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China's 3SBio Eyes HK Listing Two Years After Going Private
February 19, 2015

By EJ Lane of FiercePharmaAsia

SINGAPORE--Mainland China biotech 3SBio has filed with the Hong Kong Stock Exchange (HKEx) as a key step for an initial public offering that would see it listed again two years after it left the NASDAQ and went private under a $370 million deal done by a consortium led by CEO Jing Lou and investment firm Citic Private Equity.

The Feb. 12 HKEx filing is a regulatory requirement to prepare for a listing and updates on various aspects of the business, but does not say how many shares could be issued. It did not provide a time frame for any listing.

The company did not immediately return emails seeking comment.

The HKEx notice said 3SBio has 8 potential candidates in nephrology and 6 in oncology, including three monoclonal antibody therapies, as well as autoimmune disease targets, among 20 potential products listed.

In November, 3SBio in-licensed South Korea-based PharmAbcine biotech cancer drug candidate tanibirumab in Greater China and this year announced a deal on injectables with Sirton.

An analyst report said the company wants to raise as much as $500 million.

The HKEx notice was co-sponsored by Citic Securities International, Goldman Sachs and Morgan Stanley.

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