Week in Review: Shanghai Junshi Biosciences Files for $500 Million Hong Kong IPO

20:24 EDT 11 Aug 2018 | ChinaBio Today

Deals and Financings 

  • Shanghai Junshi Biosciences, which is developing a pipeline of 13 biologic drugs,  filed for a Hong Kong IPO that is expected to raise up to $500 million;
  • Nanjing Sanpower sold its Dendreon pharmaceutical subsidiary to Cenbest, one of its other holdings, in exchange for $868 million of stock;
  • Harbour Biomed in-licensed China rights to a bispecific HER2 antibody from Glenmark Pharma, an Indian-French biopharma, in a $120 million agreement;
  • Tot Biopharm of Suzhou closed a $102 million Series B financing round to develop ten oncology drugs, including an Avastin biosimilar in a Phase III trial;
  • China Medical System signed a $74.5 million agreement with Can-Fite Biopharma, an Israeli biotech, for China rights to two clinical-stage candidates;
  • Shandong Luoxin Pharma signed a $68 million agreement to acquire greater China rights to a constipation treatment from Synergy Pharma of the US;
  • Cure Genetics of Suzhou, a startup based on gene editing technologies, closed a $17 million Series A financing, led by Qiming Venture Partners;
  • EdiGene, a Beijing company that uses genome editing technologies to develop novel drugs, completed a $15 Million Series Pre-B financing;

Trials and Approvals

  • Gilead Sciences received China approval to market Genvoya, its combination-drug treatment for HIV-1;
  • BeiGene, a Beijing oncology biopharma, dosed the first patient in a China Phase III trial of its PD-1 antibody as a first-line treatment for lung cancer;
  • I-Mab Biopharma, a Shanghai company, has been approved to begin China trials of a novel type 2 diabetes treatment;
  • Shanghai's I-Mab BioPharma submitted an IND in China for approval to conduct clinical trials of its immuno-oncology multiple myeloma treatment;

IPO Watch 

  • Two China biopharmas, Ascletis and BeiGene, completed IPOs in Hong Kong but traded lower on the market, which may negatively impact later IPOs of China biopharmas on the Hong Kong exchange.

Stock Symbols: (HK: 867) (NYSE: CANF; TASE: CFBI) (NSDQ: SGYP) (NSDQ: GILD) (NSDQ: BGNE; HK: 06160)

Share this with colleagues:

Original Article: Week in Review: Shanghai Junshi Biosciences Files for $500 Million Hong Kong IPO


More From BioPortfolio on "Week in Review: Shanghai Junshi Biosciences Files for $500 Million Hong Kong IPO"

Quick Search


Relevant Topic

An antibody is a protein produced by the body's immune system when it detects harmful substances, called antigens. Examples of antigens include microorganisms (such as bacteria, fungi, parasites, and viruses) and chemicals. Antibodies may be produc...