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Ascentage Grosses $126.4m In First Biopharma IPO In The US For 2025

 
• By Joseph Haas

The China/US hematologic cancer-focused firm said the offering should give it runway into 2028, perhaps time enough to bring its top two pipeline assets to market in the US.

IPO
Ascentage lands the first biopharma IPO of 2025 • Source: Shutterstock

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.

Ascentage already trades on the Hong Kong stock exchange, but chairman and CEO Dahun Yang told Scrip that his company,...

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