Trade War Expansion? STAR Board Aims To Keep Lucrative China Biotech IPOs At Home
China has officially unveiled its newest stock market for pre-revenue high-tech companies, already attracting ChipScreen and marking a new rival to similar bourses in the US and Hong Kong. But some are cautioning that local regulators and investors will need to step up if the so-called China Nasdaq is to gain traction.
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Created to take on Nasdaq in the US, the Shanghai Stock Exchange’s STAR Market is celebrating its two-year anniversary with star performers such as CanSino. But its viability as an alternative will be tested by BeiGene, which is set to start trading in Shanghai following dual listings in New York and Hong Kong, with the latter continuing to attract other biopharma IPOs.
Daiichi Sankyo obtains rights to antiemetic Nasea and the anti-hypertension drugs Perdipine and Oldeca. Mitsubishi Tanabe licenses Asian rights to Viela’s inebilizumab for a rare eye disorder.
In its bid to facilitate novel treatments for some of its most prevalent cancers, China is also poised to make a dent in the global oncology market through domestically originated agents, with the number of PD-1 and CAR-T therapies under clinical development already surpassing that in the US.