Antibody-drug conjugate developer Duality Biotherapeutics Inc. is gearing up for a second IPO attempt this year, having filed on Feb. 27 a new prospectus on the Hong Kong Stock Exchange. Two other biotechs – Genuine Biotech Ltd. and Cloudbreak Pharma Inc. – also are having another go at a listing in Hong Kong in 2025.
Basel Medical Group Ltd. is the first Singapore-based med-tech to price an IPO on the Nasdaq this year, aggregating gross proceeds of $8.82 million on its debut. The funds will be used to power future M&As and business expansion plans in Singapore and Southeast Asia, the company said.
Antibody-drug conjugate (ADC)-focused Callio Therapeutics debuted on March 3 with the closing of a $187 million series A financing round based on cancer drug technology and assets in-licensed from Hummingbird Bioscience Pte Ltd.
After withdrawing plans for an IPO last year, Orum Therapeutics Inc. made its debut on the Korea Exchange in 2025 with a ₩50 billion (US$34.7 million) raise as South Korea’s first biopharma IPO of the year.
Harrison.ai raised AU$179 million (US$112 million) in a series C round to expand its radiology and pathology solutions across the U.S., Europe, the Middle East, Africa and Asia Pacific.
Biopharma companies secured $5.91 billion across 93 transactions in January 2025, a continuing upward swing from $4.69 billion in December and $3.6 billion in November 2024.
Ascentage Pharma Group Corp. Ltd. has priced the first IPO of the year in the U.S. The offering of 7.32 million shares has the Suzhou, China, and Rockville, Md.-based company looking for gross proceeds of about $126.4 million, assuming a price of $17.25 per share.
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