RemeGen (HKG: 9995), a biopharmaceutical company based in China, has revised its private placement plan, reducing the funds raised from the initially disclosed RMB 2.55 billion in June to RMB 1.953 billion. The capital will be directed towards the research and development of new drugs, bolstering the company’s pipeline which already includes over 20 biologics under various stages of development.
Among RemeGen’s key products are telitacicept, a novel recombinant fusion protein that targets both B lymphocyte stimulator (BLyS) and a proliferation-inducing ligand (APRIL), and disitamab vedotin (RC48), an antibody-drug conjugate (ADC) candidate. Both have achieved commercialization, with telitacicept being the world’s first dual-target fusion protein for the treatment of autoimmune diseases, including systemic lupus erythematosus (SLE), and disitamab vedotin being the first domestically developed ADC in China for the treatment of solid tumors. Despite these advancements, RemeGen has yet to report a profit, with revenues of RMB 1.053 billion and a net loss of RMB 1.511 billion recorded in 2023.- Flcube.com
