China-based antibody developer Akeso Biopharma (HKG: 9926) announced that its board of directors has decided to make an initial public offering (IPO) to the Shanghai Stock Exchange’s Sci-Tech Innovation Board (STAR). No formal filing has been made at this stage.
Company Background and Platform
Founded in 2012, Akeso Bio boasts an end-to-end drug development platform (the ACE platform), which covers fully integrated drug discovery and development functions including target validation, antibody discovery and development, bispecific antibody (BsAb) development platform, CMC production process development, large-scale production in line with international GMP standards, and professional business operation systems. The company debuted on the Hong Kong Stock Exchange in April 2020, raising around USD 330 million.
Product Pipeline and Approvals
Akeso has a product pipeline consisting of upwards of 30 drug candidates, covering oncology, autoimmune disease, inflammatory diseases, metabolic diseases, and more. Its programmed death-1 (PD-1) inhibitor penpulimab (AK105), and cadonilimab (AK104), an innovative BsAb against PD-1 and cytotoxic T-lymphocyte-associated protein 4 (CTLA-4), were both approved for the market in China in August 2021 and June 2022 respectively.-Fineline Info & Tech
