Lepu Biopharma Co. Ltd. started trading on the Hong Kong stock exchange on Wednesday, raising HK$904 million ($115.9 million) in an initial public offering. Trading opened at HK$7.13 per share and slid to HK$6.70 by midday before closing at HK$7.13.
Lepu Biopharma Co. Ltd. started trading on the Hong Kong stock exchange on Wednesday, raising HK$904 million ($115.9 million) in an initial public offering. Trading opened at HK$7.13 per share and slid to HK$6.70 by midday before closing at HK$7.13.
Canbridge Pharmaceuticals Inc. has raised HK$604 million ($77.4 million) with a listing on the Hong Kong stock exchange, selling about 56.3 million shares (1228.HK) at HK$12.18 per share. The shares fell to HK$8.90 at the close of trading Dec. 10. Almost half the funds will support advancement of Canbridge’s lead candidate, CAN-008, a glycosylated CD95-Fc fusion protein in phase II testing for glioblastoma, while another quarter will support other major pipeline programs.
Sichuan Clover Biopharmaceuticals Inc. raised HK$2.03 billion (US$260.17 million) in its Hong Kong Stock Exchange debut. Shares closed at HK$12.98 (US$1.67) on Nov. 5 after trading as high as HK$13.56 earlier.
Microtech Medical (Hangzhou) Co. Ltd. raised around HK$1.98 billion (US$254.53 million) via its listing on the Hong Kong stock exchange, becoming the latest in a flood of med-tech companies listing in the city.
Abbisko Cayman Ltd. has raised $226 million through an IPO in Hong Kong, where it launched with an initial price of HK$12.46 (US$1.60) per share. The company, doing business as Abbisko Therapeutics, plans to use about a third of the proceeds for research and development of its lead candidate, ABSK-091, as a potential treatment for multiple solid tumors.
Abbisko Cayman Ltd. has raised $226 million through an IPO in Hong Kong, where it launched with an initial price of HK$12.46 (US$1.60) per share. The company, doing business as Abbisko Therapeutics, plans to use about a third of the proceeds for research and development of its lead candidate, ABSK-091, a targeted inhibitor of fibroblast growth factor receptor subtypes 1, 2 and 3 intended as a potential treatment for multiple solid tumors, including urothelial cancer, gastric cancer, cholangiocarcinoma and lung cancer.
Chinese med-tech firms are still flocking to list on the Hong Kong Stock Exchange despite recent disappointing performances. One of these companies is Shanghai Microport Medbot (Group) Co. Ltd., which is looking to raise up to $1 billion in a Hong Kong initial public offering (IPO). Proceeds from the listing will be used for the R&D and commercialization of its core product Toumai Laparoscopic Surgical Robot.
Broncus Holding Corp.’s shares tumbled more than 20% on its first trading day on Friday, Sept. 24, in Hong Kong. It raised HK$1.55 billion (US$199.1 million) at HK$18.70 a share, the top end of its target range. Nearly half of the proceeds will be used for the R&D and commercialization of its two core interventional pulmonology products: the Intervapor system and the RF Generator + RF Ablation Catheter (RF-II).
Innovent Biologics Inc. has inked a $312 million licensing deal for the development and commercialization of Genfleet Therapeutics Inc.’s KRAS G12C inhibitor, GFH-925, in mainland China, Hong Kong, Macau and Taiwan. Innovent also has additional option-in rights for global development and commercialization.
