Genrix grossed $478.9m in the largest initial public offering from an innovative drug-focused biotech on Shanghai's STAR Market since February 2022. Meanwhile, Laekna and Cutia launched two smaller IPOs in Hong Kong.

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.

Jiangsu Hengrui subsidiary Reistone and Shanghai Laekna raise a combined $161m for their innovative candidates.

A busy stretch of deal-making across Asia all includes transactions involving Innovent, Alector, Ono, Numab, Alphamab, 3DMed, Healios, Athersys, Laekna, Novartis, Asahi Kasei, SBI Biotech, Glenmark, Hindustan Unilever, Hanlim, Alteogen, Ildong, Evotec, AJU Pharm, Ribomec, Tyligand, Context