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Finance Watch: Ascletis First Biotech To List Under New Hong Kong Rules, BeiGene Joins In

 
• By Ian Haydock and Mandy Jackson

Ascletis was the first with a new listing under new Hong Kong rules, but BeiGene also sold shares on the HKEX; the companies raised more than $1bn combined. Also, TherapeuticsMD sold stock in the US to commercialize Imvexxy, Curon raised the latest $150m VC mega-round, and NewLink cut jobs in R&D refocus.

Finance Watch

Chinese antiviral-focused venture Ascletis Pharma Inc. became the first biotech company to take advantage of revised and eased rules for the listing of pre-revenue/pre-profit ventures on the Hong Kong Stock Exchange (HKEX), raising HKD2.98bn ($379m) in an initial public offering on the main board of the HKEX on July 31.

Around 10 Chinese and other biotech ventures, including Hua Medicine Ltd., Innovent Biologics Inc

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