Sihuan Pharmaceutical Holdings Group Ltd (HKG: 0460), a Chinese pharmaceutical company, has announced the cancellation of an initial public offering (IPO) on Shanghai’s Sci-Tech Innovation Board (STAR) for its subsidiary, Xuanzhu Biopharmaceutical Co., Ltd (Xuanzhu Biopharm).
Xuanzhu Biopharm, which concentrates on therapeutic areas such as oncology, metabolism, anti-infection, and digestion, boasts a diverse platform including small molecules, monoclonal antibodies, bispecific antibodies, fusion proteins, antibody drug conjugates (ADCs), and protein degradation technologies. The company, initially slated for a spin-off IPO in May 2022, will now suspend this move. The decision is attributed to “Xuanzhu’s own business development and strategic planning considerations, and the current market environment in the capital market, among other factors.”- Flcube.com
