Recent Articles in IPO/Stock Watch

Junshi Biosciences filed to IPO on Shanghai's new Technology & Innovation Exchange, after the company completed a $394 million Hong Kong IPO in December 2018. Junshi plans to list 10% of its shares in the IPO, which means the IPO would raise about $400 million before fees. It will be the first biopharma to have a dual Hong Kong/Shanghai High-Tech listing. Junshi did very well after its Hong Kong IPO, rising 65% from the IPO price. In January, Junshi was approved to launch its PD-1 immunotherapy, Tuoyi, for multiple myeloma. More details....

Stock Symbol: (HK: 1877; NEEQ: 833330)

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Tot Biopharm, a Suzhou oncology company backed by Chengwei Capital, filed to IPO on the Hong Kong Exchange. The company has developed a portfolio of more than ten candidates including three biologics and three small molecule drugs that are approved to conduct China clinical trials. Founded in 2010, Tot has raised a total of $108 million, most of which was a $102 million Series B funding, completed in 2018 and led by 99 Fund and China Universal. More details....

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Viva Biotech, a Shanghai CRO that includes partnering as part of its business plan, will seek to raise $194 million in a Hong Kong IPO that values the company at $750 million. Viva is a structure-based, integrated drug discovery CRO. For selected clients, Viva offers a Equity for Services model that provides clients about $1.5 million in either cash or services in return for equity. Viva expects to hold half the equity for about 2.5 years and the rest for 5.5 years. So far, it has earned returns of between 200% and 500% on five closed investments. More details....

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Hutchison China MediTech (Chi-Med) filed to IPO on the Hong Kong Exchange, following listings in London and on NASDAQ, where it has a market capitalization of over $4 billion. In September 2018, Chi-Med was approved to launch fruquintinib in China, the first novel China-developed targeted treatment for cancer. The IPO is expected to raise between $300 million and $500 million. Chi-Med's parent, the conglomerate CK Hutchison, said it will reduce its Chi-Med holdings from 60% at present to less than 50% as part of the offering -- a block that is worth at least $400 million. More details....

Stock Symbol: (AIM/NSDQ: HCM)

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