Lineup for Hong Kong IPO grows
With investors bullish on the Chinese biotech sector, two more clinical-stage companies filed paperwork last week to list on the Hong Kong Stock Exchange.
Shanghai-based Antengene has been planning a listing in Hong Kong for some time. Led by ex-Celgene executive Jay Mei, the cancer drug developer is looking to raise about $200 million, according to an IFR report. Founded in 2016, the company’s first pipeline asset is onataserib, an mTORC1/2-targeting cancer drug candidate that was in-licensed from Celgene — now part of Bristol Myers Squibb — and currently in Phase 2 trials.
Antengene’s other core asset is in-licensed selinexor, Karyopharm Therapeutics’s XPO1 inhibitor marketed in the U.S. as Xpovio. The company has rights to develop and commercialize selinexor and three other novel compounds from Karyopharm in China and other Asia-Pacific markets.
Bio-Thera Solutions, which raised $241 million in its IPO on Shanghai’s STAR market in February, hopes to repeat its success with another listing this time in Hong Kong. The Guangzhou-based biotech has a pipeline of 24 drug assets, anchored by Qleti, the company’s Humira biosimilar and first commercialized product approved last year. The company said the money raised will go toward developing its core assets, including BAT4306F, an anti-CD20 therapy for treating B-cell non-Hodgkin lymphoma and other similar malignancies; BAT8001, an anti-HER2 antibody-drug conjugate for breast cancer; and BAT1706, an Avastin biosimilar expected to be approved next year and recently licensed to BeiGene for commercialization in China.
Shanghai-based Antengene has been planning a listing in Hong Kong for some time. Led by ex-Celgene executive Jay Mei, the cancer drug developer is looking to raise about $200 million, according to an IFR report. Founded in 2016, the company’s first pipeline asset is onataserib, an mTORC1/2-targeting cancer drug candidate that was in-licensed from Celgene — now part of Bristol Myers Squibb — and currently in Phase 2 trials.
Antengene’s other core asset is in-licensed selinexor, Karyopharm Therapeutics’s XPO1 inhibitor marketed in the U.S. as Xpovio. The company has rights to develop and commercialize selinexor and three other novel compounds from Karyopharm in China and other Asia-Pacific markets.
Bio-Thera Solutions, which raised $241 million in its IPO on Shanghai’s STAR market in February, hopes to repeat its success with another listing this time in Hong Kong. The Guangzhou-based biotech has a pipeline of 24 drug assets, anchored by Qleti, the company’s Humira biosimilar and first commercialized product approved last year. The company said the money raised will go toward developing its core assets, including BAT4306F, an anti-CD20 therapy for treating B-cell non-Hodgkin lymphoma and other similar malignancies; BAT8001, an anti-HER2 antibody-drug conjugate for breast cancer; and BAT1706, an Avastin biosimilar expected to be approved next year and recently licensed to BeiGene for commercialization in China.
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