MedCity News January 24, 2025
Ascentage Pharma’s U.S. IPO will support clinical testing of its two lead drugs, small molecules in development for advanced cases of certain blood cancers. Takeda holds an exclusive option to develop and commercialize one of those drugs in most of the world.
Ascentage Pharma, a China-based drug developer with global ambitions, now has $126.4 million from a U.S. IPO that will mainly support late-stage clinical development of two medicines that could offer advantages over some currently available cancer therapies.
Ascentage has traded on The Stock Exchange of Hong Kong since 2019. In preliminary financial terms set earlier this week for its U.S. stock market debut, the company planned to offer more than 7.3 million American depositary shares (ADS) priced at...
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