Ascentage Pharma Officially Included in Shenzhen-Hong Kong Stock Connect Program
SUZHOU, China and ROCKVILLE, Md., Dec. 30, 2020 /PRNewswire/ -- Ascentage Pharma (6855.HK), a globally focused, clinical-stage biotechnology company engaged in developing novel therapies for cancers, chronic hepatitis B (CHB), and age-related diseases, today announced that the company was officially included into the Shenzhen-Hong Kong Stock Connect program (the "Hong Kong Stock Connect"). This was officially announced by the Shenzhen Stock Exchange ("SZSE") on December 25, 2020, which has been effective since December 28, 2020. This inclusion is the very first arrangement for the eligible pre-revenue biotech companies listed under Chapter 18A of Hong Kong's Main Board Listing Rules, and complied with the conditions for the inclusion in the Hong Kong Stock Connect.
The Hong Kong Stock Connect is a collaboration program between the Hong Kong, Shanghai and Shenzhen Stock Exchanges. Stock Connect allows international and China Mainland investors to trade securities in each other's markets through the trading and clearing platforms of their home exchange. In this adjustment, a total of six eligible pre-revenue biotech companies will be the first included in the Hong Kong Stock Connect. The expansion of the eligible stocks of Hong Kong Stock Connect, will further optimize the interconnected, intercommunicated, and mutual development of the capital markets between Mainland China and Hong Kong.
As the first biotech stock specializing in small molecular innovative drugs, Ascentage Pharma has made significant progress in clinical development, external partnership, and patent distribution during the recent one year since its listing, and achieved a number of global collaborations, which is transforming the company from an R&D enterprise for self-innovative new drug to an R&D and manufacturing enterprise. In 2020, Ascentage Pharma made its first New Drug Application (NDA) and was granted priority review by China National Medical Products Administration (NMPA), achieving a significant milestone. During the past six months, the company has kept ahead in the industry, four new drugs have been granted eight Orphan Drug Designation (ODD) by the US Food and Drug Administration (FDA). In August, Ascentage Pharma was included in the Hang Seng Composite Index, the Hang Seng Hong Kong-Listed Biotech Index and the Hang Seng Healthcare Index, which have become effective in September 2020. Only over a year since the listing, Ascentage Pharma was included in the Hang Seng Index as well as the Hong Kong Stock Connect, fully demonstrating that its value for investment and the future prospect are highly recognized in the capital market.
"As one of the first batch of the arranged Chapter 18A companies according to the new regulation, the inclusion of the company is a significant milestone and fully reflects the recognition and confidence in the company's business and development prospects from the capital market, and will facilitate further expansion of our investor base and enhance the liquidity of our stocks," said Dr. Dajun Yang, Chairman & CEO of Ascentage Pharma. "In the future, we will adhere to the innovation strategy and continue strengthening the R&D, and maintaining our leading position in the industry in order to accelerate the global clinical development of our pipelines, We will commit to Ascentage Pharma's mission of 'addressing the unmet clinical needs in China and around the world', benefitting worldwide patients and return to our public shareholders and investors."
About Ascentage Pharma
Ascentage Pharma (6855.HK) is a globally focused, clinical-stage biotechnology company engaged in developing novel therapies for cancers, CHB, and age-related diseases. On October 28, 2019, Ascentage Pharma was listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code: 6855.HK.
Ascentage Pharma focuses on developing therapeutics that inhibit protein-protein interactions to restore apoptosis or programmed cell death. The company has built a pipeline of eight clinical drug candidates, including novel, highly potent Bcl-2, and dual Bcl-2/Bcl-xL inhibitors, as well as candidates aimed at IAP and MDM2-p53 pathways, and next-generation tyrosine kinase inhibitors (TKIs). Ascentage Pharma is also the only company in the world with active clinical programs targeting all three known classes of key apoptosis regulators. The company is conducting more than 40 Phase I/II clinical trials in the US, Australia, and China. HQP1351, the company's core drug candidate developed for the treatment of drug-resistant chronic myeloid leukemia (CML), has been granted an Orphan Drug Designation (ODD) and a Fast Track Designation (FTD) by the US FDA, and a New Drug Application (NDA) for the drug candidate has been submitted in China. To date, Ascentage Pharma has obtained a total of eight ODDs from the US FDA for four of the company's investigational drug candidates.
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SOURCE Ascentage Pharma