Hua Medicine at Jefferies 4th Asia Forum with strengthened cash position

With plenty of cash on hand and new data showing the impact of its drug dorzagliatin, Hua Medicine (HKEx:2552) is presenting at the Jefferies 4th Asia Forum in Hong Kong on September 8, 2023 this week.

Dorzagliatin is an important drug. It is a global first-in-class with the ability to send diabetes into remission by restoring select Type 2 diabetes patients’ ability to autonomously self-regulate glucose levels (glycemic control) and maintain a healthy glucose balance (glucose homeostasis). This means that, unlike other diabetes drugs in the market, dorzagliatin is a ‘smart drug’ that can treat the root causes of diabetes.

Sales began in mainland China in October 2022, ramping up through H1 2023. There are multiple highlights of Hua Medicine’s performance underscored at the Forum:

• Sales almost quadrupled in H1 2023 to RMB70.3 million (US$9.62 million) compared to H2 2022.

• Cash balance as of June 2023 of more than US$120 million.

• A milestone payment of approximately US$110 million from commercialization partner Bayer announced in August 2023, expected to be received by year end 2023.

• Further milestone payments of approximately US$400 million are potentially available.

• Expected inclusion of dorzagliatin in China’s National Drug Reimbursement List (NDRL), which would speed up sales growth and expand sales channels.

• Scaled up manufacturing capacity.

• The eventual filing of an Investigational New Drug (IND) application in the U.S. later this year or early 2024 for its second generation glucokinase activator (GKA), a first step toward eventual commercialization there of a GKA with the ability to send diabetes into remission.

Dorzagliatin, marketed as HuaTangNing in China, is an allosteric glucokinase activator that represents a massive leap forward in how diabetes can be treated.

I wanted to offer you a unique interview opportunity with top executives at Hua Medicine, who can discuss:

• The state of the global diabetes epidemic and its impact on health care.

• The impact of the new ‘smart drug’ dorzagliatin on the treatment of diabetes.

• Hua Medicine’s financial position, results and development plans.

• The new and very real possibility of sending diabetes into remission that dorzagliatin creates.

To learn more about Hua Medicine and dorzagliatin or to arrange an interview with Hua Medicine CEO Dr. Chen Li or CSO George Lin, please contact: hua.medicine@bahati.com.hk.

• Dorzagliatin is a novel allosteric glucokinase (GK) activator.

• The GK enzyme acts as a glucose ‘sensor’ to monitor blood sugar levels. It is effectively the central controller of the body in maintaining healthy glucose levels. The GK enzyme signals to the pancreas to release insulin when glucose levels are rising. Insulin assists cells to absorb glucose.

• The GK ‘sensor’ does not work efficiently in Type 2 diabetes patients.

• Dorzagliatin is a ‘smart drug’ that improves GK’s ability to sense glucose and better regulate insulin production.

• Dorzagliatin is the first drug approved in a major market that can address one of the root causes of Type 2 diabetes and with the potential to induce clinical remission.

• China’s National Medical Products Administration (NMPA) approved dorzagliatin in September 2022 with a broad label for Type 2 diabetes patients and an emphasis on improving beta cell function.

• The benefits dorzagliatin has already generated for patients in China has attracted considerable attention among the biopharma community.

Hua Medicine develops new and innovative drugs. We team up with top talent from around the world to develop breakthrough technologies and products that advance diabetes care. Hua Medicine (HKEx:2552) is based in Shanghai and listed in Hong Kong. Our cornerstone product, HuaTangNing (dorzagliatin tablets), could help millions of diabetic patients around the world.