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Axiom Biosciences targets HK primary listing in 2027, US in 2029
The San Diego-based biotech plans to raise at least $200 million in a 2027 Hong Kong IPO, then pursue a secondary US listing in 2029.
Axiom Biosciences, a US-headquartered biotech, plans to seek a primary listing in Hong Kong in 2027, followed by a secondary listing in the United States in 2029, according to SCMP Economy.
The company is developing experimental therapies for newborns with severe brain injuries and says it uses artificial intelligence in its drug development, with SCMP Economy noting it is targeting at least US$200 million through the Hong Kong IPO.
In its statement, Axiom CEO Remo Moomiaie-Qajar said US-based science has not been matched by funding levels, and he argued that Hong Kong healthcare listings have outperformed Nasdaq listings over recent years.
SCMP Economy also reported that Axiom, founded in 2018 and headquartered in San Diego, has raised US$17.17 million across 13 funding rounds, citing CB Insights.
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