China-based Shanghai Junshi Biosciences Co., Ltd (HKG: 1877, SHA: 688180) is preparing to issue 68,292,200 Global Depositary Receipts (GDRs) on the SIX Swiss Exchange. This secondary listing is anticipated to raise a substantial RMB 3.4 billion (USD 480 million), which will be allocated to support research and development (R&D) projects, the construction of industrialization facilities, and to replenish working capital.
Allocation of Proceeds to Boost R&D and Expansion
A significant portion of the proceeds, RMB 2 billion, will be directed towards the development of novel drugs, underlining Junshi Bio’s commitment to advancing its pharmaceutical pipeline. An additional RMB 400 million will be invested in two raw liquid production lines and the expansion of supporting public facilities and equipment.
Commercialized Drugs and Pipeline Updates
Junshi Bio boasts an impressive portfolio with three commercialized drugs, including the novel programmed death-1 (PD-1) inhibitor Tuoyi (toripalimab), a biosimilar version of AbbVie’s auto-immune disease drug Humira (adalimumab), and COVID-19 therapy Mindewei (deuremidevir). Meanwhile, JS002 awaits regulatory decisions in China, a bevacizumab biosimilar is in the Phase III regulatory stage, and the PARP inhibitor senaparib is being prepared for a market filing following the conclusion of an interim analysis of a Phase III regulatory study.-Fineline Info & Tech
