China-based Suzhou Teligene Ltd has announced plans for an initial public offering (IPO) of 63.52 million shares on Shanghai’s Sci-Tech Innovation Board (STAR), sponsored by CICC. The proceeds will be allocated towards new drug research and development (R&D) and supplementary working capital.
Company Focus and Pipeline
Teligene, a biopharmaceutical company specializing in the development of small-molecule cancer drugs, has demonstrated the capability to develop innovative small-molecule targeted therapies that can effectively penetrate the blood-brain barrier. The company currently has eight drug candidates in the clinical stage. Among these, two have received approval for pivotal clinical studies targeting four indications from both the Center for Drug Evaluation (CDE) and the US Food and Drug Administration (FDA). Each indication is eligible for conditional approval filing supported by Phase II single-arm pivotal clinical trials. Five candidates are in Phase I, and two are in the pre-clinical stage. Teligene has also established GMP-compliant small molecule preparation facilities to support its development efforts.
Financial Overview
Despite being a pre-revenue company, Teligene generated RMB 33.93 million (USD 5 million) and RMB 63.9 million (USD 9.5 million) in net cash flow in 2020 and 2021, respectively. This financial performance underscores the company’s potential and investor confidence in its pipeline of innovative cancer therapies.-Fineline Info & Tech
