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Asia's Nasdaq? Hong Kong‘s Quest To Be IPO Power House Has Blessings And Curses

 
• By Brian Yang

Hundreds of executives showed up at an inaugural biotech summit organized by the Hong Kong Stock Exchange, setting the stage for a showdown between the territory and the most popular destination for biotech IPOs, Nasdaq in the US. Despite recent rule changes to allow pre-revenue biotechs to gain a listing more easily, executives still see hurdles that are associated with Hong Kong's close proximity to the very market it is trying to allure, mainland China.

HKEX
From right to left, Charles Li, Chris Chen, Wang Jun and Wang Xiaodong at the summit. • Source: Hong Kong Stock Exchange

Newly released rule changes from the Hong Kong Stock Exchange will relax the listing requirements for fast-growing companies that are pre-revenue or have no revenue at all. The main goal is to provide the necessary capital to help such companies to growth, said Charles Li, CEO of the exchange, during an inaugural biotech summit organised by the exchange and held on Feb. 23 in Hong Kong.

Under the revisions - due to become effective in late April - sectors with high growth such as biotech will be able to list their shares on a new chapter of

More from Financing

Finance Watch: Deerfield Closes $600m-Plus VC Fund; Gates Speeds Up Health Investments

 
• By Mandy Jackson

Private Company Edition: Deerfield’s third innovations fund will back therapeutics and other opportunities, the Gates Foundation – a sometimes funder of biotech firms – will spend $200bn over the next 20 years, and NewLimit raised a $130m series B round, among other financings.

HAYA Raises $65m To Take First Long Non-Coding RNA Program Into The Clinic

 
• By Mandy Jackson

HTX-001 targeting the long non-coding RNA known as Wisper is being developed for non-obstructive hypertrophic cardiomyopathy. HAYA partnered with Lilly last year in obesity.

Sanofi R&D Head’s Words Of Wisdom For Biotechs

 
• By Kevin Grogan

Houman Ashrafian tells delegates at Swiss Biotech Day that ‘literally only two things matter in our industry – target credentialing and differentiated pharmacology. The rest is execution.’

Switzerland Biopharma To Stay Strong Despite More Cash Going To US And China

 
• By Kevin Grogan

The sector is continuing to show resilience despite financial and market challenges.

More from Business

Finance Watch: Deerfield Closes $600m-Plus VC Fund; Gates Speeds Up Health Investments

 
• By Mandy Jackson

Private Company Edition: Deerfield’s third innovations fund will back therapeutics and other opportunities, the Gates Foundation – a sometimes funder of biotech firms – will spend $200bn over the next 20 years, and NewLimit raised a $130m series B round, among other financings.

Pharma Left Hanging After US/UK Trade Pact

 
• By Kevin Grogan

An ‘historic economic prosperity deal’ does not include the sector.

Viatris Will File ‘Fast-Acting’ Meloxicam For FDA Approval This Year

 
• By Joseph Haas

Seven years after acquiring it, Viatris will seek approval of a meloxicam formulation for acute pain backed by data from two Phase III studies in post-surgical pain settings.