Jack Ma-Backed Biotech Business Brii Considers Hong Kong IPO

Jack Ma-Backed Biotech Firm Brii Considers Hong Kong IPO

(Bloomberg) — Brii Biosciences, which focuses on treatments for disorders these types of as Covid-19 and HIV, is looking at an first general public giving in Hong Kong as soon as the initially quarter of following year, according to folks common with the subject.

The biotech agency is functioning with investment banks on the likely listing, which could raise about $200 million to $400 million, the men and women said. Brii is also trying to find about $100 million by way of a pre-IPO funding spherical from private investors, mentioned the men and women, inquiring not to be identified simply because the make any difference is personal.

An providing could come amid a frenzy of share income in Hong Kong led by Chinese technology and wellness treatment businesses. Trader interest surged as the coronavirus pandemic shone a spotlight on desire for these sectors in the world’s second biggest financial state.

Brii, started in early 2018, has headquarters in China and the U.S., in accordance to its web-site. It elevated $260 million from money including ARCH Venture Associates, Sequoia Funds, 6 Proportions Money, Boyu Money, Blue Pool Money and Yunfeng Capital, which was co-started by billionaire Jack Ma. Brii has partnerships with Alibaba Wellbeing Info Technology Ltd., WuXi AppTec Co. and Vir Biotechnology Inc.

Brii’s procedure pipeline targets infectious illnesses these as hepatitis B and tuberculosis. It is also seeking to establish therapies for central nervous program diseases. In March, Brii introduced a partnership with Tsinghua University and a hospital in Shenzhen to acquire antibodies against Covid-19.

Moncef Slaoui, a previous GlaxoSmithKline Plc executive, was a single of the biotech firm’s strategic advisers until finally this yr when he was appointed to oversee the White House’s coronavirus vaccine undertaking.

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Considerations for the first share sale are still preliminary and facts these as the measurement and timing could nonetheless improve, the individuals stated. A representative for Brii declined to remark on irrespective of whether the corporation is scheduling an IPO.

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