Kelun-Biotech successfully completed a $250 million share placement on June 5, 2025, representing the largest follow-on offering in Hong Kong's biopharma sector over the past 12 months.
The offering was multiple times oversubscribed with strong participation from global institutional investors, leading to an upsize from the initially targeted $200 million.
Proceeds will fund R&D, clinical trials, manufacturing and commercialization of the company's innovative drug pipeline, which includes over 30 ongoing projects and a leading ADC platform.
The company focuses on solid tumors, autoimmune, inflammatory and metabolic diseases, with 3 approved products, 1 in NDA stage, and over 10 in clinical development.