Chinese Bioventures Grab $860m In Latest Public Listing, Financing Dash
Accelerated initial public listings, multi-million dollar deals and hot investment fund influxes fuel an already record-setting July for biotech fundraising in China.
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Both Nasdaq- and Hong Kong-listed shares in Chinese health-related companies have been free falling with heavy volumes, after foreign investors spooked by China's general crackdown on the tech sector rushed to exit. The two-day sell-off shows high uncertainty and investors' anxiety over the regulatory overreach but underlying fundamentals still seem strong.
Public Company Edition: Three $100m-plus US initial public offerings launched on 15 July after two smaller biopharma IPOs earlier in the month. Also, Gelesis announced a SPAC merger, Brii and Amniotics launched ex-US IPOs, and Intellia, Cerevel and Kymera priced large follow-on offerings.
China-focused venture goes against tide by acquiring anti-infective assets via multiple deals that will build out its pipeline in an area deprioritized by big pharma.