HitGen joins growing Shanghai IPO queue

The Shanghai Stock Exchange accepted an application from HitGen this week to list on its new science and technology innovation board. The small molecule discovery company proposed to sell at least 40 million shares and raise up to RMB660 million ($95.9 million).

HitGen’s management team includes Chairman and CEO Jin Li, a veteran of AstraZeneca plc (LSE:AZN; NYSE:AZN) and CSO Barry Morgan, who is director of discovery at Baylor College of Medicine’s Center for Drug Discovery and previously served as VP of molecular discovery at GlaxoSmithKline plc (LSE:GSK; NYSE:GSK). Entities associated with Li hold about 33% of the company’s equity...