Genrix grossed $478.9m in the largest initial public offering from an innovative drug-focused biotech on Shanghai's STAR Market since February 2022. Meanwhile, Laekna and Cutia launched two smaller IPOs in Hong Kong.

China continues to dominate the latest list of global billionaires and top execs from domestic pharma firms Hengrui and Hansoh ranked among the wealthiest overall in the country, along with the founder of vaccine maker Zhifei Bio. A number of top Chinese biopharma business executives also featured in the global top 100 billionaires list.

With the first half of 2022 ending, two Chinese developers of innovative drugs - antibody specialist Chongqing Genrix Biopharmaceutical and Suzhou Teligene, which focuses on small molecules, are looking to go public on Shanghai’s STAR Market, ending a recent drought of biopharma listings.

Four Chinese biotech companies reach in- and out-licensing deals covering antibody drug conjugates, small molecules and vaccines as they continue to pursue and develop innovation.