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Ascentage Pharma Completes $53 Million Hong Kong IPO

publication date: Oct 25, 2019

Ascentage Pharma of Suzhou completed a $53 million Hong Kong IPO, pricing the offering at the top end of the indicated range with a market capitalization of almost $890 million. The company is developing therapeutics for cancer based on its expertise in protein-protein interaction and apoptosis. Its lead drug, HQP1351, is in Phase II/III trials for chronic myeloid leukemia. Some of the IPO proceeds will be earmarked for commercialization of the candidate. Sino Biopharm was a cornerstone investor in the transaction with an order for $20 million of shares. More details....

Stock Symbol: (HK: 1177)

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