The 2026 Pharmaceutical Investment, Financing and Transactions Conference took place in Shanghai, bringing together pharmaceutical companies, investment institutions and industry experts. Discussions covered global collaboration in pharmaceutical innovation, capital-market trends and pharmaceutical deals, exploring further routes for Chinese innovative medicines to reach international markets.
Innogen CFO and executive director Fan Jiang participated in a roundtable on ‘Opportunities and challenges of listing in Hong Kong.’ Moderated by Zhe Wang, executive director in the healthcare industry department of Guotai Haitong, the forum included representatives from VISEN Pharmaceuticals, Antengene, the Hong Kong China Resources–CP Life Sciences Fund and other companies and investment institutions. They discussed Hong Kong capital-market trends and opportunities for Chinese biotechnology companies to expand internationally.
Participants said that, as China's innovative-drug sector enters global competition, the Hong Kong market is becoming an important connection between international capital and Chinese innovative assets. With continued activity in overseas business-development deals and stronger international capabilities, capital markets are paying increasing attention to biotechnology companies with differentiated innovation and global development potential.
Fan Jiang said that a Hong Kong listing is both an important financing route and an opportunity to strengthen disciplined operations and international development. Capital-market support helps biotechnology companies sustain core-product research, global clinical programs and long-term plans. As international investors take greater interest in Chinese innovative medicines, companies also need continued innovation and sound operations to improve their global competitiveness and standing in capital markets.
As a Hong Kong-listed innovative-drug company, Innogen continues to advance metabolic-disease research and international development with clinical value as its guiding principle. Its independently developed human-derived, ultra-long-acting GLP-1 receptor agonist, efsubaglutide alfa, is approved for type 2 diabetes in mainland China and Macau. The company is pursuing clinical development across multiple indications, including obesity and MASH, internationally. In overweight and obesity, it is systematically assessing potential effects on weight management, body composition and metabolic fat deposition.
Clinical findings suggest further uses to investigate for efsubaglutide alfa. In the Chinese Phase IIb overweight/obesity study, the 20 mg once-weekly group showed an approximately 45.3% increase in muscle-to-fat ratio and a 46.9% reduction in liver fat, suggesting potential for fat loss, muscle preservation and improvement in metabolic fat deposition.
Early research also showed a half-life of approximately 280 hours in patients with obesity, providing a pharmacokinetic basis for exploring longer dosing intervals. The company is conducting a Phase II study in Australia to further assess the feasibility of once-monthly dosing.
Innogen will continue to prioritize clinical value, advance innovative R&D and international collaborations, and explore more varied and efficient partnership models with global partners. It aims to accelerate the translation of research, realize more value for Chinese innovative medicines internationally and provide patients with additional high-quality treatment options.
Note: Efsubaglutide alfa is currently approved for type 2 diabetes. Obesity and weight-loss indications remain under clinical investigation and are not approved for marketing. This content provides company R&D updates and industry information only; it does not constitute drug advertising, treatment advice or a promise of efficacy. Prescription medicines should be purchased with a physician's prescription and used under medical supervision.
About Innogen
Founded in 2014, Innogen (HK.2591) develops and commercializes innovative medicines for metabolic diseases. Its independently developed pipeline covers indications including type 1 diabetes (T1D), obesity, metabolic dysfunction-associated steatohepatitis (MASH) and Alzheimer’s disease (AD), with global intellectual property and patent coverage. Its core product, efsubaglutide alfa, is an independently developed, new-generation, human-derived, ultra-long-acting GLP-1 receptor agonist approved in mainland China and Macau for type 2 diabetes and included in the National Drug Reimbursement List for Basic Medical Insurance, Maternity Insurance and Work Injury Insurance (2025 edition). It has entered global development and registration, with the aim of providing better treatment options for patients worldwide. For more information, visit: www.innogenpharm.com.