BEIJING – Zhongshan-based Akeso Inc., which focuses on bispecific antibodies, is again seeking pre-revenue listing on the Hong Kong Stock Exchange (HKEX), after its first IPO attempt failed to go through in December. The move comes at a time when analysts believe the coronavirus outbreak is weighing on the city’s IPO market. The second application, submitted on Feb. 3, was again supported by Morgan Stanley and J.P. Morgan. The clinical-stage biotech is reportedly seeking $300 million to support its R&D through the IPO, particularly its core asset, AK-104, a PD-1/CTLA4 bispecific antibody.
PERTH, Australia – Sydney-based Noxopharm Ltd. announced that its spin-off, Nyrada Inc., began trading on Australia’s Securities Exchange (ASX:NYR) on Jan. 16, following an oversubscribed IPO that raised AU$8.5 million (US$5.8 million).
Shanghai-based I-Mab Biopharma Co. Ltd. became the first IPO out of the gate this year, pricing its IPO of about 7.4 million American depositary shares (ADSs) – each 10 representing 23 ordinary shares of the company, par value $0.0001 per share – at $14 each, within the planned range of $12 at the low end and $15 at the high. But the stock’s performance might not have been all investors hoped, as shares (NASDAQ:IMAB) closed at $12.50 Jan. 17.
BEIJING – After Suzhou, China-based Ascentage Pharma Group International launched a $53 million IPO on the Hong Kong Stock Exchange (HKEX) last week, Tot Biopharm International Co. Ltd., also from Suzhou, and Sinomab Bioscience Ltd., of Hong Kong, will also debut on the bourse to reap as much as $87 million and $223.1 million, respectively, in the following two weeks.
HONG KONG & BEIJING – Chinese biosimilar make Shanghai Henlius Biotech Inc. is ready to list on the Hong Kong Stock Exchange (HKEX) on its second try. The firm plans to issue 64.7 million shares globally under the stock code 2696. The maximum offer price is HK$57.8 per share, which means the biosimilar maker could raise as much as HK$3.74 billion (US$477 million).