Eye­ing NDA for its di­a­betes drug, Hua Med­i­cine knocks at HKEX's door with an IPO ap­pli­ca­tion

A month af­ter the Hong Kong Stock Ex­change opened its doors to pre-rev­enue biotechs — and re­ceived one guest, As­cle­tis — Hua Med­i­cine has walked in with its own ap­pli­ca­tion to list.

The Shang­hai-based di­a­betes drug­mak­er is seek­ing $200 mil­lion in the IPO, South Chi­na Morn­ing Post re­ports, al­though there was no way to con­firm the num­ber on the heav­i­ly redact­ed ap­pli­ca­tion proof. That would mark a de­crease from the $300 mil­lion to $400 mil­lion that it was pre­vi­ous­ly ru­mored to be seek­ing, but it would get Hua through Phase III tri­als, fur­ther R&D and po­ten­tial launch of its lead drug, dorza­gli­atin, in Chi­na.

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