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| Friday, 20 November 2020, 15:15 HKT/SGT | |
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Source: Antengene | |
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HONG KONG, Nov 20, 2020 - (ACN Newswire) - Antengene Corporation Limited (6996.HK), a clinical-stage biopharmaceutical company with integrated drug discovery, clinical development, anchored in Asia-Pacific (APAC) with a global layout, is officially listed and commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK") today.
 | | Antengene's listing ceremony in Shanghai:
Dr. Jay Mei, M.D., Ph.D., founder, Chairman and CEO (Left); Mr. Yiteng Liu, M.Sc., Chief Operating Officer (Right)
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The total number of shares offered in the Global Offering amounts to 154,153,500 shares, with the final offer price determined at HK$18.08 per offer share. The net proceeds from the Global Offering to be received by the Company, after deduction of the underwriting fees and expenses paid and payable by the Company in connection with the Global Offering, are estimated to be approximately HK$2,635.9 million. The Hong Kong offer shares initially offered under the Hong Kong Public Offering have received satisfactory response, where the total number of valid applications amounted to approximately 264.76 times of the total number of Hong Kong offer shares initially available for subscription under the Hong Kong Public Offering. The offer shares initially offered under the International Offering have also been over-subscribed by approximately 13.5 times. Due to the heavy over-subscription under the Hong Kong Public Offering, the Company has adopted the claw back mechanism, through which part of the shares have been reallocated from the International Offering to the Hong Kong Public Offering. The final numbers of Hong Kong offer shares and International offer shares are respectively 77,077,000 and 77,076,500, each representing approximately 50% of the total number of the offer shares initially available under the Global Offering before any exercise of the over-allotment option.
Antengene, which focuses on innovative oncology medicines, adopts a differentiated combinatory and complementary R&D approach to discover, develop and commercialize global first-in-class, only-in-class and/or best-in-class therapies, in order to fully unlock their therapeutic potential. As of the latest practicable date, the Company had built a highly selective pipeline of 12 drug assets focused on oncology, in which one of the Company's core products, ATG-010 (selinexor) or XPOVIO (selinexor), is a first-in-class and only-in-class selective inhibitor of nuclear export (SINE) compound that inhibits the nuclear export protein, XPO1, leading to the accumulation of tumor suppressor proteins in the cell nucleus and selective induction of apoptosis in cancer cells. Currently, the Company has initiated two Phase II registrational clinical trials for R/R MM and R/R DLBCL and will leverage the data from the clinical trials carried out by Karyopharm (a global pharmaceutical company listed on NASDAQ) to submit the new drug application (NDA) for ATG-010 (selinexor) by 2021 directly in certain APAC countries or territories where NDA approval may be obtained without additional clinical trials, including Australia, Singapore, Hong Kong, South Korea, Taiwan and Thailand.
Dr. Jay Mei, M.D., Ph.D., founder of Antengene, has over 25 years of experience in clinical research and development of oncology therapeutics globally, focusing on the clinical R&D of oncology drugs in the United States and China. Other management members also have strong proven track records in the research, clinical development and commercialization of drugs around the globe as well as in financing and investments. Since Antengene's establishment, with its premier and experienced management team, it has received supports from industry-leading investors, including strategic investors such as Celgene, WuXi AppTec and Tigermed, and financial investors such as Fidelity, Blackrock, GIC, Hillhouse, Boyu Capital, FountainVest Partners and Qiming Venture Partners. Meanwhile, Fidelity, GIC, Blackrock, Boyu Capital, Cormorant, Hillhouse, Sequoia Capital China Growth, CRF Investment, Laurion Capital Master Fund and Octagon Investments are also the cornerstone investors in the Company's Global Offering.
Dr. Mei said, "Today marked a milestone in Antengene's development. Antengene's successful debut in the Hong Kong stock market shows global investors' profound recognition for our strategic model, growth potential, management team and product pipeline. We are so proud of it and would like to express our gratitude to investors for their trust in and support to Antengene. Setting off from a new starting point, we will seize the historical opportunity in the global novel drug development. By adopting the differentiated development approach and grasping the hot spots at the cutting edge of R&D, we will persevere in discovering, developing and commercializing novel oncology therapies with novel mechanisms so as to address unmet clinical needs in APAC and other parts of the world."
About Antengene
Antengene Corporation Limited is a clinical-stage biopharmaceutical company focused on innovative oncology medicines. Antengene aims to provide novel anti-cancer drugs to patients in APAC and around the world. Since its inception, Antengene has built a pipeline of 12 clinical and pre-clinical stage assets, obtained 9 IND approvals and has 9 ongoing cross-regional clinical trials in the APAC region. At Antengene, we focus on developing drug candidates with novel targets or MoAs and first-in-class potential to address significant unmet medical needs. The vision of Antengene is to "Treat Patients Beyond Borders" through research, development and commercialization of first-in-class/best-in-class therapeutics.
Topic: Press release summary
Source: Antengene
Sectors: Daily Finance, Cloud & Enterprise, Daily News, BioTech, Healthcare & Pharm
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