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Beijing Biostar To Ride HK IPO To Progress Lead Asset In 2L NSCLC

 
• By Dexter Jie Yan

Biostar plans to raise up to $41m through a Hong Kong IPO, which help the Chinese chemotherapy specialist progress lead asset utidelone for various oncology indications.

chemotherapy
Beijing Biostar is looking for a global partner to take its novel chemo drug utidelone outside of China. (Shutterstock)

Beijing Biostar Pharmaceuticals, a Chinese chemotherapy specialist, intends to ride a planned Hong Kong initial public offering to support a global comparative Phase II/III trial for its lead drug in PD-1/L1 immunotherapy-failed non-small cell lung cancer (NSCLC).

Key Takeaways
  • Biostar plans to raise up to HKD321m ($41m) in gross proceeds by selling 14.6 million new shares on the Hong Kong Stock Exchange
  • Biostar is exploring the potential of its lead asset utidelone versus docetaxel in NSCLC after failure of PD-1/L1 immunotherapy in combination with chemotherapy

Biostar plans to raise up to HKD321m ($41m) in gross proceeds by selling 14

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