Giant Biogene IPO: A Collagen Queen, or Saggy-Skinned Stepsister?

The fast-growing skin-care products maker has filed for a Hong Kong listing that could value it at about $8.5 billion Key Takeaways: Giant Biogene has filed for a Hong Kong IPO, thriving on growing popularity of skin care products from China’s growing middle class The company’s gross margin has improved steadily over the last three years on strong sales for more expensive professional skin-care products By Molly Wen As China’s “beauty economy” takes off, aesthetic medicines are developing by leaps and bounds, fueled by growing demand for facials, skin boosters…

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Amid Slowing Sales at Home, Innovent Biologics Stumbles Overseas

Cancer drug maker ended a tie-up to bring one of its drugs to North America last week, less than two months after its best-selling product was rejected by the FDA Key takeaways: Innovent Biologics terminated a plan to sell its bevacizumab biosimilar in North America with a local partner after trials for the drug fell behind schedule The company’s loss tripled last year on growing competition for its core product, whose sales fell 22% in this year’s first-quarter By Molly Wen With domestic competition heating up in the crowded China…

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Junshi Biosciences Back in the Red, Pins Hopes on Covid Drugs

The innovative drug developer reported a first-quarter loss as a result of a steep drop in licensing revenue Key Takeaways: Junshi Biosciences’ revenue tumbled 61% in the first quarter, reflecting its high dependence on income from overseas licensing The company is hoping for steadier future revenue from an oral Covid-19 drug now in Phase 3 multi-regional clinical trials (MRCTs) By Molly Wen 2021 was a bittersweet year for Shanghai Junshi Biosciences Co. Ltd. (1877.HK; 688180.SH). Its Covid-19 neutralizing antibody drug JS016 was a hit overseas and became a major new…

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I-Mab Shaken by Management Moves, Merger Talk and Delisting Threat

Cancer drug maker has been in a wide range of market-moving headlines lately, though its stock still trades near an all-time low Key Takeaways: I-Mab was placed on a list of stocks at danger of being delisted from the U.S., just a week after it announced two major new executive appointments Company is reportedly exploring a potential sale to a western pharma giant, or a possible merger with a smaller peer By Shirley Lau There’s no shortage of market-moving news these days about up-and-coming cancer drug maker I-Mab (IMAB.US), whose…

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Yuanxin Tempts Investors With One-Stop Medical Formula in Hong Kong IPO

The internet healthcare company filed its listing application to the Hong Kong Stock Exchange last week, trumpeting its comprehensive approach to medical services Key takeaways: Yuanxin Technology has filed for a Hong Kong IPO a second time, aiming to set itself apart from rivals with its wide range of medical services The company’s revenue grew 65% last year, but its losses are growing even more quickly By Li Yaoyao Once verboten for many medical companies due to listing rules that banned money-losing applicants, Hong Kong has welcomed such high-growth firms…

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Shenzhen Edge Medical Seeks Place in China’s Surgical Robot Market

The maker of cutting-edge medical devices has applied for an IPO in Hong Kong, even as it has yet to sell any products Key takeaways: Shenzhen Edge Medical has applied for a Hong Kong IPO, following China’s approval for the sale of one of its key products in January Company will face challenges from a growing number of domestic rival products already on the market By Molly Wen Born in the confluence of medicine, mechanics, biomechanics and computer science, surgical robots have become a crown jewel of sorts for the…

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InnoCare Pharma Goes Back to Funding Trough With STAR Market Listing

The Hong Kong-traded company will become the latest from the cash-challenged pharma sector to make a second listing on the A-share market Key Takeaways: InnoCare Pharma’s A-share IPO will make it the fourth innovative pharma company with shares traded in Hong Kong and on the mainland’s STAR Market   The company is flush with cash and continues to raise money at every opportunity to finance its R&D By Molly Wen China’s Nasdaq-style STAR Market has become fertile ground for fundraising by innovative yet profit-challenged pharmaceutical companies since its launch in…

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AIM Puts mRNA Covid Vaccine in Investor Crosshairs With New IPO Attempt

Vaccine maker’s previous IPO bids on Shenzhen’s ChiNext board and in Hong Kong failed, but it is soldiering ahead with a new attempt in Hong Kong Key takeaways: Vaccine maker AIM has filed for an IPO in Hong Kong, following unsuccessful previous bids in Hong Kong and on Shenzhen’s ChiNext board The company has three Covid vaccines under development, including an mRNA vaccine expected to hit the market in the fourth quarter By Fai Pui If at first you don’t succeed, try, try again. And again. And again. That’s the mantra…

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LinkDoc Formally Withdraws Its U.S. IPO. Next Stop, Hong Kong?

Medical big data company has filed with U.S. securities regulator to officially terminate its plan to raise $200 million through a New York listing Key Takeaways: LinkDoc has formally withdrawn its plan to raise $200 million from a U.S. IPO, nine months after its 11th hour halt to the listing Three other Chinese companies with pending U.S. listings could revive their plans in the second half of this year as last year’s regulatory turmoil shows signs of receding By Doug Young Medical big data firm LinkDoc Technology Ltd. has formally…

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AI Pharma Startup METiS Raises $150 Million. IPO in Sight?

Company has conducted five financing rounds since its establishment in January 2020 Key takeaways: METiS Pharmaceuticals has completed five funding rounds since its establishment in January 2020, including the latest two worth $150 million The company was incubated by AI pharmaceutical unicorn XtaiPl, whose most recent valuation exceeded $2.05 billion By Molly Wen Biomedicine is a hot emerging area, as is artificial intelligence. But what happens when these two hot properties combine? The result is a new crop of start-ups specializing in AI-assisted medical services such as AI imaging, AI…

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