Clinical-stage biopharma HBM Holdings Ltd. (also known as Harbour Biomed) debuted on the Hong Kong Stock Exchange on Dec. 10, raising HK$1.71 billion (US$220.7 million) to advance its autoimmune candidates to commercial launches in 2023.
Yantai, China-based biologics developer Remegen Ltd. launched the biggest pre-revenue biotech IPO in Hong Kong this year by raising HK$3.99 billion ($514.5 million) on Nov 9. With this IPO, Remegen’s CEO Jianmin Fang told BioWorld in an exclusive interview, the company aims to take its assets abroad.
PERTH, Australia – Opthea Ltd. completed a $128.2 million IPO on the U.S. Nasdaq market, which will fund two phase III trials in wet age-related macular degeneration (AMD) and bring the company’s lead candidate, OPT-302, to market if successful.
Chinese drugmaker Simcere Pharmaceutical Group Ltd. raised HK$3.57 billion ($460.6 million) in Hong Kong by issuing 261 million shares at HK$13.7 apiece on Oct 27. Its debut hit a setback, with its share price (HKEX:2096) dropping over 20% in mid-morning and extending losses to nearly 24% to close at HK$10.46.
The appetite for biopharma IPOs this year has been voracious with no signs of a slowdown anytime soon. Year-to-date, a total of $14.63 billion was raised from 66 new global issues, a total that is already well ahead of the $10.7 billion in 2018, from 80 transactions, that represented the previous record for IPOs. In terms of volume, BioWorld has recorded that the highest number of IPOs in a single year was 84 in 2014, followed by 83 in 2000.
BEIJING – Biologics developer Genor Biopharma Co. Ltd. raised HK$2.69 billion (US$347 million) via a pre-revenue IPO on the Hong Kong Stock Exchange on Oct. 7, with shares (HKEX:6998) trading 16.25% higher to close at HK$27.95.
BEIJING – Three-year-old startup Everest Medicines Ltd. (1952.HK) sold 63 million shares at HK$55 apiece to raise HK$3.49 billion (US$451 million) on the Hong Kong Stock Exchange on Oct 9. Shares were oversubscribed by 654 times in Hong Kong.
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.
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%.
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