Sunho Biologics, Inc., (HKG: 2898) a clinical-stage biopharmaceutical company based in China specializing in biologic preparations for the treatment of cancer and autoimmune diseases, has successfully completed its initial public offering (IPO) on the Hong Kong Stock Exchange. The company issued 34,151,800 shares priced at HKD 13.5 per share, resulting in gross proceeds of HKD 461 million (USD 59 million).
Sunho Bio’s pipeline comprises three in-house developed products. IAH0968, an antibody-dependent cell-mediated cytotoxicity (ADCC) enhanced monoclonal antibody (mAb), has advanced into Phase II clinical studies for biliary tract cancer (BTC) and colorectal cancer (CRC). Additionally, IAP0971 and IAE0972, which are antibody-cytokine fusion proteins, have completed Phase I clinical trials targeting advanced solid tumors, including non-small cell lung cancer and CRC. The company is also progressing six other products through its pipeline, with three currently in clinical stages.
In 2023, Sunho Bio reported RMB 43 million in R&D expenses and a net loss of RMB 132.7 million. Despite the losses, the company’s financial position includes RMB 125 million in cash and cash equivalents.- Flcube.com
