Recent Articles in IPO/Stock Watch

Shanghai Laekna Therapeutics completed an IPO on the Hong Kong Exchange that raised $100 million for its portfolio of biologic therapies. The shares traded 20% higher in its first trading day. Founded in 2016, the company has a portfolio consisting of two core products, both in-licensed from Novartis, plus 14 other pre-clinical candidates aimed at cancer and liver fibrosis. It has started six clinical trials for its two lead projects, including three multi-regional studies, one of which is a pivotal trial. The company will use the funds to advance its portfolio and build a manufacturing facility. More details....

Share this with colleagues:  

Shanghai’s Edding Group, a China in-licensing pharma, will conduct an IPO on the Hong Kong Exchange. It is the Market Authorization Holder for its three core in-licensed products: Vancocin, an antibiotic for MRSA, and Ceclor, a cephalosporin for gram +/- bacterial infections, both acquired from Lilly. From GSK, it has China rights to a nebulizer-delivered asthma therapy. Edding said the three core drugs produced 90% of its revenue, $273 million in 2022, and the company’s profits totaled $57 million. The company develops originator-branded anti-infectives, CVD, and respiratory system therapeutics, with synergistic value in pediatric care. More details....

Share this with colleagues:  

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: