Feb. 24 Financial Quick Takes: Bio-Thera shines in first days on STAR; plus ImmuneOnco, GenCells, Twist and Axovant
Fast start for Bio-Thera on Shanghai’s STAR board
Bio-Thera Solutions Ltd. (Shanghai:688177) jumped RMB27.44 (84%) to RMB60.20 in its first day of trading Friday before edging up to RMB60.90 Monday on Shanghai’s STAR board. The moves added RMB11.7 billion ($1.7 billion) in market cap. The cancer and autoimmune-focused company raised RMB2 billion in an IPO earlier this month that valued it at RMB13.6 billion (see “Coronavirus Could Stall China IPOs”).
Shanghai’s ImmuneOnco raises $6M in pre-B round
ImmuneOnco Biopharmaceuticals Co. Ltd. raised RMB45 million ($6.4 million) in a pre-B round of financing backed by Minglang Industrial Development Equity Investment Fund Partnership and Shijiazhuang High-tech Zone Puen Guoxin Equity Investment Center. The Shanghai-based company plans to use the funding for clinical testing of its Phase I lead biologics: IMM01, an Fc fusion protein which binds CD47 for leukemia and IMM0306, an Fc fusion which binds both CD47 and CD20 for non-Hodgkin lymphoma...