After raising HKD$320 million (US$40.8 million) in its IPO on the Hong Kong Stock Exchange last week, Immuneonco Biopharmaceuticals Co. Ltd.’s stock has continued to rise, and analysts are expecting the Hong Kong market to pick up after a slack start to the year.
Opthea Ltd. plans to raise AU$80 million (US$51.2 million) via a AU$10 million private placement and a AU$70 million entitlement offer to continue its pivotal phase III trials in wet age-related macular degeneration (wet AMD) for lead candidate OPT-302.
Seoul, South Korea-headquartered Boryung Co. Ltd. grabbed headlines in 2022 with its strategic redesign to move beyond drug development, announcing that it would invest $10 million in Axiom Space Inc. for a 0.4% stake in the U.S. commercial space station developer. The investment ramped up over the course of a year, with Boryung pouring a total of $60 million into Axiom Space over two financing rounds for a 2.7% stake. Axiom is set to build the world’s first commercial space station.
Jyong Biotech Ltd. filed for an IPO that could raise as much as $40 million to advance a pipeline that includes several prospects for urinary system disorders, including one that has reached the NDA stage in the U.S.
On Aug. 3, Sunho Biologics Inc. filed to list on the Hong Kong Exchange, armed with its antibody and immunocytokine drug pipeline and post-investment valuation of ¥1.41 billion (US$196 million).
Gracell Biotechnologies Inc. stands to gain up to $150 million from an assorted bouquet of private U.S. health care investors to lay a solid foundation for clinical trials of its leading dual-targeting CAR T-cell candidate, GC-012F, and provide a cash runway into the second half of 2026.
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