2024-03-13| Asia-PacificChinaIPO

Chinese Biotechs Seeks IPO Growth on US Shores

by Oscar Wu
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A shift is underway in the Chinese healthcare and biotechnology sector.  In early 2024, more Chinese companies pursued IPOs on US exchanges than in Hong Kong, signaling a growing focus on the US market. This trend underscores the desire for greater international visibility and access to a broader pool of investors.

Corporate Shake Ups and Strategic Shifts

Several Chinese biotech firms experienced significant developments in recent weeks:

YS Biopharma

A tumultuous period ensued, marked by shareholder rejection of board changes, injunctions against former leadership, new board appointments, and an impending EGM called by a major shareholder to address governance concerns.


The company announced a decision to wind down operations following a strategic review. This involves selling assets, delisting from Nasdaq, and workforce reductions.


In a bold move, I-Mab is divesting its China assets to become a fully US-based company, streamlining its operations and focus.

FDA Approval and New Partnerships

The industry also witnessed notable achievements and collaborations:

Iovance Biotherapeutics:

A landmark moment as the FDA approved AMTAGVI, a novel cell therapy offering new hope for patients battling solid tumor cancers.

Ono Pharmaceutical / Shattuck Labs:

A collaboration worth up to $227 million was formed, focusing on drug discovery for autoimmune and inflammatory diseases.

Brii Biosciences / VBI Vaccines:

Brii Bio consolidated its position by acquiring intellectual property rights and gaining access to a promising glioblastoma treatment and manufacturing facilities.

Astellas Pharma / Xyphos Biosciences:

The companies joined forces to develop cutting-edge immuno-oncology therapeutics using their combined technological expertise.

BridgeBio / Kyowa Kirin:

This licensing agreement centers on commercializing a treatment for skeletal dysplasias in the Japanese market, with substantial financial incentives.

Taiwan’s Growing Biotech Ambitions

Taiwan is making its mark as the joint venture between Resilience and Taiwan Bio-Manufacturing Corporation (TBMC) highlights a push to modernize its bio-manufacturing capabilities.

The Evolving Landscape, Revolutionize the Clinical and Regulatory Progress

Companies across the Asia-Pacific region celebrated advancements, including new drug approvals, the initiation of clinical trials, and the successful completion of key development milestones.

The Chinese healthcare and biotech landscape is undeniably dynamic. Companies are actively looking beyond their borders, pursuing IPOs in the US, fostering international collaborations, and adapting their strategies to meet the demands of a rapidly evolving global market.

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