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Shanghai tech board unlikely to challenge Hong Kong’s status as preferred IPO hub for Chinese biotech firms

Volatile stock markets as a result of the unresolved US-China trade war will affect the valuations of Chinese biotech IPOs, but Hong Kong’s status as an IPO hub will remain undiminished and compete strongly with the upcoming tech board in Shanghai, say investment bankers.“The funds available here and in China are incredibly deep, I anticipate that this market should hold as it goes through the ups and downs,” said Philip Ross, JPMorgan’s vice-chairman of investment banking with a focus on… Source link

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Biotech start-up backed by Li Ka-shing and Bill Gates to launch its immunity-boosting gut bacteria in Hong Kong, Singapore

A Californian probiotics developer backed by tycoons Li Ka-shing and Bill Gates will launch a dietary product it claims can strengthen infants’ immune system in Hong Kong and Singapore on Tuesday.Evolve BioSystems said the product works by reintroducing a beneficial gut bacteria that is missing in today’s babies.Evivo, an activated form of the intestinal bacteria Bifidobacterium infantis, has been mixed with breast milk and fed to “tens of thousands” of babies in the United States since it was… Source link

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Fosun biotech unit Henlius has no plans for Shanghai tech board listing and is focused on Hong Kong IPO

Shanghai Henlius Biotech, a spin-off of Hong Kong and mainland China-listed Fosun Pharmaceutical, said it had no immediate plans of listing on Shanghai’s upcoming Technology Innovation Board, as it focuses on an initial public offering in Hong Kong.The Shanghai-based biotechnology company applied to the Hong Kong stock exchange for a listing in December 2018, and is bucking the trend when it comes to a flotation on mainland China’s new Nasdaq-style market.As of Friday, 93 companies had… Source link

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A year after Hong Kong’s stock listing overhaul, city’s aim to be Asia’s biotech hub is still a work in progress

The radical overhaul of the rules for listing on Hong Kong’s stock exchange last April had the goal of making the city a hub for technology and biotech firms looking to raise capital.A year on, it is debatable whether the reforms – the biggest in a quarter of a century – have met expectations.Just nine companies have taken advantage of the new regime, which for the first time has allowed technology firms with weighted voting rights – commonly known as dual-class shares – and pre-revenue biotech… Source link

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Bill Gates is backing this Hong Kong biotech start-up that can screen for cancer through a drop of urine or blood. Here’s why

A Hong Kong biotechnology start-up claims to have come up with a new procedure that could dramatically improve the efficiency and lower the cost of cancer screening.Phase Scientific International’s has developed a new way of preparing samples for liquid biopsy, a diagnostic screening tool to detect cancer cells or their DNA fragments in fluids such as blood and urine.In the short to medium term, the nascent technique of liquid biopsy could allow doctors to more accurately monitor a tumour’s… Source link

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Guangzhou offers lots of carrots to win over international biotech players in race to catch up with Beijing and Shanghai

The southern Chinese city of Guangzhou thinks it has found the formula to catch up with Beijing and the eastern cities of Shanghai and Suzhou in the development of novel drugs: incentives to win over big international players. Government incentives have attracted investment from such companies as GE Healthcare, a subsidiary of American conglomerate General Electric that focuses on medical imaging and diagnostics equipment and bio-pharmaceutical manufacturing technologies. GE is building its first Asia biotech campus – covering 350,000 square metres and requiring 800 million yuan of investment – in…

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Chinese AI, biotech talent in line for biggest increase in bonuses, according to survey

Workers in China’s hi-tech industries will see the biggest increase in bonuses across sectors for 2018, defying a slowdown in economic growth, according to a survey released by state-owned human resources consultancy China International Intellectech on Wednesday. The average bonus for employees of companies in industries such as artificial intelligence, biotechnology and new energy will rise by 12 per cent from 2017 to 29,836 yuan (US$4,353), according to the survey. 2019 China tech look ahead: trade war likely to cast a shadow as AI, e-commerce, smartphone progress continues The survey…

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Why this Hong Kong tycoon’s family backed biotech firm ditches the city for Nasdaq listing

Stealth BioTherapeutics, a US-based mitochondrial diseases drug developer backed by Hong Kong property developer Hang Lung Group’s Chan family, has ditched its listing plan in the city for a flotation in the disclosure-based Nasdaq market that has fewer time-consuming approval hurdles. The move comes after a sharp correction of pharmaceutical and biotechnology stocks in Hong Kong triggered by price cuts of major drugs in China brought about by reforms. The soured investor sentiment for such stocks is a blow to Hong Kong Exchanges and Clearing chief executive Charles Li Xiaojia’s…

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Leading Chinese biotech firm Wuxi AppTec says US hurdles will not dim acquisition appetite

Tighter US government scrutiny of Chinese investment in US biotechnology companies will not dent its interest in pursuing investment opportunities there, said executives of Wuxi AppTec, Asia’s largest provider of contract pharmaceutical research. “It is not a problem, we will just make the necessary filings according to the legal requirements,” board secretary Yao Chi said at a press conference on Friday to announced the company’s Hong Kong listing plan. The Shanghai-based firm aims to raise up to US$1 billion from the IPO. The company said about 30 per cent of…

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Changsheng Bio-tech, the vaccine maker behind China’s latest public health scare

Propelled by government subsidies, aggressive marketing and – according to court documents – even bribery, drug maker Changchun Changsheng Bio-technology has seen years of robust growth and big profits. But after it was exposed supplying ineffective DPT (diphtheria, whooping cough and tetanus) vaccines to be used on babies as young as three months old, and forging data for its rabies vaccines, the company now faces the wrath of China’s leadership and millions of parents. Premier Li Keqiang on Monday called for an immediate investigation into the substandard vaccines, saying the…

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