China’s Laekna Therapeutics Shanghai Co., Ltd has filed for an initial public offering (IPO) with the Hong Kong Stock Exchange (HKSE), according to the exchange. The offering will be sponsored by CICC. This move marks a significant step in Laekna’s growth strategy as it seeks to raise capital to further develop its pipeline of innovative therapies.
Company Overview and Pipeline
Founded in 2016, Laekna is a global biotech company focused on developing therapies for cancer and hepatic fibrosis. The company’s product pipeline includes 15 drugs, with core products LAE002 and LAE001 currently undergoing one pivotal clinical study and five clinical studies, three of which are multi-regional clinical trials.
Financial and Investment Background
Laekna previously raised USD 168 million through five financing rounds and made an IPO filing in Hong Kong in June 2022. The company is backed by prominent investors such as OrbiMed and SDIC. Despite recording RMB 782 million (USD 113.5 million) in annual losses in 2022, Laekna remains committed to advancing its research and development efforts to bring new treatments to patients worldwide.-Fineline Info & Tech
