Bio-Thera IPO Raises $241m
Four-Fifths Of New Funds Earmarked For Development
Bio-Thera, which has just started selling China’s first adalimumab biosimilar rival to AbbVie’s top-selling arthritis treatment Humira, has raised $241m in an IPO on the Shanghai Stock Exchange.
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China’s Bio-Thera Solutions has reported positive Phase III results for its proposed bevacizumab biosimilar rival to Avastin.
Bio-Thera Solutions has launched its first product in China, with its Qletli adalimumab biosimilar representing the first Humira rival to be approved under the country’s biosimilars pathway and just the second biosimilar approved overall.
Shares of China’s Shanghai Henlius Biotech will debut on the Hong Kong stock exchange later this week after the company collected $410m in an IPO that was priced at the bottom end of the targeted range.