12:00 AM
Oct 26, 2015
 |  BioCentury  |  Finance

Joining the in(novation) crowd

Why Chinese biotechs BeiGene, Chi-Med are looking to NASDAQ

At least one buysider thinks the first two innovator Chinese biotechs to attempt a NASDAQ listing will be well-received by U.S. investors thanks to a combination of validating pharma deals and a stable of products against novel or hot cancer targets.

On Oct. 16, both BeiGene Ltd. and Hutchison China MediTech Ltd. (LSE:HCM) filed to raise up to $100 million on NASDAQ.

BeiGene already has shareholders in the states. In May, a host of U.S.-based crossover investors participated in a RMB600 million ($96.6 million) round. New entrants included Fidelity, T. Rowe Price, Rock Springs Capital, and Boxer Capital of Tavistock Life Sciences.

BeiGene's largest shareholder is Baker Brothers, which owns a 25.8% stake.

The company has four compounds in Phase I testing that address hot targets including...

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