According to dealstreetasia.com, Tot Biopharm, a Chinese clinical-stage biopharma firm specialized in innovative oncology drugs and therapies, has raised about $75.2 million in an initial public offering (IPO) on the main board of the Hong Kong stock exchange on Friday.
The biopharma company offered 90 million shares at a price of HK$6.55 apiece, the lower end of the proposed price range between HK$7.55 and HK$6.55.
Taipei Exchange-listed oral pharmaceutical business Center Ventures, Vivo Capital, which invests in the healthcare industry in China and the United States, and Nien Hsing BVI, a wholly-owned subsidiary of Taiwan-based Nien Hsing Textile, served as cornerstone investors subscribing to $20 million worth shares in the IPO.
Tot Biopharm’s portfolio includes monoclonal antibodies, antibody-drug conjugates, oncolytic virus products and oncology drugs such as liposome drugs, targeting various types of cancers. Its pipeline consists of seven biological and five chemical drug candidates, 11 of which are in-house developed.
At present, four biological drug candidates of Tot Biopharm are in the clinical stage. TAB008, the core product of Tot Biopharm, is an anti-VEGF mAb and biosimilar drug candidate to bevacizumab, a medication used for the treatment of a number of cancers. TAB008 is undergoing Phase III clinical trials in China and is expected to be launched between the end of 2020 and early 2021, subject to regulatory approval.
The company plans to use the net proceeds from the IPO to conduct clinical trials on drug candidates, and to expand sales and marketing staff in preparation for their approval and commercialization.
About Center Ventures
Founded as a pharmaceutical company, Center Ventures is one of the most professional biotechnology incubator platforms in the Asia Pacific. The company works with companies in the biotechnology industry chain, including small molecule drug R&D, protein and antibody development, pharmaceutical CDMO, pharmaceutical manufacturing and sales, medical devices, nutritional health, and agribiotechnology, emerging medicine (stem cell and immune cell therapy), and industry investment fund and venture capital.
Founded in 1996, Vivo Capital is a healthcare investment firm focused on investing in and building high-quality companies. Vivo employs a unique multi-pronged strategy of identifying and working with companies with promising development and commercial-stage products. Since inception, the firm has raised over $4 billion and backed over 200 private and public portfolio companies.
渝公网安备 50011202502165号
