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Hua Medicine Stages $110 Million Hong Kong IPO at $1.1 Billion Valuation

21:39 EDT 14 Sep 2018 | ChinaBio Today

Hua Medicine of Beijing raised $110 million in a Hong Kong IPO at a valuation of $1.1 billion, the second pre-revenue China biopharma to list on the exchange. The offering was expected to bring in $200 million, but market sentiment has become  cautious. Hua will complete clinical trials of its lead drug candidate, dorzagliatin, a GKA activator, in 2019. Dorzagliatin is in Phase III China trials to treat type 2 diabetes as a monotherapy and in combination with metformin. More details....

Stock Symbol: (HK: 2552)

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