Recent Articles in IPO/Stock Watch

RemeGen, a Yantai biotech approaching commercial stage, completed a $515 million IPO on the Hong Kong exchange in the largest biotech IPO of the year. Founded in 2008, RemeGen is developing a portfolio of ten novel mAbs, fusion proteins, antibody-drug conjugates (ADCs) and bifunctional antibodies. Two of its candidates are under NDA review in China: telitacicept for autoimmune diseases (systemic lupus erythematosus) and disitamab vedotin for HER2 cancers. The company's shares have traded 34% higher since the IPO, giving RemeGen a market capitalization of $4.3 billion. More details....

Stock Symbol: (HK: 9995)

Share this with colleagues:

JW Therapeutics, a Shanghai cell therapy company, raised $300 million in its Hong Kong IPO at a market capitalization of $1 billion. In 2016, JW was founded as a JV between Juno Therapeutics of Seattle and WuXi AppTec to bring Juno's CAR-T candidates to China. The company's NDA for its lead candidate, an anti-CD19 CAR-T therapy, is under review in China as a third-line treatment for B-cell lymphoma. JW priced its IPO at HK$23.80, the top of the expected range, but it slipped to HK$22 in its first trading session. More details....

Stock Symbols: (HK: 2126) (SHA: 603259; HK: 2359)

Share this with colleagues:

India's Gland Pharma, a majority-owned subsidiary of Shanghai Fosun Pharma, was approved for an $814 million IPO on India's Sebi exchange. The Hyderabad-based drug company makes generic injectible drugs for international markets. In 2017, Fosun paid $1.1 billion for a 74% stake in Gland. About $170 million of the IPO will be company shares, while $644 million will go to existing shareholders, a combination of Fosun and long-term investors including the founding family. More details....

Stock Symbol: (SHA: 600196; HK: 2196)

Share this with colleagues:

Everest Medicines of Shanghai completed a $451 million IPO in Hong Kong to develop its portfolio of eight assets in-licensed for China development. The company's stock climbed 32% in its first trading session. Founded in 2017, Everest was incubated by CBC Group (formerly C-Bridge Capital) to be its China in-licensing company. The company's eight products address needs in oncology, immunology, cardio-renal and infectious diseases, several of which are in late-stage development or have filed for approval. More details....

Stock Symbol: (HK:1952)

Share this with colleagues:

Genor Biopharma of Shanghai raised $371 million in its Hong Kong IPO, pricing the offering at the top of the range. In early trading, Genor rose 22%, giving the company a market capitalization of $1.8 billion. Founded in 2007, Genor has a portfolio of 15 mAbs and recombinant fusion proteins, comprising novel drugs and biosimilars that target indications in cancer, metabolic and autoimmune diseases. Hillhouse, which led a $160 million Series B financing in Genor earlier this year, owns 30% of the company's shares post-IPO. More details....

Stock Symbol: (HK: 6998)

Share this with colleagues: