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Innovent to Raise $422 Million in Hong Kong IPO at $2 Billion Valuation

publication date: Oct 15, 2018

Innovent Biologics of Suzhou plans to raise $422 million in its Hong Kong IPO at a $2 billion valuation, according to multiple media reports. The company, formed in 2011, struck a major $1 billion collaboration with Lilly in 2015. It has a pipeline of 17 candidates (a combination of novel drugs and biosimilars), nine of them in clinical trials and four in Phase III tests. The underwriters will price the shares on October 23, with trading expected to start October 31. More details....

Stock Symbol: (NYSE: LLY)

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