Hutchison China MediTech Limited (Pending:HCM) expects to raise $86 million in its upcoming IPO. Based in Hong Kong, Hutchison China MediTech is a biopharmaceutical that focuses on the discovery, development and commercialization of therapies for immunological and oncology diseases.
We previewed HCM last week on our IPO Insights platform.
HCM will offer 6.1 million shares at an expected price of $16.33.
HCM filed for the IPO on October 16, 2015.
Lead Underwriters: BofA Merrill Lynch and Deutsche Bank Securities
Underwriters: Cannacord Genuity, CSLA Limited, Panmure Gordon Limited, and Stifel Nicolaus & Co.
Business Summary: Biopharmaceutical Developing Treatments for Cancer and Immunological Diseases
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Hutchison China MediTech Limited engages in the research, development, manufacture, and commercialization of pharmaceuticals and other health-related consumer products mainly in the People’s Republic of China. It operates through three segments: Drug Research and Development, China Healthcare, and Consumer Products.
Hutchison China MediTech manufactures, distributes, and sells over-the-counter, prescription, and health supplements products under the Shang Yao and Bai Yun Shan brands, and it provides drug research and development services. In addition, the company offers traditional Chinese medicine products in the cold and flu and cardiovascular areas.
Hutchison China MediTech has several drug candidates in development (see above), including HMPL-004 that is in Phase III clinical trials for ulcerative colitis and Crohn’s disease; Fruquintinib, which is in Phase III clinical trial for the treatment of colorectal, and gastric cancers; and Sulfatinib, a Phase 1b clinical trial product for neuroendocrine tumors. The company also has Theliatinib, which is in Phase I clinical trial product for the treatment of solid tumors; AZD6094 that is in Phase 1b clinical trial for treating non-small cell lung and gastric cancer; HMPL-523 and HMPL-689, which are preclinical stage products for the treatment of hematological cancers; and HMPL-453 that is in preclinical stage for the treatment of solid tumors.
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