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Chinese biotech company Bliss Biopharmaceutical (BlissBio) is reportedly considering a Hong Kong initial public offering (IPO) that could raise at least $150 million, according to Bloomberg sources. The Hangzhou-based cancer drug developer is working with financial advisers to evaluate the listing, although final decisions have yet to be made and the IPO size could still change. There is also a possibility the company may postpone or cancel the plan.
Founded in 2017, BlissBio focuses on antibody-drug conjugates (ADCs) that specifically target tumors. The company currently has multiple therapies in early-stage clinical trials, including Phase 1 and Phase 2 studies, as stated on its website. ADCs are a cutting-edge treatment combining antibodies with cancer-killing agents to selectively target cancer cells, offering potential breakthroughs in oncology.
Investor interest in China's biotech sector remains strong, especially for innovative oncology firms. A recent example is Duality Biotherapeutics Inc (HK:9606), which saw its shares nearly double after its Hong Kong IPO last month, reflecting growing confidence in homegrown pharmaceutical innovation.
If successful, BlissBio’s IPO would join a wave of Chinese biotech listings on the Hong Kong Stock Exchange, which has become a favored venue for healthcare companies seeking capital to fund clinical trials and expand their R&D pipelines. With increasing demand for novel cancer therapies in China and globally, the market is watching closely to see whether BlissBio moves forward with the offering.
