BRIEF— Alphamab readying for big IPO, says report

Alphamab Oncology, a China-based company developing eight bispecifics for cancer, plans to stage an IPO before the end of the year, according to a ChinaBio Today report.

The article states that the Suzhou Alphamab spin-out could raise up to $350 million in the Hong Kong Exchange offering, to support clinical development of its portfolio, including KNO46, which could be a first-in-class bispecific antibody against CTLA-4 and PD-1.

Alphamab will reportedly sell about 25% of its shares in the offering, giving it a valuation of more than $1 billion. The company raised $100 million in a Series A in 2018 and a further $60 million earlier this year.