Bio-Thera IPO Raises $241m

Four-Fifths Of New Funds Earmarked For Development

Bio-Thera, which has just started selling China’s first adalimumab biosimilar rival to AbbVie’s top-selling arthritis treatment Humira, has raised $241m in an IPO on the Shanghai Stock Exchange.

IPO
Bio-Thera's IPO Has Raised $241m • Source: Shutterstock

Bio-Thera Solutions, which launched its made-in-China biosimilar version of AbbVie’s blockbuster Humira (adalimumab) arthritis drug in its domestic market in January and has posted positive trial results for another biosimilar, has reaped $241m from a listing on the Shanghai Stock Exchange’s STAR market, a new equity bourse founded to help technology firms raise capital.

The pre-revenue listing on 21 February on the STAR market, billed as China’s answer to Nasdaq, gave Bio-Thera a valuation...

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