#China #Shanghai #HKEX #Alebund Pharmaceuticals #Renal Innovation

Alebund Pharmaceuticals Makes a Grand Entry on HKEx

On June 29, 2026, Alebund Pharmaceuticals (Jiangsu) Limited proudly announced its listing on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code 09637.HK. Specializing in biopharmaceuticals, particularly kidney disease, Alebund's entry signifies a notable milestone in its journey towards becoming a global leader in renal innovation.

A Promising Offering

Alebund's Global Offering consisted of 56,755,400 H Shares priced at HK$22.60 each. This contained 5,675,600 shares offered to the public in Hong Kong, while the bulk, 51,079,800 shares, was directed toward international investors. Without considering any over-allotment options, the total gross proceeds from this offering reached about HK$1.283 billion (approximately US$164 million). If the over-allotment is fully exercised, this could potentially increase to approximately HK$1.475 billion (around US$189 million). After accounting for offering expenses, it is estimated that Alebund will net approximately HK$1.181 billion from this endeavor.

Following the market opening, Alebund's shares exhibited remarkable performance, skyrocketing by 103.54% to close at HK$46.0. Such a robust market reaction is partly credited to the strong lineup of cornerstone investors, which includes recognized institutions such as GIC, Tencent, and RWG, who collectively subscribed to nearly US$81.5 million in shares, accounting for about 49.78% of the total offering.

Comprehensive Renal Innovation Pipeline

Alebund distinguishes itself with the broadest pipeline targeting kidney disease. Their lead asset, AP301, an oral phosphate binder intended for chronic kidney disease (CKD) patients undergoing dialysis, has successfully completed its Phase III trial in China and is set for a New Drug Application (NDA) to the National Medical Products Administration (NMPA). Furthermore, the Phase III clinical trial in the U.S. is fully enrolled.

AP306, another significant candidate, has already received Breakthrough Therapy Designation from the NMPA. This pan-phosphate transporter inhibitor shows promising results, with Phase II data indicating substantial reductions in serum phosphate levels among patients.

Additionally, Alebund is excited about the development of AP303, a dual PPAR agonist aimed at halting CKD progression. It has showcased promising safety profiles during Phase I trials and has received IND clearance from both the NMPA and the FDA. Following these advancements, the company anticipates starting a Phase II clinical trial for patients suffering from diabetic kidney disease and IgA nephropathy in late 2026.

Addressing Unmet Needs in Kidney Health

The urgency for effective kidney disease treatments is underscored by its prevalence, with over 800 million people affected globally, including nearly 124 million individuals in China. Notably, hyperphosphatemia, a common complication among dialysis patients, affects roughly 76% of this population in China, a stark contrast to similar rates in the U.S. and Japan.

Alebund aims to elevate treatment standards for what Dr. Gavin Xia, Co-founder and CEO, describes as the “silent majority” of kidney disease patients, who have long been overlooked. The company's commitment extends to delivering better quality, more accessible treatment options for these patients around the world.

Commitment to Growth and Innovation

As Alebund progresses, its management highlights the categorical support from government bodies and a dedicated team that has propelled the company to this pivotal moment. Dr. Jin Tian, Co-founder and Chief Medical Officer, expressed a clear intent: to continue innovating and addressing therapeutic challenges in chronic kidney disease through their differentiated product pipeline.

As Alebund Pharmaceuticals forges ahead on the HKEx, it stands at the brink of significant growth, ready to embrace the future and bring impactful therapies to renal disease patients globally.