2022-06-20| ChinaIPO

Shenzhen Joincare Plots $300 Million IPO On Swiss Exchange

by Joy Lin
Share To

Shenzhen-based Joincare Pharmaceutical is said to be planning a secondary IPO listing on the SIX Swiss Stock Exchange, an unusual move for a Chinese biopharma. According to the pharma, a public debut in Switzerland could help “fund international financing channels, lift global image and branding, and meet the company’s need for global business development”.

While the exact fundraising size has not been disclosed, Joincare has picked state-owned investment company CITIC Securities to lead the offering, which could raise $300 to $400 million. 


IPO Listing in Switzerland Instead of the US


Pharmaceutical IPOs have stagnated over the past year as the world struggles with economic uncertainties such as the conflict in Ukraine. While most Chinese biopharmas have traditionally aimed for US IPOs, the US market has become increasingly restrictive. Both Chinese and US regulators have imposed tighter restrictions on companies listing in the US, with both sides raising concerns over data protection and auditing. 

Additionally, China last year expanded a stock connect scheme between Shanghai and London to include exchanges in Switzerland and Germany. The changes have prompted companies such as Sany Heavy Industry, Gotion High-Tech, Lepu Medical Technology to announce plans for a secondary listing on the Swiss Exchange. If Joincare jumps on the bandwagon, it could open a new path for Chinese biopharmas to list on the global stage. 

Related article: Belite Bio Clears Biopharma IPO Drought, with HilleVax and Tenon Medical Close Behind 


Profile of Joincare


Joincare is a pharmaceutical group with core businesses revolving around antibiotics (e.g. carbapenem and cephalosporins) and nutraceuticals. It owns two listed companies, Joincare and Livzon Pharmaceutical, more than 20 holding subsidiaries, and employs nearly 13,000 people. Currently, it has developed and deployed four “high-barrier complex preparation technology platforms”.

The company is developing a recombinant fusion protein vaccine booster against COVID-19 variants including Omicron, which is currently undergoing a global Phase 3 trial. 

In February, Joincare announced that its subsidiary Livzon has obtained NMPA approval to begin clinical trials on LZ001 for late-stage solid tumors. The drug, which comes in tablet form, is a ROS1/NTRK/ALK multi-target inhibitor designed to overcome drug resistance in solid tumors with the relevant mutations, mainly in non-small cell lung cancer.

© All rights reserved. Collaborate with us:
Related Post
European Commision Purchases an additional 15 million Moderna Bivalent COVID-19 Vaccines
Novavax Requires Extra Warnings One Day After Receiving Emergency Use Authorization
Inhaling Immunity: UNC Research on Inhalable COVID Vaccines
Vaccine Protecting Against 20 Different Pneumococcal Infections Proves Effective in Trial
FDA Approves Roche’s Established Antiviral For Children Aged Five Or Older
Novartis Reported Two Deaths Following Zolgensma Gene Therapy
Extreme Climate Change Is Aggravating Infectious Diseases!
In Response to Expanding Monkeypox Outbreak, FDA Approves Emergency Use of JYNNEOS Vaccine
Potential $1 billion Acquisition of TeneoTwo by AstraZeneca comes to Fruition
Gene Repair Therapy: First Patient Dosed With New Treatment for Sickle Cell Disease
ESMO 2022 Exhibition
Online and on-side
Cell & Gene Therapy USA 2022
CSCO Educational Book 2022
RESI Boston
Human Gene Therapy Conference
Scroll to Top

Create an account with us now to say goodbye to all the pop-ups!