Market Trends

New listed company:HanchorBio Inc. (7827)

Guan-Iou Li
Senior Associate at TWSE

HanchorBio Inc. (hereinafter referred to as "the Company") demonstrates strong innovative momentum and investment value.

First, the Company possesses world-leading technology and platform advantages. Its proprietary antibody engineering platform, FBDB™, is capable of creating industry-leading, high-affinity, multifunctional, and highly specific fusion proteins, including mono-specific, bi-specific, and tri-specific molecules. Through a differentiated design strategy, HanchorBio effectively reduces immune-related side effects while significantly enhancing tumor target specificity and affinity. The platform offers strong scalability, supporting multiple globally promising R&D pipelines and future collaboration and licensing opportunities, serving as a key engine for long-term value growth.

Second, the Company has a diverse and promising R&D pipeline. Its core product, HCB101, is one of the few CD47 broad-spectrum anticancer biologics globally that has entered clinical trials in the United States, China, and Taiwan, demonstrating high competitiveness. Subsequent innovative pipeline candidates, such as HCB301, have received regulatory approval from both the U.S. China and Taiwan, covering a wide range of tumor types and immune mechanisms, fully showcasing the platform's multi-indication potential. Other multi-specific biologics, including HCB303 and HCB206, are also progressing steadily, accelerating the achievement of breakthrough therapeutic effects. Furthermore, combination therapy with biologics holds significant potential, creating differentiated competitive advantages that align with global trends in immuno-oncology.

In terms of international presence and collaboration potential, HanchorBio Inc. is headquartered in Taiwan for R&D and has multi-center clinical sites in the U.S., China, and Taiwan. By combining Taiwan’s R&D strengths with clinical footprints across the U.S., China, and Taiwan, the Company facilitates cross-border trials and market expansion. HanchorBio Inc. actively participates in top-tier global conferences such as CSCO and SITC, gaining high visibility that enhances brand credibility and international influence. At the same time, the Company possesses the capability and flexibility to engage in business development and licensing transactions with global pharmaceutical companies, making future licensing and strategic partnerships highly promising.

The Company has clear and visible growth milestones. Since its founding in 2020, HanchorBio Inc. has completed multiple rounds of fundraising, successfully listed on the Taiwan Emerging Stock Board in June 2025, and further listed on the Taiwan Innovation Board at the end of May 2026, earning high recognition from the capital markets. Its R&D efficiency is industry-leading, taking an average of only 2.3 years to move from preclinical to clinical stages, demonstrating the execution capability of its R&D team. Its global patent portfolio is also steadily expanding, with over 100 patent applications filed worldwide, strengthening its competitive moat.

HanchorBio Inc. also benefits from an experienced executive and R&D team. The C-level executive team members all have international experience, including professional and managerial backgrounds in the U.S., Europe, Singapore, and other regions. The Company’s R&D team in Taiwan previously developed their first biologic, which, after progressing through preclinical and clinical stages, was successfully launched and used to treat patients in China, Southeast Asia, and Europe – fully validating the team’s execution ability.

Finally, in terms of investment value proposition, HanchorBio Inc., with its high technological barriers and international clinical footprint, holds the potential for licensing out to large pharmaceutical companies. Future clinical data will be key to the next wave of value realization. As a platform company, its potential is limitless, offering both single-product breakthroughs and long-term, multi-pipeline biologic expansion possibilities.

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