Photo/Shetuwang

Dec. 27 (NBD) -- InnoCare Pharma Limited ("InnoCare"), with its head office located in Beijing, is expected to launch its initial public offering in Hong Kong around China's traditional Spring Festival with Morgan Stanley Asia Limited and Goldman Sachs (Asia) L.L.C. as joint sponsors, according to iponews, a WeChat account focusing on IPO-related news. 

National Business Daily noticed that the clinical stage biopharmaceutical company submitted the listing application to the stock exchange of Hong Kong on October 17. 

Founded in 2015 by biophysicist Shi Yigong, the first Chinese scientist to win the Gregori Aminoff Prize in Crystallography presented by the Royal Swedish Academy of Sciences, InnoCare is committed to discovering, developing and commercializing best-in-class drugs for the treatment of cancer and autoimmune diseases.

Since 2016, the company has cumulatively raised more than 270 million U.S. dollars. It was valued at approximately 880 million U.S. dollars after the latest round of financing. 

Noticeably, in late November, the company announced that the National Medical Products Administration of China has accepted the new drug application of its independently developed Orelabrutinib (ICP-022) for the treatment of patients with relapsed or refractory (r/r) chronic lymphoblastic leukemia (CLL)/small lymphoblastic lymphoma (SLL). The drug is currently being evaluated in a wide range of clinical programs in China and the U.S. for the treatment of a variety of B-cell malignancies and autoimmune diseases.

Email: gaohan@nbd.com.cn