China-based InnoCare Pharma (HKG: 9969) has filed for an initial public offering (IPO) on the Shanghai Stock Exchange’s Sci-Tech Innovation Board (STAR), with CICC as the sponsor. The company, which debuted in Hong Kong in March 2020, aims to raise RMB 4 billion (USD 578 million) to fund drug research and development (R&D), platform upgrades, marketing networks, information infrastructure, and working capital.
Company Profile
InnoCare focuses on oncology and autoimmune diseases, with a pipeline that includes commercialized drugs orelabrutinib and tafasitamab. The company has 11 products in clinical development and 5 in pre-clinical stages.
Strategic Outlook
Proceeds from the IPO will support InnoCare’s R&D efforts and expansion plans, building on its existing product portfolio and pipeline. The Shanghai listing follows its Hong Kong debut, reflecting the firm’s growth strategy.-Fineline Info & Tech
