Chinese vaccine company Ab&B Bio-tech announced an IPO listing on the Hong Kong Stock Exchange (HKEX:2627) under which it hopes to raise up to HK$518.36 million (US$66 million) to commercialize its influenza and human rabies vaccines in China and internationally.

Brandon Capital Partners Pty Ltd., Australia’s largest life sciences venture capital firm, announced the final close of its sixth fund at AU$439 million (US$288 million), the VC’s largest fund to date.

Radiopharma Clarity Pharmaceuticals Ltd. raised AU$203 million (US$132.22 million) in an institutional placement on Australia’s Securities Exchange to advance its late-stage pipeline of copper-based radiopharmaceuticals.

Thirty-six biotechnology, pharmaceutical and medical device companies sought a capital raise on the Hong Kong Stock Exchange in the first half (H1) of 2025, a review by BioWorld found. Of those, 34 companies were from mainland China.

Historically, Q2 has often been one of the strongest quarters for biopharma financing, but 2025’s figures suggest a more cautious investment climate. Biopharma companies raised $16.02 billion in the second quarter (Q2) of 2025, a modest increase from the $13.11 billion brought during Q1. While the uptick signals some recovery from Q1, the sector is still pacing well behind the highs of recent years.

Illimis Therapeutics Inc. raised ₩58 billion (US$42 million) in a series B financing round. The funds will support development of ILM-01, its lead bispecific fusion protein candidate, into preclinical development for Alzheimer’s disease by the second half of 2025, along with the company’s neuroimmunology portfolio.