Ebola vaccine maker CanSino Biologics has a plan to take its life-saving treatments well beyond China’s domestic market
- CanSino Biologics jumped 59 per cent in debut trading in Hong Kong on Thursday, reflecting the best first day trading gain in the city since 2017
- Steve Chao, chief operating officer, says the company has 15 vaccines under development
A newly listed Chinese vaccine maker has set its sights on global expansion even as it looks to regain trust in its home market after a scandal last year raised questions about the industry’s quality standards.
CanSino Biologics jumped 59 per cent in debut trading in Hong Kong on Thursday, ending the session at HK$34.70, reflecting the best first day trading gain in the city since 2017, according to Bloomberg. Shares of CanSino ended little changed on Friday, easing 0.3 per cent to close at HK$34.60.
It is the first vaccine company to list on the Hong Kong Stock Exchange, and the seventh IPO since reforms to local listing rules allowing pre-revenue biotech companies and tech companies to raise capital in the city.
“Even though we will mainly focus on the Chinese market, but at the same time we have an agreement to sell our meningococcal vaccines to India, while we are also looking at other emerging markets,” said Steve Chao, chief operating officer at CanSino.
The company said it has 15 vaccines in the works. Two of its vaccines for meningococcal diseases are near commercialisation, while the Chinese government has already begun stocking its Ebola vaccine. CanSino also said it is in talks with the World Health Organisation to provide the Ebola vaccine to countries in Africa including the Democratic Republic of Congo.
It has also signed an agreement with Italy-based VaxYnethic.
“They are one of the top two vaccine makers in Italy and have a well-established sales network, making it easier to sell our products in Europe,” Chao said.