Innovent Receives 10th Anniversary CHIC IPO of the Year Award
SHANGHAI, March 27, 2019 /PRNewswire/ -- Innovent Biologics, Inc. (Innovent) (HKEX: 01801), a world-class biopharmaceutical company that develops and commercializes high quality medicines, today announced that it has received the 10th Anniversary China Healthcare Investment Conference (CHIC) "IPO of the Year" Award.
As an influential communication platform in the healthcare industry, CHIC not only improves China's healthcare investment ecosystem, but also promotes the development of the industry. The award ceremony was held in Shanghai yesterday. The award aims to recognize companies that had successful IPO and have achieved outstanding performance in China's healthcare industry. Dr. Qinwei Zhou, Chief Operating Officer of Innovent Biologics, received the award on behalf of the company. After receiving the "IFR Asia-Pacific IPO of the Year 2018" and "IFR Asia Review Hong Kong Equity Issue of the Year 2018" awards, Innovent once again won a recognition in the investment community.
"Innovent was listed on the Main Board of the Hong Kong Stock Exchange on October 31, 2018. IPO for the company is like a young man who formally enters the adulthood, seizing new opportunities and embracing challenges," said Dr. Qinwei Zhou, Chief Operating Officer of Innovent Biologics. "We are honored to be recognized as the IPO of the Year. This will encourage us to pursue higher goals going forward. Thank you for placing your trust and confidence in Innovent! We will continue to focus on developing and commercializing high quality biopharmaceuticals that are affordable to ordinary people."
Innovent was listed on the Main Board of the Hong Kong Stock Exchange on October 31, 2018. The stock price has increased over 100% since IPO. When Innovent launched its new share offering, in addition to getting strong support from ten well-known cornerstone investors, its international allocation also attracted an oversubscription rate of 15 times from high-quality well-known global investors, enabling the company to successfully launch the IPO in the global capital market. The IPO was priced at the top end of the prospective range and became the largest IPO fund raise for a pre-revenue biotech company.
Inspired by the spirit of "Start with Integrity, Succeed through Action," Innovent's mission is to develop and commercialize high quality biopharmaceutical products that are affordable to ordinary people. Established in 2011, Innovent is committed to developing, manufacturing and commercializing high quality innovative medicines for the treatment of oncology, autoimmunity and other major diseases. On October 31, 2018, Innovent was listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code: 01801.HK.
Since it was founded, Innovent has developed a fully-integrated platform which includes R&D, CMC (Chemistry, Manufacturing, and Controls), clinical development and commercialization capabilities. Leveraging the platform, the company has built up a robust pipeline of 20 innovative assets in the fields of oncology, ophthalmology, autoimmunity, and cardiovascular diseases. Fourteen assets have entered into clinical development, four have entered Phase III clinical trials, two monoclonal antibodies have their New Drug Application (NDA) under review, and one, Tyvyt® (sintilimab injection), is now approved for relapsed or refractory classical Hodgkin's lymphoma (r/r cHL).
Innovent has built an international team of advanced talents in high-end biological drug development and commercialization, including many overseas experts. The company has also entered into strategic collaborations with Eli Lilly and Company, Adimab, Incyte, Hanmi and other international pharmaceutical companies. Innovent strives to work with all relevant parties to help advance China's biopharmaceutical industry, improve drug availability to ordinary people and enhance the quality of the patients' lives. For more information, please visit: www.innoventbio.com.
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SOURCE Innovent Biologics, Inc.