Oct. 7, 2020, Shanghai - Qiming’s portfolio company Genor Biopharma Co. Ltd, (SEHK:6998) officially listed on the Main Board of The Stock Exchange of Hong Kong Limited today. The issue price is HK$ 24 per share; the stock opens at HK$ 29.2 per share, up 21.67%, with a market cap of HK$ 14 billion.
Genor public offering shares are oversubscribed for 1247x with over HK$ 360 billion committed, making it one of the most oversubscribed pre-revenue biotech stocks.
Founded in 2007, Genor is a biopharmaceutical powerhouse focusing on developing and commercializing oncology and autoimmune drugs. The company aims to become a biopharmaceutical engine in discovery, research, development, manufacturing and commercialization of innovative therapeutics initially for patients in China and gradually for patients globally.
Since its inception, Genor has been focusing on major therapeutic areas with substantial unmet medical needs in oncology, autoimmune and other chronic diseases. The company has developed drug candidates targeting pathways with blockbuster potentials, encompassing top three oncology targets and five out of the ten bestselling drugs globally.
“Genor is one of China’s earliest innovative drug companies. Genor has a robust pipeline and a global R&D layout. The proceeds from the offering will accelerate the commercialization of multiple products. In the future, Genor will develop more innovative drugs and become a world-leading biopharmaceutical company,” said Kan Chen, Principal of Qiming Venture Partners.