Innovent Biologics Inc, a Chinese biotech firm backed by Singapore’s Temasek Holdings, has filed for an initial public offering (IPO) in Hong Kong, which, for the first time, allows pre-revenue biotech firms to list.
Its IPO prospectus has not specified the size and pricing of the offering yet but an earlier report by Reuters said the Suzhou, Jiangsu province-based company is seeking to raise up to $500 million.
