Right on the heels of $150M raise, As­cen­t­age files the lat­est in a rush of HKEX biotech IPOs — but is the mar­ket too jit­tery?

When I spoke to As­cen­t­age CEO Da­jun Yang last month about their $150 mil­lion raise, he dodged my ques­tion about the prospects for an IPO. As it turned out, we didn’t have to wait long for the an­swer.

The fast-grow­ing biotech post­ed their ap­pli­ca­tion on the Hong Kong stock ex­change Mon­day, mark­ing the 10th bio­phar­ma com­pa­ny to line up their IPO pitch — all de­buts ex­cept for BeiGene — since the city opened up to pre-rev­enue biotechs in April.

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