Qim­ing-backed CAN­bridge gets its Hong Kong IPO as Nas­daq slow­down prompts re­newed mar­ket analy­sis

Though IPO ac­tiv­i­ty has slowed in the US sig­nif­i­cant­ly, a Qim­ing Ven­ture-backed biotech took the pub­lic leap in a Hong Kong de­but Fri­day.

CAN­bridge Phar­ma­ceu­ti­cals be­gan trad­ing on the HKEX af­ter rais­ing about $77.4 mil­lion in its IPO, ac­cord­ing to a Qim­ing re­lease. The move comes a lit­tle less than two years af­ter CAN­bridge’s last raise, when it pulled in $98 mil­lion from a glob­al syn­di­cate joined by RA Cap­i­tal.

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