Recent Articles in IPO/Stock Watch

Cutia Therapeutics, a Shanghai dermatology company, completed a Hong Kong IPO that raised $65 million. The company’s technology platform customizes the transdermal delivery characteristics of drugs and develops micron and nano-sized particulates. Cutia said it would allocate 45% of the proceeds for trials of its lead adipose accumulation drug, currently in a Phase II trial. Formed in 2019, the company has raised $275 million in four rounds. Its investors include well-known names such as 6 Dimensions Capital, an VC firm tied to WuXi AppTec, as well as Yunfeng Capital, Sequoia Capital and Fidelity Investments (Hong Kong). More details....

Share this with colleagues:  

Shenzhen HighTide Therapeutics filed for an IPO on the Hong Kong Exchange to develop a portfolio of novel multifunctional drugs for metabolic and digestive diseases. The company’s lead candidate is berberine ursodeoxycholate, a gut-liver anti-inflammatory metabolic modulator that targets multiple pathways. HTD1801 is being developed for nonalcoholic steatohepatitis (NASH), type 2 diabetes and three other indications. The company is developing five assets for nine indications. Founded in 2011, HighTide was originally backed by Hepalink and its Chairman/CEO, Dr. Liu. In January 2023, HighTide closed a $107 million Series C/C+ funding. More details....

Share this with colleagues:  

Apollomics, a US-China biopharma, merged with a SPAC to list on the NASDAQ exchange to advance its portfolio of six clinical assets that are aimed at difficult-to-treat, high mortality cancers. At the merger price of $10/share, Apollomics had a market cap of about $900 million, but the shares have climbed 121% higher in trading, giving the company a value of $1.9 billion. Apollomics is headquartered in Foster City, CA with operations in Hangzhou. Using targeted therapy, immuno-oncology agents and other innovative approaches, Apollomics has built a portfolio of nine novel candidates. More details....

Stock Symbol: (NSDQ: APLM)

Share this with colleagues:  

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....

Share this with colleagues:  

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)

Share this with colleagues: