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Biotech company Brii on the verge of considering Hong Kong IPO

Author : Pankaj Singh | Published Date : 2020-08-27 

Brii Biosciences, a biotechnology establishment focusing on treatment for HIV, COVID-19, and the like, is reportedly considering an IPO in Hong Kong somewhere around Q1 2021. The company has been working to liaison with investment banks on the potential initial public offering, through which the firm plans to raise around USD 200 million to USD 400 million. Reliable reports claim that Brii is also looking out to raise USD 100 million through a pre-IPO funding round from private investors.

For the record, Brii Biosciences was established in early 2018, and its headquarters are located in China and the U.S. The company had raised close to USD 260 million from funds, from investors such as Sequoia Capital, Boyu Capital, 6 Dimensions Capital, ARCH Venture Partners, Yunfeng Capital, and Blue Pool Capital. Brii has also forged partnerships with WuXi AppTec Co., Vir Biotechnology Inc., and Alibaba Health Information Technology Ltd.

As per sources familiar with the knowledge of the matter, an offering may come amidst a slew of share sales in Hong Kong, being led by Chinese medical and technology companies. Investor interest has now surged with the COVID pandemic having shed light on the demand for these sectors in China.

Speculations have it that Brii’s treatment pipeline is known for targeting infectious diseases such as tuberculosis and hepatitis B. The company also aims to develop different treatments for diseases of the central nervous system diseases. Back in March, the firm had declared that it has partnered with a Shenzhen based hospital and the Tsinghua University to develop antibodies against Covid-19.

Moncef Slaoui, a former executive of GlaxoSmithKline Plc, had been one of the strategic advisers for the biotech firm until this year. Presently through, Slaoui has been appointed to oversee the coronavirus vaccine project of the White House.

Considerations for the initial share sale still seem to be preliminary and the size and timing of the same may also be subject to change, claim people familiar with the matter. A Brii representative however, refused to comment on whether the biotech firm is planning an IPO.

Source Credits: https://finance.yahoo.com/news/jack-ma-backed-biotech-firm-010418338.html

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

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