Recent Articles in IPO/Stock Watch

Suzhou's BrightGene Bio-Medical completed a $74 million IPO on the Shanghai Star Exchange and climbed 141% higher in its first trading session, giving the company a market capitalization of $1.8 billion. Founded in 2001, BrightGene develops novel drugs as well as hard-to-make generics, APIs and finished drugs. The company is developing immunoncology treatments, oral GLP-1RA peptides for type 2 diabetes, antibody drug conjugates for solid tumors, and novel non-antibody dependent tumor targeting conjugates for brain cancer and solid tumor brain-metastases. More details....

Stock Symbol: (SHA: 688166)

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Suzhou's Tot Biopharm completed a $66.5 million IPO on the Hong Kong Exchange to support development of its novel and biosimilar cancer drugs. Tot's portfolio consists of seven biological and five chemical candidates, all but one of them developed in-house. Its products include mAbs, antibody drug conjugates (ADCs), oncolytic virus products and specialty oncology drugs such as liposome drugs. Tot's lead product is an Avastin biosimilar that is expected to launch in late 2020 or early 2021. More details....

Stock Symbol: (HK: 1875)

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Sino Medical Sciences completed an IPO on the Shanghai STAR Exchange last week, raising $50 million at a market capitalization of $412 million. The company makes high-end novel interventional medical devices for cardiovascular needs. Its products include drug eluting stents, balloon catheters, coronary stents and transcatheter mitral valve replacement kits. SinoMed's stock price rose as much as 217% in its first trading day. Founded in 2007, the company's headquarters and other operations, including R&D and production, are located in Tianjin. More details....

Stock Symbol: (SHA: 688108)

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SinoMab Bioscience, a Hong Kong company that develops antibodies and immunotherapies for autoimmune diseases and cancer, will raise up to $223 million in a Hong Kong IPO. The company’s lead candidate, SM03, is a global first-in-class mAb that is currently in a China Phase III trial for rheumatoid arthritis. SM03 targets CD22, a novel antigen found only on B cells. SinoMab expects to submit an NDA for SM03 by mid-2020. SinoMab began offering shares today and will continue until November 5, with trading starting on November 6. More details....

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I-Mab, a Shanghai biopharma, has filed to IPO on the NASDAQ Exchange with the goal of raising up to $100 million. The company was formed in 2017 when Third Venture Biopharma merged with Tasgen Biotech and completed a $150 million initial funding, led by C-Bridge Capital and Shanghai Tasly Pharma. Currently, I-Mab is developing a portfolio of 11 biologics for oncology and inflammatory indications, including immunotherapies. Eight of its candidates are in clinical trials. In 2018, I-Mab closed a $220 million C financing, one of the largest ever for a China biopharma. More details....

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