Chinese biotech firm Adagene plans $200m US IPO

Chinese biotech firm Adagene plans $200m US IPO

Adagene is a clinical stage oncology-based biotech company

Adagene Inc., a Chinese biotechnology company backed by WuXi AppTec Co. and private equity firm General Atlantic, is planning a U.S. initial public offering that could raise about $200 million, according to people familiar with the matter.

The company is currently having informal meetings with prospective investors for the offering, which could happen as soon as the end of this year, the people said, asking not to be identified as the information is private.

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