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Boan Stages $20 Million Hong Kong IPO for Biosimilar/Novel mAb Drugs

publication date: Dec 30, 2022

Shandong Boan Biotech. a Luye Pharma subsidiary, completed a $20 million IPO on the Hong Kong Exchange to support its portfolio of biosimilars and novel mAb candidates. In 2019, Luye acquired Boan at a rumored price of $205 million after Luye in-licensed rights to four of Boan’s biosimilars. Founded in 2013, Boan is developing 12 products for oncology, metabolism, autoimmunity and ophthalmology. In its portfolio, the company has two approved biosimilars, another three biosimilars in China Phase III trials, three innovative drug candidates and six undisclosed molecules. Boan’s new shares, which began trading today, closed the session unchanged. More details....

Stock Symbol: (HK: 6955)

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