Chengdu Kelun Biotech, a subsidiary of Sichuan Kelun Pharma, will stage an IPO on the Hong Kong Exchange. Kelun develops novel biologics – especially ADCs -- and small molecule drugs for oncology, autoimmune, inflammatory and metabolic indications. In 2022, Kelun out-licensed ex-China rights for some of its products to Merck/MSD in three separate agreements with a value of up to $12 billion, a record amount. Using its proprietary platforms, Kelun Bio has built a portfolio of 33 novel candidates, including 13 assets in clinical trials. It has filed a China NDA for its anti-PD-L1 candidate as a nasopharyngeal cancer therapy. More details....

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Structure Therapeutics raised $161 million in a successful US IPO to support development of its oral therapeutics portfolio aimed at chronic metabolic and pulmonary diseases. The company, formerly known as ShouTi, uses advanced computational and structure-based technology for R&D of its products, which are designed to overcome limitations of current biologic and peptide drugs. Schrödinger, a New York City company that uses advanced molecule simulations to discover drugs, is a co-founder of Structure. The IPO priced at the top of its range and traded 73% higher. Structure is based in Shanghai and San Francisco. More details....

Stock Symbol: (NSDQ: GPCR)

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Structure Therapeutics, a South San Francisco-Shanghai company developing GPRC drugs based on structural design, filed for a $100 million IPO on NASDAQ. Previously known as ShouTi, Structure is developing novel oral therapeutics for chronic diseases in pulmonary, metabolic and cardiovascular indications that are unmet needs. The company was co-founded by CEO Raymond Stevens, a Scripps Research expert in structure-based drug discovery, along with Schrodinger, an AI molecular-based drug discovery company. Structure is headquartered in South San Francisco with an R&D facility in Shanghai. More details....

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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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Shandong Boan Biotech, a subsidiary of Yantai’s Luye Pharma, plans to stage an IPO on the Hong Kong Exchange. The company was formed by Luye in 2013, but in 2018, Luye acquired Boan at a rumored price of $205 million, implying some outside ownership. Luye had already in-licensed four of Boan’s biosimilars. Currently, Boan has one marketed product, an Avastin biosimilar. The company develops therapeutic antibodies for oncology, metabolism, autoimmunity and ophthalmology indications along with two COVID therapies in China clinical trials. Altogether, Boan is advancing seven novel antibody products and five biosimilars. More details....

Stock Symbol:  (HK: 2186)

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