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Innovent Bio Completes $300 Million Secondary Offering in Hong Kong

publication date: Oct 4, 2019

Suzhou Innovent Biologics raised $300 million in a secondary offering in Hong Kong. The company plans to use the proceeds for newer drug products including three in-licensed products from Incyte and two first-in-class bispecific products developed in collaboration with Eli Lilly, currently in Phase I clinical trials. The shares were priced at a discount of 6.8% to the previous closing price of Innovent's Hong Kong listing. One year ago, Innovent staged a $400 million IPO in Hong Kong, and its shares have climbed 83% since then. More details....

Stock Symbols: (HK: 01801) (NYSE: LLY)

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