Leidi.com Lei Jianping July 28
RNA technology company MirxesHolding Company Limited (abbreviation: "Mirxes") recently submitted a prospectus and is preparing to be listed on the Hong Kong Stock Exchange.
Annual revenue of $17.759 million
Founded in 2014, Mirxes has developed and commercialized accurate, non-invasive and affordable blood miRNA detection reagents for early screening of cancer and other diseases.
Among them, the gastric cancer screening product (GASTROClear™/Mixiaowei™) is a molecular diagnostic kit based on blood miRNA, which has been approved in Singapore and obtained the CE certification of the European Union, and is currently conducting a clinical trial in China with nearly 10,000 people.
Mirxes also launched its flagship program - CADENCE (Cancer Detected Early caN be CurEd) project, based on the company's miRNA technology combined with multi-group biomarker detection, aiming to develop a blood early screening test covering nine cancers.
As of April 30, 2023, Mirxes had 109 sales and marketing employees to provide customized support to customers.
According to the prospectus, Mirxes’ revenue in 2021 and 2022 will be US$60.65 million and US$17.759 million respectively; gross profit will be US$42.2 million and US$9.33 million; losses during the period will be US$3.08 million and US$56.2 million respectively.
Mirxes’ revenue in the first four months of 2023 was US$5.77 million, compared with US$3.5 million in the same period last year; the loss for the period was US$21.59 million, compared with a loss of US$16.98 million for the same period last year.
As of April 30, 2023, Mirxes had cash and cash equivalents of $10.65 million.
Just completed a financing of 50 million U.S. dollars and a valuation of 600 million U.S. dollars
The executive directors of Mirxes are Dr. Zhou Lihan, Dr. Zou Ruiyang, and He Haojie; the non-executive directors are Dr. Zhu Xing, Dr. Le Beilin, and Liu Da; the independent non-executive directors are Lin Liming, Dr. Lin Dashan, and Ms. Ma Luling.
Mirxes completed Series B financing of US$30.2 million in 2018, with a post-investment valuation of US$150 million;
Mirxes completed a US$87 million Series C financing in July 2021. Investors include CapstarManagement Group Limited, China Chengtong Investment Co., Ltd., Knowledge World Co. Ltd, etc., with a post-investment valuation of US$487 million;
Mirxes recently completed the D round of financing, with a total financing of US$50 million. Investors include Fupu Capital, the Singapore Economic Development Board's exclusive investment fund (EDBI), a branch of the Singapore Agency for Science, Technology and Research (A*STAR), Japan's Mitsui & Co., Ltd. and Nuohui Venture Capital Fund. Post-money valuation of Mirxes is $600 million.
Former Taobao president Sun Tongyu is the major shareholder
Before the IPO, former Taobao CEO Sun Tongyu’s CentralRoad held 22.03% of the shares. Sun Tongyu is a legend in the e-commerce industry. He was one of the 18 Arhats of Alibaba and the founder of Taobao. After being "released with a glass of wine" by Ma Yun, he also assisted Pinduoduo to grow bigger and took a large share of Ali's e-commerce.
Sun Tongyu's wife is Peng Lei, one of Alibaba's 18 Arhats, and the earliest CEO and chairman of Ant Group. Since then, she has faded out from Ant Group.
Dr. Zhu Xingxing holds 14.11% of the shares, Dr. Zhou Lihan holds 8.12% of the shares through SLW Gene Limited, Dr. Zou Ruiyang holds 7.77% of the shares through Accurate Gene Limited, MSEA Ltd holds 6.6% of the shares, and He Haojie holds 5.19% of the shares through Perpetuity Eagle International %, Octenniel Corporation holds 4.6%, and Beijing Fupu holds 3.33%.
CAIWensheng holds 1.89%, Capstar Management Group, Jiancheng Kaiyuan Investment Co., Ltd., Rock Springs Capital Master each hold 1.88%, EDB Investments holds 1.77%, Banyan Partners Fund III (Gaorong Capital) holds 1.74%, Accelerate Technologies Holding 1.7% and Jane Street Global Trading holding 1.51%;
Ms. HO Yoon Khei holds 1.16%, NHHVenture Fund holds 1.02%, Alpha Win IX LPF, Divine Limited, Keytone Collaboration II, Keytone Ventures III hold 0.94% respectively, CRF Investment Holdings holds 0.91%, IGBE Tech, Mitsui & Co., Ltd., and RDS1 Holdings each hold 0.83%, Jubilant Peace Investments holds 0.56%, Blue Spark Hub holds 0.5%, and BPC SPV MRX Limited holds 0.47%;
China Chengtong Investment Co., Ltd., Denning Holdings, and Four Pines Master Fund each hold 0.38%, CHEONG Kok Yew holds 0.37%, ONG Jeong Shing (WANG Jiongxing) holds 0.37%, and Accelerate Venture Creation holds 0.33%. Banyan Partners Fund III-A, LP (Gaorong Capital) holds 0.31% of the shares.
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