Chinese drug developer Shenogen tapping banks for $300m IPO

The company is the latest to take advantage of relaxed listing rules.

Bloomberg reports that Beijing-based cancer drug developer Shenogen Pharma Group is reportedly interviewing banks for an IPO that could raise as much as $300m.

Founded in 2006, Shenogen is working on a new therapeutic form to treat cancer by targeting a mechanism related to tumor metastasis. It is backed by investment firm IDG Capital, Legend Capital and Qiming Venture Partners.

The company is the latest in a list of biotech firms to take advantage of liberalised bourse rules that allows a broader list of healthcare firms to list after the bourse operator relaxed rules on profitability. It joins Amazon-backed cancer detection startup Grail Inc, Shanghai Henlius Biotech, and Hua Medicine who are also seeking a listing in Hong Kong later this year.

Also read: Hong Kong's bourse reform plan seeks to tap on Chinese drug stocks

Shenogen was founded by Charlie Wang, an expert in molecular cancer biology who used to be an assistant professor at Harvard Medical School, and Kun Meng, who completed postdoctoral training in the U.S. before returning to China.

Here’s more from Bloomberg:

Also Read

Debt use surges in Hong Kong, driven by lifestyle and property spending

Hong Kong sees 194% surge in credit monitoring enrollment

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit