Chinese Biotechs Raise $743m In Three March IPOs
RemeGen touched down in Shanghai to score a dual listing on top of a 2020 initial public offering in Hong Kong. Meanwhile, domestic HPV vaccine maker Recbio and small molecule-focused Shouyao made their debuts on the Hong Kong and Shanghai markets respectively.
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RemeGen’s second approval after a green light for its lupus drug signals accelerating approvals for domestically-developed antibodies in China.
Five Chinese bioventures have raised more than $70m from venture capital and private equity funds since late May.
With the first half of 2022 ending, two Chinese developers of innovative drugs - antibody specialist Chongqing Genrix Biopharmaceutical and Suzhou Teligene, which focuses on small molecules, are looking to go public on Shanghai’s STAR Market, ending a recent drought of biopharma listings.