RemeGen’s value surpasses $4B after pricing 2020’s largest biotech IPO

After raising nearly HK$4 billion ($514.3 million) in the year’s largest biotech IPO thus far, Yantai-based RemeGen gained 34% in its first trading day, finishing Monday’s session with a valuation of $4.3 billion.

The deal tops the $487.3 million offering by Legend Biotech Corp. (NASDAQ:LGND) in June, which had been the year’s largest biotech IPO. At $604.3 million, the 2018 NASDAQ offering by Moderna Inc. (NASDAQ:MRNA) is the biggest IPO to date by a biotech, according to BioCentury’s BCIQ database...