<article>Singapore-based biopharma firm <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/singapore-biotech-firm-aslan-pharmaceuticals-completes-33m-ipo-in-taiwan-73547/">ASLAN Pharmaceuticals</a> has filed for a proposed initial public offering (IPO) in the US to raise capital for clinical development of its products and trials.</article>

Singapore-based biopharma firm <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/singapore-biotech-firm-aslan-pharmaceuticals-completes-33m-ipo-in-taiwan-73547/">ASLAN Pharmaceuticals</a> has filed for a proposed initial public offering (IPO) in the US to raise capital for clinical development of its products and trials.
The Taipei Exchange-listed company on Monday filed a registration statement with the Securities and Exchange Commission (SEC) for the proposed issue of its American Depository Shares (ADSs) on Nasdaq. In a statement, it said the number of ADSs to be offered, and the price range for the proposed offering are yet to be determined.
The pharma company may be looking to raise up to $86 million through the US IPO, according to a report by Renaissance Capital.
ASLAN focuses on therapies for cancers, such as gastric cancer and biliary tract cancer, that are considered orphan diseases in the US and Europe, meaning they affect a small percentage of people and there are few approved therapies for them. In its SEC filing, it noted that Asia offers a unique opportunity to accelerate the development of novel therapies in diseases where either the cancers are more prevalent or the availability of suitable patients is greater.
It plans to use the IPO proceeds to speed up clinical development of its products. &#8220;A portion of the net proceeds will also be used for manufacturing activities in preparation for a potential commercial launch. The remaining net proceeds, if any, are expected to fund new and other ongoing research and development activities, working capital and other general corporate purposes,&#8221; the SEC filing said.
According to the filing, ASLAN&#8217;s lead programme, varlitinib, is a reversible small molecule pan-HER inhibitor that targets the human epidermal growth factor receptors HER1, HER2 and HER4.
Varlitinib is currently being studied in a global pivotal clinical trial for biliary tract cancer for which ASLAN expects to report topline data in 2019. Further, it is also conducting a global Phase 2/3 clinical trial of varlitinib for gastric cancer.
Leerink Partners and Piper Jaffray &amp; Co are acting as joint book-running managers for the offering while BTIG, H.C. Wainwright &amp; Co. and CLSA Limited are co-managers.
Last year, ASLAN had listed on the Taipei Exchange to raise $33 million. However, earlier reports had suggested that the company had been targeting to raise $40 million through the listing.
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According to a report, the company may be looking to raise up to $86 million via the US IPO.

Singapore-based biotech firm ASLAN Pharma files for US listing

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Singapore-based biotech firm ASLAN Pharma files for US listing

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