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China’s Fosun Pharma Eyes Henlius IPO in Hong Kong

Published 03/10/2018, 03:52 pm
Updated 03/10/2018, 03:57 pm
© Reuters.  Shanghai Fosun Pharmaceutical plans to issue an IPO in Hong Kong
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Investing.com - Shanghai Fosun Pharmaceutical Group Co Ltd (HK:2196) plans to issue an IPO in Hong Kong for its monoclonal antibody joint venture subsidiary Shanghai Henlius Biotech, the company said in a filing on September 27.

The company will also withdraw its application for a listing on China’s Third Board, the National Equities Exchange and Quotations System. Henlius Biotech completed in July its last pre-IPO round of financing and raised $157 million, driving its valuation up to nearly $3 billion, according to the filing, which added that the company has received board approval for the issue.

Founded jointly by Fosun Pharma and U.S.-based Henlius Biopharmaceuticals in 2010, Henlius Biotech develops mAb biosimilar drugs, bio-betters and others. Helius’ R&D expenditure this stood at $170 million, up 89.82% year-on-year and nearly 90% of that were invested into its mAb biosimilar drug.

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