First Chinese biotech on Nasdaq in two years draws $104M
The first Chinese biotech to list on the Nasdaq in over two years will do so with a splash.
Oncology and autoimmune-focused I-Mab will raise $104 million in its IPO as it prices at $14 per share, toward the high end of a $12-$15 range. That’ll put it just a couple rungs behind the $150-million-plus raised in 2017 by Zai Labs, a highly regarded pioneer of the model I-Mab is now following: licensing US drugs and introducing them to China.
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