New stock news | Yilin Bio has appointed CIMB, Morgan Stanley, and JP Morgan to handle its Hong Kong listing, with plans to raise over $100 million.

It is reported that Yilian Biotech has appointed CICC, JPMorgan Chase, and Morgan Stanley to handle its Hong Kong IPO, aiming to raise over 100 million US dollars. Earlier reports stated that Yilian Biotech could be listed in Hong Kong as early as 2026. Yilian Biotech was established in July 2020 and is an innovative drug development company focused on antibody-drug conjugates (ADC) and related technologies, with research and development centers in Shanghai and Boston, USA. The company has invested in clinical development of over 20 new compounds, including 3 antibody-drug conjugates. Its ADC drug for treating gastrointestinal tumors was approved by the US FDA for clinical trials in February of this year, targeting tumors such as gastric cancer, colorectal cancer, pancreatic cancer, and hepatocellular carcinoma. On July 1, Yilian Biotech announced the official appointment of Dr. Zhou Weichang as the Chief Technical Officer (CTO) of the company. Dr. Zhou Weichang has over 30 years of outstanding industry experience, known for his leadership and significant contributions in the development and manufacturing of biopharmaceuticals. He has held important positions such as Executive Director, CTO, and Global Biologics Development and Operations President at WUXI BIO. Before joining WUXI BIO in 2012, he worked in the US biopharmaceutical industry for nearly 20 years, including stints at Merck, PDL BioPharma, and Genzyme for nearly 9, 6, and 5 years respectively.