ImmuneOnco Biopharmaceuticals (Shanghai) Co., Ltd (HKG: 1541) is poised to raise HKD 319 million (USD 40.7 million) through an initial public offering (IPO) on the Hong Kong Stock Exchange. The biotech company will offer 17,147,200 shares at a price point of HKD 18.6 per share, with ImmuneOnco set to list under the ticker symbol HKG: 1541.
Focus on Next-Generation Cancer Immunotherapies
ImmuneOnco is a biopharmaceutical company dedicated to the development of next-generation cancer immunotherapies. The company boasts a robust product pipeline of 14 candidates, with 8 of them already at clinical stages. The lead candidate, IMM01, is a CD47-targeted SIRPα-Fc fusion protein under development for the treatment of both blood cancers and solid tumors, either as a monotherapy or in combination with other drugs. The company’s bispecific candidates include IMM0306 (CD47×CD20), IMM2902 (CD47×HER2), and IMM2520 (CD47×PD-L1).
Financial Overview and Main Income Sources
Licensing and cell line sales are the primary income sources for ImmuneOnco Bio. These activities generated RMB 730 million in revenue during the first four months of 2023, despite a net loss of RMB 112 million for the same period. The proceeds from the IPO are expected to bolster the company’s financial position and support the continued development of its innovative immunotherapies.-Fineline Info & Tech
