Oncology Developer Yahong Bags China’s First Biotech IPO Of 2022
Active Funding Ahead Of Lunar New Year
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.
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In a vote of confidence, investors predict Shanghai IPOs to rise in 2022, while sluggish share performances in Hong Kong have made a public listing there more “a liquidity rather than an exit event.”
Private Company Edition: NVCA and Pitchbook data show pharma and biotech companies raised $37.8bn in venture capital in 2021, up 41% from the record $26.8bn total in 2020. Recent mega-rounds include $190m for Maze and $200m for Alumis, and Sound Bioventures raised a €110m fund.
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.