A number of healthcare companies are seeking to capitalize on the recovering market conditions by filing for initial public offerings (IPOs) on the Hong Kong Stock Exchange (HKEX), a venue that has been gaining traction among life sciences companies for their public listings.
According to the HKEX website, recent IPO applications have been submitted by biopharmaceutical companies TransThera Sciences (Nanjing) Inc. and Elpiscience Biopharmaceuticals Inc., as well as the traditional Chinese medicine (TCM) healthcare group Beijing Tong Ren Tang Healthcare Investment Co., Ltd. However, specific timing or the expected funds to be raised from these IPOs have not been disclosed.
TransThera is dedicated to the development of innovative small-molecule therapies for oncology, inflammatory, and cardiometabolic diseases, primarily focusing on in-house discoveries. Their lead candidate, tinengotinib (TT-00420), is a potential first-in-class MTK inhibitor targeting FGFR/VEGFR, JAK, and Aurora kinase pathways. Tinengotinib has reached Phase III global trials for cholangiocarcinoma (CCA) and has received breakthrough therapy and fast-track designations from the U.S. FDA. The company is also developing the molecule for prostate cancer, breast cancer, and pan-FGFR solid tumors.
On the other hand, Elpiscience concentrates on next-generation immunotherapies, combining in-house discovery with in-licensing. The company’s lead candidates include the Phase II stage OX40-antibody ES102, in-licensed from U.S. biotech Inhibrx, and the Phase II stage VEGF/DLL4 bispecific antibody ES104, in-licensed from U.S.-based Compass Therapeutics. Elpiscience’s research capabilities in tumor-associated macrophages (TAMs) caught the attention of Japan’s Astellas Inc., which committed up to USD 1.7 billion for the global development of two molecules, including the novel bi-specific macrophage engager ES019, as announced in December 2023.- Flcube.com
