On November 9, 2020 RemeGen reported that it has raised $515 million on the Hong Kong exchange in one of the largest biotech IPOs ever produced (Press release, RemeGen, NOV 9, 2020, View Source [SID1234570577]).

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The largest to date in 2020, and one of the biggest after Moderna’s $600 million-plus IPO a few years back, the Yantai-based biotech in China will use its major cash haul toward its healthy pipeline of mid- to late-stage efforts.

This includes telitacicept and disitamab vedotin, both slated for approval within the next three to eight months.

A company was facing major challenges in a global clinical trial program with 30 studies for an uncommon indication. Not only did they need to transition all ongoing clinical trials to the Bioclinica Clinical Adjudication platform for better analysis — but they also needed to do it within 60 days.
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The former therapy is aimed at B cell-mediated autoimmune diseases, with an initial focus on systemic lupus erythematosus, a condition that has seen its share of R&D setbacks, though a consistent series of research in recent years has buoyed hopes of a renaissance in the area.

Disitamab vedotin, meanwhile, works as an in-demand antibody-drug conjugate targeting HER2 cancers, with a focus on gastric, urothelial and HER2-low-expressing breast cancers.

Further back in the pipeline, it also has a series of early-stage drugs working on fusion protein VEGFR/FGF in eye conditions including wet age-related macular degeneration and diabetic macular edema.