Leads Biolabs Achieves Successful HKEX Listing with $189 Million IPO
Leads Biolabs Achieves Successful HKEX Listing with $189 Million IPO
On July 25, 2025, Nanjing Leads Biolabs Co., Ltd. became a publicly traded company on the Main Board of the Stock Exchange of Hong Kong Limited (HKEX), under the stock code 09887. The biotechnology firm set its initial public offering (IPO) price at HKD 35 per share, allowing it to raise around $189 million (excluding the green shoe option).
The IPO consisted of 36.86 million shares, which were divided into two segments: 16.03 million shares reserved for the local market in Hong Kong and 20.84 million shares allocated for international investors. The major stakeholders in this transaction included Morgan Stanley and CITIC Securities as joint sponsors.
Purpose of the Funds Raised
The influx of capital will be strategically utilized to advance Leads Biolabs' research and development activities. The financial breakdown of the anticipated spending is as follows:
- - 65% will focus on ongoing and upcoming clinical trials as well as regulatory efforts.
- - 15% is earmarked for the enhancement of preclinical assets, expanding current pipelines, and refining technology platforms.
- - 10% aims at upgrading manufacturing capabilities and preparing for commercialization post-approval.
- - 10% will be allocated for working capital and other corporate expenses.
A Vision for Innovation in Therapy
Dr. Xiaoqiang Kang, the Founder, Chairman, and CEO of Leads Biolabs, expressed his enthusiasm regarding the IPO, viewing it as a significant milestone in the company's mission to become a global leader in immuno-oncology therapeutics. He stated, "This debut marks our transition from a laboratory-focused enterprise to a more expansive, capital market-driven organization. Our goal has been focused on eliminating diseases while retaining the entrepreneurship that defines Leads Biolabs."
Founded in 2012, Leads Biolabs has dedicated itself to innovating therapies that meet significant medical challenges in the fields of oncology, autoimmune disorders, and other critical diseases, both within China and around the globe. The company now boasts a diversified pipeline featuring 14 novel drug candidates, with six actively in clinical development and four standing as top-tier, globally competitive candidates.
Embracing Cutting-Edge Technology
With a focus on integrated business methodologies, Leads Biolabs conducts in-house drug discovery, development, and commercialization processes. Their key assets lie in three groundbreaking therapeutic strategies: Immuno-oncology 2.0 (IO 2.0), T-cell engagers (TCEs), and antibody-drug conjugates (ADCs). Their oncology pipeline is noteworthy, comprising 12 investigational products, including:
- - 3 monoclonal antibodies
- - 5 bispecific antibodies
- - 3 ADCs
- - 1 bispecific fusion protein
Additionally, Leads Biolabs is innovating therapeutics for autoimmune diseases, featuring a promising bispecific fusion protein and a trispecific antibody;
some of which are being developed through collaboration.
Leads Biolabs' R&D is significantly boosted by proprietary technology platforms that harness machine learning and diverse antibody engineering techniques. For instance, the LeadsBody™ platform showcases their advanced capabilities for creating CD3-targeted bispecific antibodies, enabling targeted T-cell activation within the tumor environment to reduce adverse effects like cytokine release syndrome (CRS).
Progressing towards Commercialization
With a hefty investment into clinical trials, Leads Biolabs has made commendable strides in solid tumor therapies. Their bispecific antibody candidates offer encouraging potential, with data indicating robust effectiveness in treating various cancers, including multiple myeloma and solid tumors such as ovarian and colorectal cancers. This trajectory gives them a competitive edge in the immunotherapy space, hoping for expansive future use of their compounds, including the unique LBL-024 candidate.
By staying committed to exceptional research and strategic collaborations, Leads Biolabs is poised to not only facilitate groundbreaking treatment options but also expand their operational footprint to support commercialization efforts.
In conclusion, Leads Biolabs' successful entry into the HKEX is a testament to their innovative approaches and potential to reshape the landscape of cancer therapies,
encouraging patients worldwide through advanced treatment methodologies.
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