Mabpharm, a Taizhou company developing novel drugs and biosimilars for cancers and autoimmune diseases, set the range of its upcoming Hong Kong IPO at between HK$1.50 and HK$1.95 per share. At the midpoint of the range, Mabpharm will raise US$172.2 million at a US$906.4 million valuation. Mabpharm was the 11th pre-revenue biotech to file for a Hong Kong IPO. It is in line to be the ninth to complete the transaction. Mabpharm is developing a portfolio of nine biosimilars, which it hopes will prove to be biobetters.
Source: China Biotoday
