Deepening Its Commitment to Kidney Disease and Accelerating Toward Becoming a Global Leader in Renal Innovation
SHANGHAI, June 29, 2026 /PRNewswire/ — Alebund Pharmaceuticals (Jiangsu) Limited (“Alebund” or the “Company”; stock code: 09637.HK), a biopharmaceutical company focused on kidney disease, with the broadest pipeline by renal indication coverage, today listed on the Main Board of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”). The Global Offering marks Alebund’s entry into the international capital markets, positioning the Company as a scarce, innovation-driven renal-focused asset in Hong Kong’s capital market.
The Global Offering comprised a total of 56,755,400 H Shares at an Offer Price of HK$22.60 per Offer Share, consisting of 5,675,600 H Shares under the Hong Kong Public Offering and 51,079,800 H Shares under the International Offering. Without taking into account any exercise of the Over-allotment Option (the “Greenshoe”), total gross proceeds amounted to approximately HK$1.283 billion (approximately US$164 million). If the Over-allotment Option (up to 8,513,300 H Shares) is exercised in full, the total gross proceeds will increase to approximately HK$1.475 billion (approximately US$189 million). After deducting offering expenses, the Company estimates that the net proceeds from the Global Offering will be approximately HK$1.181 billion.
Following the market open today, Alebund’s shares show strong performance; as of the close, the share price rose 103.54%, closing at HK$46.0 per share.
The Global Offering attracted a strong line-up of cornerstone investors, including GIC, Loomis Sayles, RTW, SymBiosis, Tencent, Cormorant, Dymon Asia, GF Fund, China Universal, E Fund and Loyal Valley Capital, among other renowned institutions. The cornerstone investors subscribed for a total of approximately US$81.5 million (approximately HK$639 million), representing approximately 49.78% of the shares offered under the Global Offering. The International Offering was approximately 19.77 times oversubscribed, and the Hong Kong Public Offering was approximately 963.56 times oversubscribed, reflecting enthusiastic demand. The strong cornerstone line-up and robust market response fully demonstrate the global capital markets’ high recognition of the scarcity value of Alebund’s innovative renal pipeline, as well as their firm confidence in the Company’s core value and long-term development potential.
A Broad and Well-Balanced Renal Innovation Pipeline
Alebund has built the industry’s broadest pipeline in terms of kidney disease indication coverage:
- AP301 is a best-in-class oral phosphate binder for hyperphosphatemia in chronic kidney disease (CKD) patients on dialysis, with its registrational Phase III trial in China having met the primary endpoint, a New Drug Application (NDA) to the National Medical Products Administration (NMPA) planned for the near future, and its China-U.S. Phase III multi-regional clinical trial (MRCT) having completed enrollment.
- AP306 is a first-in-class pan-phosphate transporter inhibitor that has received Breakthrough Therapy Designation (BTD) from the NMPA and whose rights outside Chinese Mainland, Hong Kong, Macau and Taiwan have been licensed to R1 Therapeutics. China Phase II data demonstrated monotherapy reducing mean serum phosphate by 2.51 mg/dL from baseline and approximately 95% of patients achieving serum phosphate below 5.5 mg/dL by Week 7-8 (versus approximately 50% for the active control, sevelamer carbonate, in the same trial).
- AP303 is a first-in-class, differentiated dual PPAR agonist designed to delay or halt the progression of CKD across potential indications including diabetic kidney disease (DKD) and IgA nephropathy (IgAN), and has received Orphan Drug Designation (ODD) for Autosomal Dominant Polycystic Kidney Disease (ADPKD) from the U.S. FDA. In the completed Phase I trials in Australia and China, AP303 demonstrated favorable safety and was well tolerated in healthy volunteers as well as in patients with DKD, and there was a clear and robust dose-dependent pharmacodynamic (“PD”) signal. Alebund has received IND clearance from the NMPA and the FDA for AP303, and expects to conduct a basket Phase II clinical trial in DKD and IgAN patients in the second half of 2026.
- AP308 is a first-in-class engineered recombinant IgA protease aiming for a functional cure of IgAN. The Company plans to submit an IND to the U.S. FDA and China’s NMPA in the third quarter of 2026 and to enter the clinical development stage.
- The Company’s commercialized renal anemia product Mircera®, a long-acting ESA (erythropoiesis-stimulating agent), continues to gain traction, marking Alebund’s accelerating transition from biotech to biopharma.
Focusing on the “Silent Majority” and Addressing Vast Unmet Needs
Kidney disease is a long-underestimated field with vast unmet clinical needs. There are more than 800 million people living with chronic kidney disease worldwide, including nearly 124 million patients in China. Taking hyperphosphatemia as an example, approximately 76% of dialysis patients in China have uncontrolled serum phosphate levels — far higher than in the United States (52%) and Japan (39%) — reflecting a treatment need that is real, long-term and structural. Alebund firmly focuses on kidney disease, the “silent majority,” committed to providing higher-quality and more accessible treatment options for kidney disease patients worldwide.
Messages from Management
Dr. Gavin Xia, Co-founder, Chief Executive Officer and Chairman of the Board of Alebund, said: “Listing on the Main Board of The Stock Exchange of Hong Kong Limited is an important milestone in Alebund’s journey. Alebund’s rapid growth and successful listing on the Hong Kong Stock Exchange would not have been possible without the relentless efforts of our team, nor without the support of government authorities at all levels, our investors, and partners across all sectors. From this new starting point, Alebund will continue to accelerate the clinical and commercialization progress of its product pipeline, further upgrade its globally competitive integrated kidney disease platform, reward shareholders and partners with even stronger performance, and safeguard patients worldwide with higher-quality kidney disease treatment solutions.”
Dr. Jin Tian, Co-founder and Chief Medical Officer of Alebund, said: “Alebund is dedicated to overcoming the persistent therapeutic challenges associated with chronic kidney disease and has established a highly differentiated and innovative product pipeline. Our lead asset, AP301, has successfully completed a Phase III registrational trial in China and is on track for New Drug Application (NDA) submission, which we expect to provide a better option for the management of hyperphosphatemia in patients receiving dialysis. In parallel, we are rapidly advancing the clinical development of our follow-up pipeline candidates, striving to bring next-generation therapies to patients with renal disease as quickly as possible.”
About Alebund Pharmaceuticals
Alebund Pharmaceuticals (09637.HK) was established in Shanghai, China in early 2018. It is a biopharmaceutical company focused on kidney disease and related chronic diseases, with the broadest pipeline in terms of renal indication coverage, principally engaged in the discovery, development, manufacturing and commercialization of innovative drugs in these areas, with the aim of providing better clinical treatment solutions for patients with chronic kidney disease and related diseases worldwide. Alebund has established a rich and well-balanced pipeline of innovative kidney disease drugs, including seven product candidates and one commercialized product (Mircera®), with indications spanning hyperphosphatemia, renal anemia, IgA nephropathy (IgAN), diabetic kidney disease (DKD), focal segmental glomerulosclerosis (FSGS) and autosomal dominant polycystic kidney disease (ADPKD), among others. The Company has built and commenced operations at a manufacturing facility in Yangzhou, Jiangsu, which has obtained a Drug Manufacturing License (Category B) issued by the Jiangsu Provincial Drug Administration, to support the future commercialization of AP301 and other pipeline products. The Company has also established a specialized nephrology sales team responsible for the commercialization of related products in China.
Company website: www.alebund.com
Forward-Looking Statements
This press release contains certain forward-looking statements relating to the Company’s future plans, clinical development and registration progress, commercialization prospects and industry trends, among other matters. These statements are based on the Company’s judgments and assumptions as of the date of this press release and are subject to various risks and uncertainties; actual results may differ materially from such forward-looking statements. This press release does not constitute an offer to sell or a solicitation of an offer to purchase any securities. For complete information on the Global Offering, please refer to the prospectus published by the Company.
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SOURCE Alebund Pharmaceuticals
