Christian Hogg, Hutchmed CEO

Hutchmed files for $600M+ IPO in Hong Kong as lead on­col­o­gy drug su­r­u­fa­tinib awaits FDA's good graces

In on­col­o­gy, a flush of Chi­nese-de­vel­oped drugs has the bio­phar­ma in­dus­try re­think­ing the poles of pow­er in R&D as the blos­som­ing na­tion con­tin­ues to make a name for it­self and pick up bun­dles of cash in the process. Now, as its lead drug faces a piv­otal FDA re­view, the com­pa­ny for­mer­ly known as Chi-Med is plant­i­ng its flag on home soil with a mas­sive pub­lic of­fer­ing.

Hutchmed — re­cent­ly re­named from Chi-Med, or Hutchi­son Chi­na MediTech — will look to raise $603 mil­lion as part of a Hong Kong IPO that serves as a home­com­ing of sorts for the Chi­nese-based on­col­o­gy play­er, which has list­ed on Nas­daq since 2016.

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