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Shanghai Junshi Files for $500 Million HK IPO; Has $2 Billion Valuation

publication date: Aug 7, 2018

Shanghai Junshi Biosciences has filed for a Hong Kong IPO that is expected to raise up to $500 million. Junshi is developing a pipeline of 13 biologic drugs, including immuno-oncology treatments. Its most advanced candidate, toripalimab, is a PD-1 mAb whose NDA is currently being reviewed in China as a second-line treatment for melanoma. Earlier this year, the company also applied for approval to conduct clinical trials of toripalimab in the US. In March, Junshi floated a $30 million convertible bond offering at a $2 billion valuation. More details....

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