MicroPort NeuroTech Limited has successfully completed its initial public offering (IPO) on the Hong Kong Stock Exchange, issuing 13.7 million shares at HKD 24.64 (USD 3.40) per share, raising a total of HKD 340 million (USD 43.3 million). This milestone underscores the company’s significant valuation of USD 1.75 billion upon deal closure and highlights its robust investor backing and market presence.
Company Background and Portfolio
Founded in 2012 as a subsidiary of MicroPort Scientific Corporation, MicroPort NeuroTech is dedicated to developing and commercializing therapies for cerebral apoplexy. The company boasts a diverse portfolio of over 30 products, with 10 already approved for market. These products address critical neurological conditions, including hemorrhagic stroke, cerebral atherosclerotic stenosis, and acute ischemic stroke.
Financial and R&D Commitment
In 2021, MicroPort NeuroTech reported revenues of RMB 383 million (USD 57.1 million) and allocated RMB 94.13 million (USD 14 million) to research and development, reflecting its strong commitment to innovation in the neurotech sector.
Strategic Investments and Acquisitions
The company became the majority shareholder in Israel-based Rapid Medical in May 2021. Additionally, a USD 150 million financing deal was secured in November 2021, involving prominent investors such as CICC Capital, HHF Capital, GCS Capital, Biolink Capital, Runkun Tianlu Equity Investment, and Tongxin Investment. This funding has bolstered MicroPort NeuroTech’s growth and expansion strategies.-Fineline Info & Tech
