biospectrumasiaMarch 12, 2018
Tag: IPO , diabetes drug , Hua Medicine
Hua Medicine, the Shanghai based diabetes drug developer, has chosen Hong Kong, S.A.R., China Special Administrative Region of China instead of U.S. for its initial public offering (IPO) for the Asian financial hub makes a push for biotech listings.
The company is working with advisers Goldman Sachs Group Inc., CLSA Ltd. and UBS Group AG on a planned offering in the city this year. The offering could raise as much as $300 million.
Hua Medicine, led by Chen Li, the former chief scientist for China at Roche Holding AG, is running late-stage clinical trials for its oral drug used for the treatment of type 2 diabetes.
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