PE-VC background remains critical for pre-revenue biotech IPOs, says HKEX executive

Christina Bao, managing director and co-head of sales & marketing at the Hong Kong Exchanges and Clearing (HKEX)

The Hong Kong stock exchange has stressed the importance of having sophisticated investors for pre-revenue biotech companies seeking an initial public offering (IPO) in the city, as it is fielding a strong pipeline of hopefuls looking to capitalise on investors’ enthusiasm in health-related stocks.

The validation from private equity (PE) and venture capital (VC) investors is almost like “a regulatory checkpoint” that helps screen out companies only at the concept stage, said Christina Bao, managing director and co-head of sales & marketing at the Hong Kong Exchanges and Clearing (HKEX), in an interview with DealStreetAsia.

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