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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