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Hong Kong's First 2022 Biotech IPO Debuts

Plus Other Broad Funding Across Modalities

 
• By Dexter Jie Yan

One IPO on the Hong Kong Stock Exchange and seven venture capital or private equity deals raised a combined $329m in China in February.

fund raising
VC/PE investors continued injecting capitals into Chinese biotechs, and small molecule developers obtained the largest share. • Source: Alamy

Shanghai-based immuno-oncology developer Lepu Biopharma went public on 23 February, becoming the first biotech to be listed in 2022 on the Hong Kong Stock Exchange.

The company grossed HKD904.6m ($115.8m) by selling 126.9 million new shares at HKD7.13 each. The bulk of the proceeds will be used to fund Lepu’s clinical programs including MRG003, an...

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