Akeso Biopharma (9926.HK) has announced the successful acquisition of $250 million USD through a share placement, aimed at propelling the global expansion of its innovative drug pipeline. The funding will primarily support the acceleration of international clinical trials for Akeso's pivotal products, with a strong emphasis on its core assets in both Chinese and international markets.
The share placement garnered substantial interest from international investment firms, with long-term and healthcare funds comprising the majority of subscribers. This marks Akeso's second successful capital raise in 2024, bringing the company's projected cash reserves to $1.064 billion USD (7.5 billion RMB).
Strategic Allocation of Funds
According to Akeso, approximately 70% of the newly secured financing will be channeled into expediting the global clinical development programs for its internally developed innovative drugs. This strategic move underscores Akeso's commitment to advancing its diversified pipeline and strengthening its presence in the global pharmaceutical landscape.
Leadership Perspective
Dr. Xia Yu, Founder, Chairwoman, President, and Chief Executive Officer of Akeso Biopharma, commented on the successful financing round, stating, "The efficient completion of this share placement reflects Akeso's long-term investment value being highly recognized by international long-term institutional investors and specialized institutions in the healthcare sector. The success of this financing will bolster Akeso's global development strategy for a diversified pipeline of independently developed new drugs, particularly by accelerating multi-center international clinical trials led by Akeso. This initiative will enhance the global value exploration of our internally developed new drugs and further strengthen our competitiveness in the international market."
Focus on International Clinical Trials
The primary focus of the funding will be to accelerate multi-center international clinical trials led by Akeso. This initiative aims to unlock the global potential of Akeso's internally developed new drugs and solidify the company's competitive edge in the international market. By expanding its clinical trial footprint, Akeso seeks to expedite the regulatory approval process and bring its innovative therapies to patients worldwide.
