BeiGene, CANbridge, Dizal IPOs Set China Biotech Fundraising Record But Share Prices Disappoint
BeiGene’s $3.5bn Shanghai IPO and CANbridge’s Hong Kong listing, as well as Dizal’s offering on the STAR market and five financing rounds totaling $508.5m help set a record for Chinese biotech fundraising in the last month of 2021.
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Jiangsu Yahong and 11 Chinese biotechs raised a combined $1.1bn via public listings and VC/PE deals in the run-up to and first week of the new year.
Plus deals involving Aculys/Neurelis, Xtalpi/Excelra, Abbisko/Lilly, Daiichi Sankyo/Cosette, Mitsubishi Tanabe/ADC Therapeutics and PersonGen/Transgene.
With the Lunar New Year just around the corner, Chinese biotechs have raised a total of $740m through initial public offerings and 10 other fundraising deals.