One year ago, the Hong Kong Exchange started its pre-revenue track for China biopharma IPOs. In its first twelve months of activity, the exchange hosted IPOs for ten biopharmas, including seven pre-revenue firms, and raised over US$4.2 billion. That made the HKEX the world's second largest exchange for biopharma IPOs. Charles Li, Chief Executive of the Exchange, told the more than 1,000 attendees at the Second HKEX Biotech Summit, held last week, that ten more biopharmas have already filed for future IPOs with a "very strong" pipeline following them. However, as Mr. Li noted in his Keynote Address, the future for Hong Kong and biotech has more than its usual share of uncertainty. More details....
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