10/15/2021 | Press release | Distributed by Public on 10/15/2021 02:13
Hong Kong - Abbisko (Stock Code: 2256.HK, the "Company"), a clinical-stage biopharmaceutical company, today started trading on the Hong Kong Stock Exchange raising US$226 million as the Company continues to advance its clinical and pre-clinical drug candidates and expand in the growing oncology drug markets in China and globally.
With seasoned management and R&D teams, Abbisko is dedicated to the discovery and development of innovative and differentiated small molecule oncology therapies in cancer and beyond, addressing critical unmet needs for patients in China and globally. Since its inception in 2016, the Company has strategically designed and developed a pipeline of 14 candidates focused on oncology, including five candidates at clinical stage.
The global oncology drug market is estimated to grow from US$150.3 billion in 2020 to US$670.4 billion in 2035 at a CAGR of 10.5% and the oncology drug market in China is estimated to grow from US$28.6 billion in 2020 to US$145.5 billion in 2035 at a CAGR of 11.5% .
Proceeds from Abbisko's Global Offering will be allocated to fund the Company's ongoing and future R&D, pre-clinical research and studies, the construction of manufacturing facilities and the lease of new R&D facilities.
Carlyle invested into Abbisko through an affiliated entity of Carlyle Asia Partners Growth I and participated in its US$123 million Series D financing in January 2021.
Ling Yang, a Managing Director of the Carlyle Asia advisory team, congratulated the Company: "We believe Abbisko is well-positioned for the next phase of its growth with its strong management team, leading R&D capabilities, biopharmaceutical platform and a diversified pipeline of clinical and pre-clinical stage proprietary assets. We believe Abbisko has a bright future in the Chinese and global biopharmaceutical market, and are excited to be a part of today's significant milestone."
Carlyle has a well-established history of investing in the healthcare sector, both in China and globally, investing more than US$14 billion of equity in more than 80 deals in the global healthcare sector as of June 30, 2021. Healthcare investments in China include Shenzhen Salubris Pharmaceuticals, Adicon Holdings Limited, Hutchmed (China) Limited, Ambio Holdings and MicroPort Scientific Corporation, while global medical investments include PPD (Pharmaceutical Product Development), AMRI (Albany Molecular Research Inc), MedPointe and iNova Pharmaceuticals, among others.
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $276 billion of assets under management as of June 30, 2021, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs nearly 1,800 people in 27 offices across five continents. Further information is available at carlyle.com. Follow Carlyle on Twitter @OneCarlyle.
Finsbury Glover Hering:
Tel: +852 9681 9865
E-mail: [email protected]
 Abbisko IPO Prospectus - http://api.aconnect.com.hk/Attachment/69952