Yingen Biotech plans to be officially listed on the Hong Kong Stock Exchange on April 15, and has received support from a lineup of luxurious cornerstone investors including BioNTech.

Yingen Biotech was founded in 2019 and focuses on the research and development of antibody-drug conjugates (ADCs) to treat cancer and autoimmune diseases. The company has two core products: DB-1303/BNT323 is an ADC candidate targeting HER2 for the treatment of endometrial cancer and breast cancer. DB-1311/BNT324 is an ADC candidate targeting B7-H3 for the treatment of small cell lung cancer, castration-resistant prostate cancer, esophageal squamous cell carcinoma, and head and neck squamous cell carcinoma.

In addition to its core products, Yingen Bio also has five other ADC drugs in clinical stage, namely DB-1310, DB-1305/BNT325, DB-1312/BGC9074, DB-1419 and DB-2304, with a wide range of indications; two bispecific ADCs (BsADCs): DB-1418/AVZO-1418 and DB-1421, which are expected to enter the clinical stage from 2025 to 2026; and a number of preclinical ADC drugs.

The company will offer 15.0716 million shares globally, including 1.5072 million shares in Hong Kong and 13.5644 million shares internationally, with an additional 15% over-allotment option. The offering period is from April 7 to April 10, 2025. The offering price is HK$94.60-103.20 per share. Assuming the offering price is HK$98.90 per share, the net proceeds are expected to be approximately HK$1.3703 billion.

Cornerstone investors have committed to subscribe for a total of US$65 million (approximately HK$505.4 million) in shares. Major cornerstone investors include: BioNTech, LAV Star Opportunities Limited, Lake Bleu Prime Healthcare Master Fund Limited, Lake Bleu Innovation Healthcare Master Fund Limited, TruMed, Fullgoal Asset Management (Hong Kong) Co., Ltd., Fullgoal Fund Management Co., Ltd., E Fund Management Co., Ltd., E Fund Management Hong Kong Co., Ltd., China Universal Asset Management Co., Ltd., Panjing Gangjing Investment Fund, MY Asian Opportunities Master Fund, L.P., Emerging Markets Healthcare Partners LLC, Worldwide Healthcare Partners LLC, and Suzhou Suchuang Biomedicine and Health Venture Capital Fund Partnership (Limited Partnership).

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