On October 15, 2021 Abbisko, a Shanghai biopharma, reported that it completed a $226 million IPO in Hong Kong to support its small molecule therapies for cancer (Press release, Abbisko Therapeutics, OCT 15, 2021, View Source [SID1234591278]). At the IPO price, Abbisko has a $1.1 billion market capitalization. Formed in 2016, Abbisko has developed a portfolio of 14 drug candidates, five of them at clinical stage. Its lead program, a pan-FGFR inhibitor aimed at urothelial carcinoma, is partnered with AstraZeneca. The company plans to start Phase Ib/II China trials for the candidate soon.

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