Maryland- and Suzhou, China-headquartered Ascentage Pharma became the first biopharmaceutical firm to complete an initial public offering in the US in 2025, pricing 7.33 million American depositary shares (ADSs) at $17.25 each to gross $126.4m on 24 January. Partnered with Takeda on lead asset olverembatinib for chronic myeloid leukemia (CML), Ascentage said the funds should give it financial runway into 2028 for its pipeline of small molecules in hematologic cancers.
Key Takeaways
- Already publicly traded in Hong Kong, Ascentage raised $126.4m in its 24 January IPO, making it the first biopharma company to go public in the US in 2025.
- The firm’s olverembatinib, optioned to Takeda, is on market in China and in a Phase III registrational trial for CML
Ascentage already trades on the Hong Kong stock exchange, but chairman and CEO Dahun Yang told Scrip that his company, founded in 2009, has always worked toward providing innovative cancer drugs for the global market
Read the full article – start your free trial today!
Join thousands of industry professionals who rely on Scrip for daily insights
- Start your 7-day free trial
- Explore trusted news, analysis, and insights
- Access comprehensive global coverage
- Enjoy instant access – no credit card required
Already a subscriber?
