Jack Ma-Backed Biotech Company Brii Considers Hong Kong IPO

Jack Ma-Backed Biotech Firm Brii Considers Hong Kong IPO

(Bloomberg) — Brii Biosciences, which focuses on treatment plans for disorders these as Covid-19 and HIV, is taking into consideration an original general public presenting in Hong Kong as shortly as the first quarter of following calendar year, in accordance to people common with the issue.

The biotech organization is working with financial investment banking companies on the prospective listing, which could increase about $200 million to $400 million, the folks explained. Brii is also seeking about $100 million via a pre-IPO funding spherical from non-public traders, said the individuals, inquiring not to be recognized simply because the issue is non-public.

An presenting could arrive amid a frenzy of share product sales in Hong Kong led by Chinese engineering and wellness treatment providers. Trader curiosity surged as the coronavirus pandemic shone a spotlight on demand from customers for these sectors in the world’s 2nd largest economy.

Brii, launched in early 2018, has headquarters in China and the U.S., according to its internet site. It raised $260 million from money such as ARCH Venture Partners, Sequoia Funds, 6 Proportions Money, Boyu Money, Blue Pool Capital and Yunfeng Capital, which was co-started by billionaire Jack Ma. Brii has partnerships with Alibaba Overall health Info Technologies Ltd., WuXi AppTec Co. and Vir Biotechnology Inc.

Brii’s procedure pipeline targets infectious diseases these as hepatitis B and tuberculosis. It’s also looking for to establish therapies for central nervous process disorders. In March, Brii introduced a partnership with Tsinghua University and a medical center in Shenzhen to create antibodies versus Covid-19.

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Moncef Slaoui, a former GlaxoSmithKline Plc executive, was a person of the biotech firm’s strategic advisers right up until this year when he was appointed to oversee the White House’s coronavirus vaccine challenge.

Concerns for the original share sale are even now preliminary and aspects this kind of as the dimension and timing could nonetheless alter, the persons explained. A agent for Brii declined to comment on no matter whether the firm is setting up an IPO.

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