Sept. 4 Financial Quick Takes: BrightGene looks to STAR; plus IPO updates from Immunotech, 10x Genomics, SpringWorks, IGM, Satsuma and more
BrightGene advances toward STAR market
The Shanghai Stock Exchange approved an application from BrightGene Bio-Medical Technology Co. Ltd. (Suzhou, China) to raise RMB360 million ($50.3 million) in a listing on its STAR market. If the China Securities Regulatory Commission decides to register the application, BrightGene could become the second biopharma to list on the market. The company is developing drugs for cancer and viral infections and manufactures APIs. Last month, the first biopharma on the market, Shenzhen Chipscreen Biosciences Ltd. (Shanghai:688321), gained 367% in its first day of trading (see "Chipscreen Sets High Standard in Shanghai Debut").
Immunotech lines up for Hong Kong IPO
Immunotech Biopharm Ltd. (Beijing, China) proposed to list on the Hong Kong stock exchange in an IPO underwritten by CCB International and Guosen Securities. The T cell immunotherapy company's lead autologous T cell therapy, EAL, is in Phase II testing for liver cancer in China. Immunotech is hoping for a 2021 launch...