The Chinese developer of anti-wrinkle fillers is seeking a cash injection from a Hong Kong share listing to bring its plumping products to the market

Key Takeaways:

• The biotech made less than 15 million yuan last year and was sitting on only 33 million yuan in cash and cash equivalents at the end of the year
• Its key anti-ageing skin treatment is due to go on sale from the end of this year

The quest for eternal youth is an age-old preoccupation. China’s first emperor, Qin Shi Huang, was famously eager to find the elixir of life, and in modern times medical science has been applied to the task of keeping the signs of ageing at bay.

Today’s beauty-conscious consumers can choose from an array of lotions and anti-ageing injectables, which have turned the medical aesthetics sector into a big global business.

A Chinese company hoping to make its mark as a supplier of anti-wrinkle treatments and other regenerative products, Eastenova (Chengdu) Biotechnology Co. Ltd., applied this week for a share listing to raise the necessary funds to keep its ambitions alive.

The companyis seeking to trade on the main board of the Hong Kong Stock Exchange under a clause allowing IPOs by loss-making biotechs, with CCB International as the exclusive sponsor.

Its core product under development is an injectable filler to smooth out smile lines around the nose and mouth.

Established in 2016 in Chengdu, Sichuan province, Eastenova is keen to compete in the global filler market with leading international brands such as Ellansé and Juvederm, taking advantage of China’s growing demand for …

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