Cancer biotech Adlai Nortye Ltd. raised $57.5 million from its U.S. IPO on Nasdaq and $40 million from a concurrent private placement, ringing up $97.5 million in funding to develop its combo immunotherapy pipeline.
Cancer biotech Adlai Nortye Ltd. raised $57.5 million from its U.S. IPO on Nasdaq and $40 million from a concurrent private placement, ringing up $97.5 million in funding to develop its combo immunotherapy pipeline.
Wuhan YZY Biopharma Co. Ltd. made its debut on the Hong Kong Stock Exchange, raising HK$121 million (US$15.48 million) in its IPO on Sept. 22, with shares (HKEX:02496) opening at the lower end of its range at HK$16 per share and ending the day at HK$16.60, a rise of 3.75%.
Abpro Corp. is making another attempt to go public, this time by merging with Atlantic Coastal Acquisition Corp. II. The merger would put Abpro’s company value at $725 million. Atlantic Coastal is a special purpose acquisition company (SPAC) that went public in January 2022. Its stock (NASDAQ:ACAB) closed Sept. 22 at $10.63 per share.
Wuhan YZY Biopharma Co. Ltd. made its debut on the Hong Kong Stock Exchange, raising HK$121 million (US$15.48 million) in its IPO on Sept. 22, with shares (HKEX:02496) opening at the lower end of its range at HK$16 per share and ending the day at HK$16.60, a rise of 3.75%.
In the daunting shadow of previous years’ numbers, two companies jumped into this year’s relatively tepid IPO market. Rayzebio Inc. priced its upsized $311 million IPO of 17.2 million shares at $18 each. Gross proceeds of about $290.1 million are expected by the radiopharmaceutical cancer therapy developer. On Sept. 15, shares (NASDAQ:RYZB) closed up 33.3% at $24 each. Also, Neumora Therapeutics Inc. priced its IPO of 14.7 million shares at $17 each, looking for gross proceeds of about $250 million. The company, which is developing seven products targeting brain diseases, saw shares (NASDAQ:NMRA) close 4.4% downward at $16.25 on Sept. 15.
After raising HKD$320 million (US$40.8 million) in its IPO on the Hong Kong Stock Exchange last week, Immuneonco Biopharmaceuticals Co. Ltd.’s stock has continued to rise, and analysts are expecting the Hong Kong market to pick up after a slack start to the year.
South Korean CAR T developer Curocell Inc. said on Sept. 8 that it passed a preliminary screening to list on Kosdaq – news that comes four months after its application was made to the Korea exchange on May 2, 2023, and a year after its first failed application in January 2022.
Curvebeam AI Ltd. made its debut on the Australian Securities Exchange (ASX:CVB) after raising AU$25 million (US$16.175 million) in an initial public offering that will allow the company to market its flagship Hirise weight-bearing CT scan solution globally.
Brainaurora Medical Technology Ltd. has filed for an initial public offering (IPO) in Hong Kong to develop its digital therapeutics for the treatment of cognitive impairment diseases. The company claims to be the first in China to launch a digital therapeutics (DTx) product for cognitive impairment, as well as the largest company in China in terms of revenue from the commercialization of cognitive impairment DTx products in 2022.
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