Cansino Biologics Inc. launched its second pre-revenue share offering on Aug. 13, reaping ¥5.2 billion ($749 million) from Shanghai’s STAR market. Trading under the ticker 688185, its shares surged 87.5% to close at ¥393 on the first trading day. The company, currently developing 16 vaccine candidates for 13 infectious diseases, has grabbed headlines this year for its COVID-19 vaccine candidate, Ad5-nCoV, which is due to enter phase III trials in Saudi Arabia shortly.
HONG KONG – Venture capital investment into most sectors in China has generally plunged throughout the COVID-19 pandemic but biotechnology has been a noticeable exception. China’s biotech industry has continued to attract investors, not only because of its importance in dealing with the pandemic but also as a result of increased maturity and a growing list of government incentives.
Biopharmas in Asia-Pacific raising money in public or private financings, including: Anheart, Curevac, Myovant Sciences, Sumitomo Dainippon, Taiwan Ministry of Health and Welfare, Tiziana Life Sciences, Transgene, Tasly, U.S. Department of Health and Human Services.
HONG KONG – Looking to boost its R&D capacity, China’s Sunshine Guojian Pharmaceutical (Shanghai) Co. Ltd. launched an IPO on July 22 that raised ¥1.7 billion (US$240 million) on Shanghai’s STAR market. Shares (SSE:688336) almost doubled in value on the first day of trading, closing at ¥54.10, for a gain of 92%.
HONG KONG – Chinese eye disease specialist Arctic Vision (Shanghai) Biotechnology Co. Ltd. raised $32 million in a series A financing round to advance its lead program, ARVN-001 (triamcinolone acetonide suprachoroidal injectable suspension).
HONG KONG – China and U.S.-based pharmaceutical company Antengene Corp. has closed a $97 million series C financing round, with proceeds mainly directed toward funding the continuing clinical development of its pipeline of hematology and oncology therapies.
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