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Stock impact report

Biocytogen Pharmaceuticals Refiles for Hong Kong IPO [MarketWatch]

China Life Insurance Company Limited American Depositary Shares (LFC) 
US:NYSE Investor Relations: e-chinalife.com/irchannel/http/en
Company Research Source: MarketWatch
The Beijing-based company filed an updated draft prospectus to the Hong Kong bourse late Sunday, saying that it plans to use the proceeds from an offering to research and develop drugs to treat cancers and tumors in key markets like the U.S., Australia and China, among other uses. Biocytogen, which counts China Merchants Bank and China Life Insurance among its backers, didn't specify a timeline for the offering nor say how much it is looking to raise. It said parties holding a collective 29% stake will remain its controlling shareholders. Biocytogen first filed for an IPO in Hong Kong last year, then refiled March this year after the initial application lapsed. Founded in 2009, Biocytogen specializes in gene-editing services, pre-clinical pharmacology, antibody development and biologic drug R&D. Biocytogen said that it has worked with nine of the 10 top pharmaceutical companies globally, citing research from consultancy Frost & Sullivan. The company's revenue rose to 354.6 mi Show less Read more
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