Chronic Hepatitis B (“CHB”)

Chronic hepatitis B (CHB) is a long-term liver disease caused by persistent infection with the hepatitis B virus (HBV). The virus spreads commonly via mother-to-child transmission, unprotected sex, or sharing needles. 80%-90% of infants aged one year old and 30%-50% of children aged six years old and younger who are infected with HBV will develop CHB, which can lead to serious and potentially fatal complications, including cirrhosis, liver failure and liver cancer. About 20%-30% of untreated patients with CHB may turn into cirrhosis and liver cancer. Despite the availability of HBV vaccines, CHB is still estimated to affect at least 260 million individuals annually worldwide in the next decade, making it a significant health concern worldwide.

Chronic Hepatitis D (“CHD”)

CHD is a superinfection of the liver that may occur in patients with CHB. It is caused by hepatitis D virus (HDV), a “satellite” virus that can only infect individuals who are also infected by HBV as HDV requires HBsAg for viral assembly and propagation. Nearly 5% of patients with CHB virus infection worldwide are infected with HDV. CHD is the most severe form of viral hepatitis and is associated with an increased risk of liver cancer and death, with faster progression to serious liver complications such as liver fibrosis, cirrhosis and liver decompensation compared to CHB alone. As of 2023, CHD affected 12.5 million people worldwide.

Metabolic Dysfunction-associated Steatohepatitis (MASH)

Metabolic dysfunction-associated steatohepatitis (MASH) is a severe form of MASLD, characterized by excessive fat accumulation in the liver (steatosis) and accompanied by inflammation and hepatocyte injury. MASH is one of the most common hepatic diseases worldwide. The global prevalence of MASH increased from 340.4 million in 2019 to 386.1 million in 2023 at a CAGR of 3.2%. The number is expected to grow to 520.5 million in 2033 at a CAGR of 3.0% from 2023.