Chinese biotech firm first to apply for Hong Kong IPO under new rules


Ascletis Pharma, which is close to commercialising a new drug for hepatitis C in China, has become the first biotechnology firm to file for an IPO in Hong Kong following recent reforms that allow biotech firms without profit or revenue to list. The Hangzhou-based company expects to launch by September 30 "Danoprevir", the first hepatitis C cure developed by a mainland Chinese firm, it said in a preliminary listing prospectus published on bourse operator Hong Kong Exchanges and Clearing's website late on Monday.



from Biotech News