Recent Articles in IPO/Stock Watch

OBiO Technology, a Shanghai CDMO for gene and cell therapies, completed an IPO on the Shanghai STAR Exchange and traded 67% higher on its first trading day, an unusually strong performance in the current market. The company did not disclose how much the offering raised. Founded in 2013, OBiO is a contract research organization for vectorology and functional genomics studies. It also provides contract development and manufacturing services of IND-enabling CMC, along with clinical and commercial manufacturing. To date, the company has supported more than 100 gene and cell therapy programs More details....

Stock Symbol: (SHA: 688238)

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Jiangsu Recbio Technology (HK: 2179) is conducting a $98 million Hong Kong IPO to support development of its vaccine portfolio. Recbio has a portfolio of 12 vaccine candidates including its lead product, a recombinant HPV 9-valent vaccine currently being tested in a Phase III clinical trial. The company is focused on protein-based subunit vaccines that present an antigen to the immune system without viral particles. Last year, Recbio formed a JV with Shenzhen Rhegen Biotech to develop an mRNA vaccine for COVID-19. More details....

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Beijing Lepu Biopharma completed a $116 million Hong Kong IPO and has traded only slightly lower, despite a generally skeptical global reception for pharmaceutical initial offerings recently. The IPO was priced at HK$7.13 per share and the company's shares closed down one cent. Lepu is developing a portfolio of in-licensed oncology candidates, including antibodies, oncolytic viruses and combination therapies. Its lead products are PD-1 and PD-L1 candidates. Lepu Bio was started as the drug development division of Lepu Medical, a medical device and equipment company. More details....

Stock Symbol: (HK: 2157) (SHZ: 300003)

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Lepu Biopharma of Beijing has begun taking orders for its $115 million Hong Kong IPO. The company has built a portfolio of oncology candidates that include eight products at clinical-stage, three in pre-clinical development and three combination therapies. It considers its PD-1 antibody a backbone of its development portfolio and has filed NDAs in China for two candidates. Because recent China life science IPOs have not held their value in post-IPO trading, the Lepu IPO will measure the appetite of investors for new biopharma offerings in 2022. More details....

Stock Symbol: (HK: 2157)

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Mabwell (Shanghai) Bioscience completed a $547 million IPO on Shanghai's STAR Board. Established in 2017, Mabwell is a clinical-stage antibody developer with 15 assets in its pipeline: three are in BLA stage, three in pivotal trials and six in Phase I/II trials. The company's lead candidates are biosimilars. It develops therapies for indications in auto-immune diseases, oncology, metabolic disorders, ophthalmologic diseases and infectious diseases. The company has a wholly-owned US subsidiary, Mabwell Therapeutics, in San Diego. Mabwell's shares have fallen 22% below their IPO price. More details....

Stock Symbol: (SHA: 688062)

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