On February 24, 2022 Beijing Lepu Biopharma reported that it completed a $116 million Hong Kong IPO and has traded only slightly lower, despite a generally skeptical global reception for pharmaceutical initial offerings recently (Press release, Lepu Biopharma, FEB 24, 2022, View Source [SID1234609196]). The IPO was priced at HK$7.13 per share and the company’s shares closed down one cent. Lepu is developing a portfolio of in-licensed oncology candidates, including antibodies, oncolytic viruses and combination therapies. Its lead products are PD-1 and PD-L1 candidates. Lepu Bio was started as the drug development division of Lepu Medical, a medical device and equipment company.

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