Three Chinese Biotechs Ride Market Recovery To Raise Funds
InventisBio and Akeso seek to gross a combined $384.3m in an initial public share sale in Shanghai and a private placement in Hong Kong respectively, while Chipscreen completed raising $74.4m by selling convertible bonds in Shanghai.
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A clutch of Chinese biopharma firms, including I-Mab, Lepu and Clover, are having second thoughts on some of their clinical development programs to conserve cash amid a funding squeeze.
Junshi and Chipscreen expect to raise a combined $711.9m in a private stock placement and issuance of convertible bonds to fund facilities construction and R&D.
Brian Yang, Dexter Yan and guest speaker Kevin Grogan from the UK discuss Shanghai's latest policy to spur biopharma investment, the US House's recent draft bill to restrict bio service providers from China, and multinationals' strategies in China and views on Chinese innovation.