Clover, Chengda IPOs Add To $1.2bn Raised By Chinese Bioventures
The listings of two vaccine manufacturers and fundraisings by seven other biopharma ventures generate around $1.2bn in new financing for Chinese companies focusing on a broad variety of therapeutic areas and indicating continued investor interest.
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Nasdaq, Hong Kong and soon Shanghai, major Chinese firm BeiGene will be listed on three stock markets globally. But the high offer price of its imminent debut on China's STAR Market has raised concern among some investments and involved the use of a rare mechanism in the country.
Akeso’s PD-1/CTLA-4-targeting therapy cadonilimab has been the front-runner in the bispecific antibody field in China, leading about 50 other similar agents under development by domestic pharma firms. With a new conditional approval, it has also gained a head start over home-grown PD-1/L1 antibody rivals in the cervical cancer space.
Five Chinese bioventures have raised more than $70m from venture capital and private equity funds since late May.