Two young Boston-area biotechs have filed with the Hong Kong Exchange to conduct IPOs on the exchange, taking advantage of the new rules allowing pre-revenue companies to list and seeking the high valuations Hong Kong investors offer. Stealth BioTherapeutics and AOBiome Therapeutics are both developing novel drugs that are in (or close to) Phase III trials. The two US biopharmas join two China companies — Ascletis and Innovent — that have already filed for Hong Kong IPOs, while more are expected to follow soon.
Source: China Biotoday
