Latest updates on Cuprina Holdings (Cayman) Limited (CUPR), including IPO date, price, and allotment details
Cuprina Holdings (Cayman) Limited (CUPR) has published that its IPO is going to be floated on the 30th of August 2024. It is a biomedical and biotechnology company focused on developing and commercializing innovative products for chronic wound management. It aims to gather US$15.0 million with 3.8 million shares, with a price of US$4.0.
Table of Contents
- Company Overview
- Company Strategy
- IPO Profile
- IPO Objective
- Application Process of IPO
- Financial Analysis of Company
- Competitor Analysis
- Details on Company Management
- Manager/ Joint Manager of Cuprina Holdings (Cayman) Limited (CUPR)
- Company Address
Company Overview
Cuprina Holdings (Cayman) Limited (CUPR) is a biomedical and biotechnology firm based in Singapore with a focus on providing biomedical solutions in the management of chronic wounds. The firm utilizes superior technologies and is involved in a solid research and development factor to build products that solve underserved medical requirements. Apart from the specialty of wound care, Cuprina Holdings has an interest in the health and beauty market, with products that are aimed at improving the quality of life. By embracing the aim of developing healthcare and improving the quality of people’s lives, CUPR has remained ambitious about its portfolio and international exposure.
Company Strategy
The company specializes in advanced chronic wound care products. Its business model focuses on broadening the market share through introducing innovative products such as MEDIFLY, a sterile blowfly larva dressing for serious medical applications to treat infected ulcers and chronic wounds. Cuprina started operating the MEDIFLY service in 2020 in Singapore and since 2023 in Hong Kong, and its further geographical expansion is a part of its strategy. To expand the range of released products, the company is also working on collagen wound dressings extracted from the skin of a bullfrog. Hoping to garner $15 million for its continued growth and innovation plans, Cuprina is planning an IPO.
IPO Profile
| Symbol: | CUPR |
| Exchange: | NASDAQ |
| Shares: | 3.8 million shares |
| Price Range: | US$4.0 – US$4.0 |
| Estimated Value: | US$15.0 million |
| Manager/ Joint Manager | Network 1 Financial Securities |
| Co-managers | NA |
IPO Objective:
The primary reason Cuprina Holdings (Cayman) Limited (CUPR) has opted for an IPO is to secure $15 million that would be used for future expansion and development of biomedical products and services. They will be applied to the expansion of the market for the MEDIFLY product and to the creation of new products like collagen wound dressings from bullfrog skin. The IPO is set to build up on the company’s research and development, diversify production and market expansion, and ultimately act in the best interest of the shareholders in the long run.
Application Process of IPO
To invest in NASDAQ, it is necessary to make use of a brokerage account. As a first step, enroll in a reliable brokerage firm that offers trading in NASDAQ, and fill out the registration form with your basic and financial information. In the next step, make some deposits into your account in preparation for buying shares. Enter the brokerage account trading division, identify the preferred stock, indicate the number of shares to be bought or sold, and select an order kind (Market, Limit, or Stop). Reiterate your order information and finalize the purchase.
Financial Analysis of the Company
Financials in millions SGD.
| Particulars (in million) | 2022 | 2021 |
| Revenue | 0.06 | 0.06 |
| Gross Profit | 0.02 | 0.02 |
| Operating Income | -1.18 | -0.55 |
| Pretax Income | -1.09 | -0.52 |
| Net Income | -1.09 | -0.52 |
| EBITDA | -1.06 | -0.49 |
| EBIT | -1.09 | -0.52 |
Cuprina Holdings (Cayman) Limited (CUPR) reported stagnant revenue of SGD 0.06 million for both 2021 and 2022. Despite maintaining a consistent gross profit of SGD 0.02 million, the company experienced a significant increase in operating losses, with operating income declining from SGD -0.55 million in 2021 to SGD -1.18 million in 2022. This deterioration is reflected in the pretax and net incomes, both of which were SGD -1.09 million in 2022, compared to SGD -0.52 million in 2021. EBITDA also worsened from SGD -0.49 million to SGD -1.06 million, indicating growing financial challenges as the company scales operations.
Competitor Analysis
Here are some of its top competitors:
MediWound Ltd.
MediWound Ltd. is a biopharmaceutical company that focuses on bringing novel solutions for managing serious burns and wounds. Founded in Israel, the company specializes in the development and marketing of its innovative enzymatic therapy to heal burns, chronic wounds, and other sorts of skin injuries. NexoBrid® which is MediWound’s leading offering, is a differentiated topical treatment that debrides eschar in burn cases, thus minimizing the use of surgery to treat such patients. It has a strong pipeline of next-generation therapeutic products in the process of developing innovative wound care solutions.
Organogenesis Holdings Inc.
Organogenesis Holdings Inc. is an American regenerative medicine company that focuses on the development of therapeutic and safety solutions for the medical industry and patients in the domains of advanced wound care, surgery, and sports. The company designs produces, and markets biopharmaceutical solutions such as bioengineered skin substitutes, acellular matrices, and tissue-based products that foster the healing efficiency of patients. Organogenesis is a leading company in the development of innovative products to meet the needs of healthcare providers, hospitals, and clinics in the area of chronic and acute wound care, burns, and musculoskeletal applications to deliver a strong value proposition grounded in its comprehensive product range and research activities.
ConvaTec Group PLC
ConvaTec Group PLC is a medical technology company and a leader in the fields of wound care, ostomy care, incontinence, and critical collagen markets. ConvaTec is a UK-based company that specializes in providing healthcare products and services aimed at helping patients with chronic diseases and cutting healthcare expenses. Some key products that the company offers are wound care dressings, ostomy care products, infusion therapies, and critical care products. ConvaTec’s mission is to bring to market innovative medical solutions that lead to positive improvements in patients’ lives and allow healthcare providers to deliver the highest quality of care in diverse care settings.
Details on Company Management
- David Quek Yong Qi – Director and Chief Executive Officer
- Baptista Carl Marc – Director and Chief Technology Officer
- Teo Peng Kwang – Director
- Jimmy Lee Peng Siew – Director
- Koh Pee Keat – Independent Director
- Ivan Ng – Independent Director
- Natasha Kaur Raina – Independent Director
- Chan Tat Jing – Financial Controller
Manager/ Joint Manager of Cuprina Holdings (Cayman) Limited (CUPR)
Network 1 Financial Securities
Network 1 Financial Securities is a brokerage firm that operates in the United States and delivers investment banking, wealth management, and other financial services. The firm targets both direct access and institutional clients offering services in equity, fixed income, and alternative investment products. Network 1 Financial Securities is also renowned for successfully implementing a client-centered business approach and possesses vast experience in providing finance and advisory services to small and midsize enterprises on capital sourcing, M&A, and other strategic financial requirements.
Conclusion
As Cuprina Holdings (Cayman) Limited (CUPR) prepares for its IPO on August 30, 2024, the company aims to raise $15 million by offering 3.8 million shares at $4.00 each. Specializing in chronic wound management through innovative products like MEDIFLY and new collagen wound dressings, Cuprina’s IPO represents a crucial step in expanding its market reach and advancing its R&D efforts. Investors should consider the company’s financial challenges and growth potential as they evaluate this investment opportunity. Stay tuned for further updates on CUPR’s stock performance and market impact.
