IPO Observation | Taiji Tiankew Launches IPO Guidance Focused on Diabetes Drug Market
Taiji Tiankew Biotechnology (Suzhou) Co., Ltd. ("Taiji Tiankew"), a biopharmaceutical technology company, has signed an IPO guidance agreement with China Securities Company Limited (600999) on August 31, 2023, marking the formal launch of its IPO process.
According to sources, Taiji Tiankew is a commercialized stage biological technology company with a core product pipeline focused on innovative drugs. The company has developed a novel DPP-4 inhibitor called linagliptin, which is expected to be launched soon.
Sole Product Launched
Taiji Tiankew was founded in 2010 by CEO Yu Qiang, who graduated from the Department of Chemistry at Peking University. After completing his bachelor's degree under the guidance of Professor Kexin Ye, Yu Qiang went to the United States for further studies. In 1999, he joined the research group of Dr. Ronald Borchardt, then the chairman of the American Association of Pharmaceutical Scientists (AAPS), to study the use of Caco-2 cells as an in vitro method to evaluate the bioavailability of compounds.
In 2005, Yu Qiang began his entrepreneurial journey and founded CGENETECH in the United States, focusing on the development of novel drugs for the global market. In an interview, he mentioned that "in 2008, we discovered a series of active compounds targeting DPP-4, a diabetes-related target point." Subsequently, in 2009, Yu Qiang decided to return to China and start his business.
In 2010, Yu Qiang founded Taiji Tiankew Biotechnology (Suzhou) Co., Ltd. with partner Ding Jiping in Suzhou Industrial Park. The company is now focused on the development of high-quality and differentiated small molecule innovative drugs and their industrialization, leveraging its integrated drug discovery technology platform and diverse commercial vision.
The company has a rich pipeline of innovative drugs covering diabetes, cancer, and autoimmune diseases. In addition to linagliptin, there are four other drugs in clinical development, including ALK inhibitors CGT-9475, CDK4/6 inhibitors CGT-1967, CXCR4 antagonists CGT-1881, and FGFR/VEGFR dual-targeted inhibitors CGT-6321.
Diabetes Drug Market Competition
Taiji Tiankew's initial focus was undoubtedly on the massive Chinese diabetes market.
Data shows that there are approximately 113 million adults with type 2 diabetes in China. The State Council Office has published a long-term plan for chronic disease prevention and control (2017-2025), which aims to increase the management rate of patients with chronic diseases, including diabetes, from 2614 million to 4000 million by 2025.
The Chinese diabetes market is expected to continue growing due to the increasing number of patients and the long-term use of medications. Currently, there are eight types of oral antidiabetic drugs on the market, including sulfonylureas, thiazolidinediones, SGLT2 inhibitors, and DPP-4 inhibitors.
The domestic diabetes drug market is characterized by fierce competition, with multiple companies vying for market share. Taiji Tiankew's linagliptin has the potential to be a game-changer in this market.