Chinese peptide therapeutics developer Shaanxi Micot Pharmaceutical Technology Co. Ltd. is seeking up to HK$1.22 billion (US$155 million) in a Hong Kong IPO to advance its lead phase III chronic kidney disease candidate, MT-1013, and next-generation obesity therapies.

Antimicrobial-focused Tennor Therapeutics Ltd. will debut in Hong Kong May 22, having priced a HK$626.84 million (US$80 million) IPO. The Suzhou, China-based biotech is waiting on China’s National Medical Products Administration approval of lead asset rifasutenizol (TNP-2198), which has potential to become the first targeted combination regimen to treat H. pylori infection.

Antimicrobial-focused Tennor Therapeutics Ltd. will debut in Hong Kong May 22, having priced a HK$626.84 million (US$80 million) IPO. The Suzhou, China-based biotech is waiting on China’s National Medical Products Administration approval of lead asset rifasutenizol (TNP-2198), which has potential to become the first targeted combination regimen to treat H. pylori infection.

Metis Techbio Co. Ltd. is seeking a potential HK$2.11 billion (US$270 million) raise through a stock sale May 13, marking the largest biotech raise on the Hong Kong Stock Exchange this year to date. Hangzhou, China-based Metis is an AI-based nanoparticle drug formulation and delivery-focused company. Synthetic lethality-based cancer drugmaker Impact Therapeutics Inc., of Shanghai, plans to debut on the same day with a US$117 million IPO.

Advanced Biomed Inc. reported Dec. 30 the sale of its wholly owned Hong Kong subsidiary, Advanced Biomed (HK) Ltd., and related intellectual property to buyer Wei Ha Hui for $23,000.

Hanx Biopharmaceuticals (Wuhan) Co., Ltd. raised HK$586 million (US$75.37 million) in its IPO on the Hong Kong Securities Exchange (HKEX:3378) on Dec. 23 to advance its clinical stage immuno-oncology pipeline.

Hanx Biopharmaceuticals (Wuhan) Co., Ltd. raised HK$586 million (US$75.37 million) in its IPO on the Hong Kong Securities Exchange (HKEX:3378) on Dec. 23 to advance its clinical stage immuno-oncology pipeline.

Nchroma Bio Inc. has received a certificate for clinical trial in Hong Kong to initiate a first-in-human phase I/II trial of CRMA-1001 for the treatment of chronic hepatitis B virus (HBV) infection. Dosing is expected to begin early next year.

Seventy-three pharmaceutical, biotechnology and medical device companies from mainland China filed for IPOs in Hong Kong this year, a review by BioWorld found. In the second half of 2025, 43 new securities reports were filed on the Hong Kong Stock Exchange, increasing from the 30 applications in the first half.