On November 12, 2020 RemeGen, a Yantai biotech approaching commercial stage, reported that it completed a $515 million IPO on the Hong Kong exchange in the largest biotech IPO of the year (Press release, RemeGen, NOV 12, 2020, View Source [SID1234570901]). Founded in 2008, RemeGen is developing a portfolio of ten novel mAbs, fusion proteins, antibody-drug conjugates (ADCs) and bifunctional antibodies. Two of its candidates are under NDA review in China: telitacicept for autoimmune diseases (systemic lupus erythematosus) and disitamab vedotin for HER2 cancers. The company’s shares have traded 34% higher since the IPO, giving RemeGen a market capitalization of $4.3 billion.

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