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Kelun-Biotech Raises $174 Million in Hong Kong IPO for ADC Portfolio

publication date: Jul 17, 2023

Sichuan Kelun-Biotech completed a $174 million IPO on the Hong Kong Exchange last week, pricing the offering at HK$66 per share, the middle of the proposed range. The IPO valued the company at $775 million. In 2022, Kelun-Bio made a name for itself by signing three ADC deals with Merck with total worth up to $12 billion, a record amount. The company develops novel biologics – it claims long-standing expertise in ADCs – along with small molecule drugs for oncology, autoimmune, inflammatory and metabolic indications. Kelun-Bio is a subsidiary of Sichuan Kelun Pharma. More details....

Stock Symbol: (HK: 6990)

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