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CANbridge Raises $77 Million in Hong Kong IPO; Shares Trade Lower

publication date: Dec 10, 2021

CANbridge Pharma of Shanghai raised $77 million in a Hong Kong IPO to develop its rare disease candidates. The company targets prevalent rare diseases and rare oncology indications. Founded in 2012, CANbridge's 13 assets are sourced from global collaborations and internal research. Its lead product is a glycosylated CD95-Fc fusion protein being developed to treat GBM. At the IPO price, CANbridge had a market capitalization of $880 million, but the company's stock had a disappointing reception in its first trading session, falling 27% from the IPO price. More details....

Stock Symbol: (HK: 1228)

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