Akeso raises $250 million to fuel global development

In Hong Kong, Akeso Biopharma (HKEX: 9926) has successfully raised $250 million through a share placement, marking its second major fundraising effort of 2024.

The offering garnered strong interest from institutional investors, particularly long-term funds and healthcare specialists. The company now has over a billion dollars in cash reserves, which will support the expansion of its innovative drug pipeline globally.

This latest capital infusion will largely go toward advancing the clinical development of Akeso’s internally developed drugs, with most of the money to be used to fast-track multi-center international trials, with a particular focus on its cancer therapies such as ivonescimab and cadonilimab.