RemeGen Stages $410 Million Shanghai IPO; Trades Lower
publication date: Apr 1, 2022
RemeGen, a Yantai biotech with a deep portfolio of antibody and dual therapies, completed a $410 million IPO on the Shanghai Star Exchange. Although the offering was heavily oversubscribed, the company’s stock slipped 10% lower in the first two days of trading. Two years ago, RemeGen raised $515 million in a Hong Kong initial offering. Founded in 2008, the company is developing a portfolio of 20 novel mAbs, fusion proteins, antibody-drug conjugates and bifunctional antibodies. Two of its products are approved for use in China: telitacicept for lupus and disitamab vedotin for two HER2-related cancer indications. More details....
Stock Symbol: (SHA: 688331; HK: 9995)
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