Three Chinese Biopharma Companies File for IPOs, Raising Over $500 Million Combined

　　【Pharmaceutical Network Industry Dynamics] Looking back at November, fundraising in the global pharmaceuticals industry remained frequent. According to incomplete statistics, in November, a total of 10 biopharmaceutical companies went public globally, raising nearly US$1 billion in total. Among them, three are Chinese pharmaceutical companies, namely LianBio, Clover Biopharmaceuticals, and Northland.
 

　　LianBio Goes Public in the U.S., Raising $325 Million
 

On October 28, 2021, LianBio successfully went public through an IPO on the NASDAQ in the United States. This global offering consisted of 20,312,500 American Depositary Shares, with each share priced at $16.00, raising $325 million. Additionally, the underwriters were granted an option to purchase an extra 3,046,875 shares.
 

Data shows that LianBio is a clinical-stage biopharmaceutical company operating in China and the United States. The company primarily advances its diversified pipeline of clinical drug candidates by collaborating with highly innovative global biopharmaceutical companies, which has the potential to establish new therapeutic standards for various indications in cardiovascular, oncology, ophthalmology, inflammatory diseases, and respiratory conditions. The company has offices in Shanghai, China, and Princeton, New Jersey, USA, focusing on the licensing, development, and commercialization of therapeutic drugs in Greater China (including mainland China, Hong Kong, Taiwan, and Macao) and other Asian markets.
 

　　Clover Biopharmaceuticals Goes Public on HKEX, Raising HKD 1.87 Billion
 

On November 5, 2021, Clover Biopharmaceuticals was listed on the Hong Kong Stock Exchange at an issue price of HK$13.38, raising a net amount of HK$1.87 billion.
 

Data shows that Clover Biopharmaceuticals is a global clinical-stage biotechnology company dedicated to developing novel vaccine and biotherapeutic candidates for infectious diseases, cancer, and autoimmune disorders, addressing life-threatening diseases and public health threats worldwide.
 

It is reported that before the IPO, Clover Biopharmaceuticals received investments from several large institutions such as Hillhouse Capital, Temasek, and Orbimed. After the completion of the global offering, Hillhouse Capital held 8.53% and 6.29% of Clover Biopharmaceuticals' shares through JNRY and AUT-XXI respectively, with a total shareholding ratio of 14.82%, ranking as the third largest shareholder.
 

　　Northland Listed on the Beijing Stock Exchange
 

On November 15, the Beijing Stock Exchange opened with a bell-ringing ceremony, and Northland, an incubated enterprise of Haidian Biotech Incubator under Haikou Financial Group, was successfully listed on the exchange.
 

Data shows that Northland is an innovative biopharmaceutical enterprise specializing in the research, production, and sales of gene therapy drugs, recombinant protein drugs, and ophthalmic medications. Adhering to the mission of "Creating value, serving health" and guided by clinical needs, the company primarily focuses on the research and industrialization of biotechnology-based new drugs in the fields of cardiovascular diseases, metabolic disorders, rare diseases, and ophthalmic conditions, providing safe, effective, and quality-controlled accessible drugs for disease treatment.
 

Notably, Northland recently announced that it plans to issue shares to specific investors through a competitive bidding process, with the number of shares not exceeding 32 million, accounting for 12.44% of the current total share capital, and the expected fundraising amount not exceeding 300 million yuan.
 

According to the private placement draft, Northland's current private placement financing will be used for drug research and development projects, bioengineering new drug industrialization projects, and replenishment of working capital, with 82.17 million yuan, 189.289 million yuan, and 28.541 million yuan of raised funds allocated respectively. Among these, the total investment for the bioengineering new drug industrialization project is 269.7366 million yuan, with 80.4476 million yuan already raised during the initial public offering.