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Boan Biotech’s IPO Application Accepted by Hong Kong Exchange

publication date: Dec 1, 2022

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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