BRIEF—Simcere plans $500 million IPO
11 June 2020
Simcere Pharmaceutical has applied for an initial public offering (IPO) in Hong Kong to raise $500 million, part of which will go to R&D for cancer and CNS treatments, according to the prospectus.
The Nanjing, China-based company used to be listed in the NYSE, but was taken private in 2013.
The company expects three drugs/candidates will be launched in China in the next two years.
These are:
- edaravone Injection for stroke, which is expected to get a New Drug Application (NDA) approval in later 2020;
- KN035 (envafolimab), an anti-PD L1 monoclonal antibody (MAb) for solid tumor that is under Phase III studies; and
- the rheumatoid arthritis treatment Orencia (abatacept), which received NDA approval in January and is scheduled to be launched in the third quarter of 2020. Orencia was developed by Bristol-Myers Squibb and was licensed for commercialization in China to Simcere is 2013.
Today's issue
Company Spotlight
A US biotech company dedicated to creating oral drugs with an emphasis on indications in virology and immunology.
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze