Hong Kong IPO market heats up
Two more Chinese biotechs have lined up to go public on the Hong Kong stock exchange as investors continue to be bullish on the sector, shrugging off U.S.-China tensions and a global pandemic.
Last week, JW Therapeutics and Harbour BioMed both submitted an IPO application to the exchange. JW’s listing is expected to raise between $200 million to $300 million, while Shanghai-based Harbour BioMed is planning to fetch as much as $300 million from its IPO, according to some reports.
JW, the joint venture between Juno Therapeutics and WuXi AppTec, plans to use the bulk of the capital to continue the development of its core CAR-T cell therapy, relmacabtagene autoleucel, or JWCAR029. The anti-CD19 cancer therapy is being studied in five types of leukemia. In June, the company submitted the drug to the National Medical Products Administration for approval as a third-line treatment for diffuse large B cell lymphoma (DLBCL).
Meanwhile, Harbour BioMed plans to fund its anchor assets, which include autoimmune disorder therapy batoclimab (HBM9161), drug eye disease drug tanfanercept (HBM9036), and HBM4003, the company’s core cancer therapy. In February, the U.S. Food and Drug Administration gave the company the go-ahead to start clinical trials for the anti-CTLA-4 antibody in treating advanced solid tumors.
Last week, JW Therapeutics and Harbour BioMed both submitted an IPO application to the exchange. JW’s listing is expected to raise between $200 million to $300 million, while Shanghai-based Harbour BioMed is planning to fetch as much as $300 million from its IPO, according to some reports.
JW, the joint venture between Juno Therapeutics and WuXi AppTec, plans to use the bulk of the capital to continue the development of its core CAR-T cell therapy, relmacabtagene autoleucel, or JWCAR029. The anti-CD19 cancer therapy is being studied in five types of leukemia. In June, the company submitted the drug to the National Medical Products Administration for approval as a third-line treatment for diffuse large B cell lymphoma (DLBCL).
Meanwhile, Harbour BioMed plans to fund its anchor assets, which include autoimmune disorder therapy batoclimab (HBM9161), drug eye disease drug tanfanercept (HBM9036), and HBM4003, the company’s core cancer therapy. In February, the U.S. Food and Drug Administration gave the company the go-ahead to start clinical trials for the anti-CTLA-4 antibody in treating advanced solid tumors.
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