several early-stage drug candidates that target a variety of critical cancer pathways involved in cancer (including RB, immuno-oncology and tumor metabolic pathways).
“Jacobio keeps achieving drug discovery and development milestones with strong innovation capabilities. The company is likely to provide effective and innovative treatments for global cancer patients," said Amy Tang, Venture Partner of Qiming Venture Partners, "As a serial entrepreneur, Dr. Yinxiang Wang and his team built and led the company to IPO in five years. Wang is a visionary professional with a mission to cater to unmet medical needs around the globe."
About Qiming Venture Partners
Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston and the San Francisco Bay Area.
Currently Qiming Venture Partners manages nine US Dollar funds and six RMB funds with over $5.6 billion assets under management. Since our establishment, we have invested in outstanding companies in the TMT and healthcare industries at the early and growth stages.
Since our debut, we have backed over 370 fast-growing and innovative companies. Over 120 companies are already listed on NYSE, NASDAQ, HKEx, Gretai Securities Market, Shanghai Stock Exchange and Shenzhen Stock Exchange, or achieved exit through M&A and other means. There are also over 30 portfolio companies that have achieved unicorn status.
Many of our portfolio companies are today's most influential firms in their respective sectors, including Xiaomi (SEHK:1810), Meituan (SEHK:3690), Bilibili (NASDAQ:BILI), Roborock (SHSE:688169), Gan & Lee Pharmaceuticals (SHSE: 603087), Tigermed (SZSE:300347, SEHK:3347), Zai Lab (NASDAQ:ZLAB, SEHK:9688), Venus MedTech (SEHK:2500), CanSino Biologics (SEHK:6185, SHSE:688185), Schrödinger (NASDAQ:SDGR), Sanyou Medical (SHSE:688085), AmoyDx (SZSE:300685), Berry Genomics (SZSE:000710), SinocellTech (SHSE: 688520), WeDoctor Group, and UBTech among many others.
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