Two IPOs | Innovent & Orchard

On Wednesday 31 October, two portfolio companies in the Eight Roads/ F-Prime platform listed on opposite sides of the globe.

Suzhou-based Innovent Biologics raised HK$3.3bn after floating on the Hong Kong Stock Exchange, marking the largest Hong Kong biotech IPO this year. As founding investors, Eight Roads Ventures and F-Prime funded the company in 2011 to develop and manufacture high-quality second-generation biologics for China and other emerging markets. Innovent signed a strategic partnership with US pharma group Eli Lilly in 2015 for licensing, co-development and co-branding in China for Sintilimab and another core product IBI-301.

Since then, Innovent has built a pipeline of 17 antibody drug candidates, led by four core products in late-stage clinical development. Its core product cancer drug Sintilimab (IBI-308) is a fully human PD-1 monoclonal antibody (mAb). It is one of the first PD-1 mAbs to have a new drug application accepted in China with priority review status. The product is expected to launch in 2019.

London-based Orchard Therapeutics began trading on Wednesday, on the NASDAQ. Orchard Therapeutics is a fully integrated commercial-stage biopharmaceutical company dedicated to transforming the lives of patients with serious and life-threatening rare diseases through innovative gene therapies. Orchard’s advanced portfolio of autologous ex vivo gene therapies targets serious and life-threatening rare diseases, initially primary immune deficiencies, neurometabolic disorders and hemoglobinopathies.

Orchard was formed by F-Prime in December 2015 and the F-Prime team has continued to work extremely closely with the company through multiple funding rounds and rapid operational development.

A huge congratulations to both companies on reaching this milestone!

Read more here.

シェア

本ウェブサイトに記載されている情報は、ベンチャーキャピタル投資を求める起業家や企業に資する目的においてのみ提供されています。Eight Roadsは、投資助言サービスを提供することを申し出ているものではなく、また証券取引に関与することを申し出ているものでもありません。