Recently, according to the information disclosed by the Shanghai ** Stock Exchange, PharmaLegacy Biomedical Technology (Shanghai) Co., Ltd. (hereinafter referred to as "PharmaLegacy Biotech") and its sponsor applied for the withdrawal of the listing application documents. As a result, the Shanghai ** Stock Exchange has decided to terminate its review of its initial public offering** and listing on the STAR Market.
According to Bedo Finance, PharmaLegacy submitted a prospectus in March 2023 to prepare for listing on the Science and Technology Innovation Board. In this sprint listing, PharmaLegacy originally planned to raise 60.1 billion yuan will be used for the Jinqiao preclinical R&D service industry base project, the innovative R&D platform project, the Zhangjiang preclinical service industry base technology transformation and upgrading project, and the replenishment of working capital.
According to the prospectus, PharmaLegacy is a preclinical CRO service company, mainly providing CRO services in line with preclinical research, of which the preclinical research services for drug research and development mainly include pharmacodynamic research evaluation and pharmacokinetic research evaluation, and the preclinical research services for medical device research and development mainly provide preclinical efficacy and safety evaluation services for innovative medical devices.
According to Tianyancha information, PharmaLegacy was established in March 2008 and is an enterprise mainly engaged in research and experimental development. Currently, the registered capital of the company is about 37.5 billion yuan, the legal representative is Jifeng Duan, and the shareholders include Pharmalegacy Hong Kong Limited, Sequoia Capital, Hillhouse Venture Capital, Tigermed, CICC, etc.
In the prospectus, PharmaLegacy said that it has built four core technology platforms: immuno-inflammatory pharmacodynamic evaluation platform, tumor immunopharmacodynamic evaluation platform, non-human primate pharmacodynamic evaluation platform, and medical device testing platform, and independently developed the first-generation and second-generation humanized immune system mouse research models and non-human primate research models.
At present, PharmaLegacy has a total of more than 10,000 square meters of experimental facilities in Zhangjiang and Fengxian, Shanghai, including 4,000 square meters of SPF and general animal room facilities, covering a full range of laboratory animals from rodents to non-human primates.
From 2019 to the first three quarters of 2022, PharmaLux's revenue was 6,780550,000 yuan, 11.1 billion yuan, 19.3 billion yuan and 18 billion yuan, net profit was 697140,000 yuan, 1435260,000 yuan, 3660180,000 yuan and 3974020,000 yuan, net profit after deducting non-profit was 689220,000 yuan, 1309810,000 yuan, 3763540,000 yuan and 3745470,000 yuan.
Bedo Finance understands that PharmaLegacy Biologics' revenue is mainly contributed by preclinical CRO for drug R&D. During the reporting period, the company's revenue from preclinical CRO for drug research and development was 607000000000000000000000000000000000840,000 yuan, 15 billion and 13.2 billion yuan, accounting for the main business. 77% and 7491%。
In addition to the revenue from preclinical CRO services for drugs, PharmaLegacy also contributed part of its revenue from preclinical CRO services for medical devices and sales from laboratory animals. Among them, the sales revenue of laboratory animals began to generate in 2021, and the current period was 807700,000 yuan, which increased to 1491 in the first three quarters of 2022970,000 yuan.
In terms of regions, part of PharmaLeg's revenue comes from overseas. During the reporting period, the company's overseas main business income amounted to 2580310,000 yuan, 4291690,000 yuan, 4391280,000 yuan and 4285700,000 yuan, accounting for the proportion of its main business income respectively. 07% and 2431%。
It is worth mentioning that PharmaLegacy has the risk of accounts receivable**. At the end of the reporting period, the company's net accounts receivable were 588290,000 yuan, 1177120,000 yuan, 2,912640,000 yuan and 5,877650,000 yuan, accounting for the proportion of its operating income respectively. 09% and 3268%。
At the end of the reporting period, the carrying value of PharmaLegacy Biologics' inventories was 1075700,000 yuan, 1554810,000 yuan, 2455660,000 yuan and 5175180,000 yuan, accounting for the proportion of total current assets. 80% and 882%, and the inventory scale has increased year by year with the expansion of business scale.