China-based Novaken has filed an application with the Hong Kong Stock Exchange (HKEX) , seeking a listing under the Chapter 18A listing regime. Founded in 2007, the clinical-stage company focuses on developing innovative drug formulations to address the limitations of traditional drug delivery routes. Novaken has built two core technology platforms: a soluble microneedle technology and a nasal inhalation formulation platform.

These platforms have generated two lead products. The first is a dexmedetomidine microneedle patch for pre-operative sedation in paediatric and adult patients, which is in Phase IIa trials for children in China with an adult Phase II trial scheduled to begin in early 2026. The second is XJN010, a nasal inhalation product for managing 'off' episodes in Parkinson's disease patients, which is in Phase II development. The company recently completed a Series C funding round, achieving a post-money valuation of RMB 1.53 billion. For the six months ended 30 June 2025, Novaken reported revenue of RMB 28.1 million and a net loss of RMB 20.8 million.

PharmCube's NextBiopharm® database lists five candidates in Novaken's pipeline. Click here to request a free trial for NextBiopharm®.