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Hua Medicine in Hong Kong IPO Queue; Plans to Raise $400 Million

publication date: Mar 9, 2018

Hua Medicine of Shanghai is planning a $400 million IPO in Hong Kong to fund the company's diabetes drug, dorzagliatin, a novel oral diabetes 2 treatment. In January of this year, Hua's founder and CEO, Chen Li, said Hua would need $200 million over the next three years to complete development and commercialize the drug. Hua expects to be approved to market dorzagliatin in China during 2020. Like several other biopharmas, Hua will take advantage of new Hong Kong Exchange rules that allow not-yet-profitable biopharmas to list on the exchange. More details....

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