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Kelun-Biotech Could Raise $208 Million in Hong Kong IPO for ADC Portfolio

publication date: Jun 30, 2023

Sichuan Kelun-Biotech could reap up to $208.5 million in its upcoming Hong Kong IPO, if it prices at the top of the range, which drops to $175.5 million if its prices in the middle. Founded in 2016, Kelun is a prominent developer of ADC drugs that is best known for signing three deals in 2022 to out-license 10 ADC candidates to Merck for deals that brought in $257 million upfront – more than the IPO – and could be worth up to $12.7 billion if everything goes perfectly. Kelun considers itself a leader in ADC candidates, though it also develops other biologics and small molecules drugs. More details....

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