SinocellTech lists on Shanghai's STAR market
Beijing-based biotech SinocellTech debuted on the Shanghai stock exchange's Science and Technology Innovation Board, otherwise known as the STAR Market, raising approximately $181 million from its IPO.
Backed by venture capital firm Qiming Venture Partners, SinocellTech now boasts a market cap of $5 billion. The company was founded in 2007 by Liangzhi Xie, a chemical engineer trained at the Massachusetts Institute of Technology who started his career with Merck & Co.
SinocellTech specializes in producing monoclonal antibodies and recombinant proteins, and has a pipeline of 23 clinical-stage compounds. Two of its products are being reviewed by the National Medical Products Administration: SCT800, a recombinant protein used to treat hemophilia A, and SCT400, an anti-CD20 monoclonal antibody developed for treating non-Hodgkin lymphoma.
Backed by venture capital firm Qiming Venture Partners, SinocellTech now boasts a market cap of $5 billion. The company was founded in 2007 by Liangzhi Xie, a chemical engineer trained at the Massachusetts Institute of Technology who started his career with Merck & Co.
SinocellTech specializes in producing monoclonal antibodies and recombinant proteins, and has a pipeline of 23 clinical-stage compounds. Two of its products are being reviewed by the National Medical Products Administration: SCT800, a recombinant protein used to treat hemophilia A, and SCT400, an anti-CD20 monoclonal antibody developed for treating non-Hodgkin lymphoma.
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