Innogen steps into global GLP-1 arena with Hong Kong IPO plan

China-based biotech Innogen is making a strategic pivot toward international visibility following regulatory clearance of its first-in-class, ultra-long-acting GLP-1 receptor agonist for type 2 diabetes, alongside a move to go public on the Hong Kong Stock Exchange.

The company, based in Guangzhou, received approval from China’s National Medical Products Administration earlier this year for its once-weekly injectable therapy, Diabegone (supaglutide), designed to lower blood glucose and improve metabolic markers in adults with type 2 diabetes.

The medicine also showed potential for weight reduction in clinical trials, placing it in direct competition with GLP-1-based blockbusters such as Novo Nordisk’s (NOV: N) semaglutide and Eli Lilly’s tirzepatide. Both molecules are approved in diabetes and obesity, and marketed under different brands in each indication.