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China's CARsgen Raises $400m In Third-Largest Biotech IPO This Year

 
• By Dexter Jie Yan

Chinese CAR-T therapy developer raises new funds to progress pipeline in over-subscribed IPO which ranks as the third-largest globally in the biotech sector to date this year.

fund raising
CARsgen Therapeutics Raises $400m in IPO • Source: Alamy

China's CARsgen Therapeutics raised HKD3.1bn ($400.3m) gross in an initial public offering on the Hong Kong Stock Exchange (HKEX) on 17 June, helping the chimeric antigen receptor T-cell (CAR-T) therapy developer take the top place by IPO size in the Greater China region so far this year.

A total of 94.7 million shares were priced at HKD32

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