LianBio, which is developing in-licensed therapies for a variety of indications in China, announced terms for its IPO on Wednesday.
The Princeton, NJ-based company plans to raise $325 million by offering 20.3 million ADSs at a price range of $15 to $17. At the midpoint of the proposed range, LianBio would command a fully diluted market value of $1.8 billion.
LianBio is focused on the in-licensing, development, and commercialization of therapeutics in Greater China, including Mainland China, Hong Kong, Taiwan, Macau, and other Asian markets. The company currently has nine programs across five therapeutic areas, including oncology, cardiovascular, and inflammatory diseases. LianBio has in-licensed programs from Bristol Myers Squibb, BridgeBio, and Pfizer, in which LianBio typically buys the rights to pursue the program within China, in exchange for royalties.
LianBio was founded in 2019 and plans to list on the Nasdaq under the symbol LIAN. Goldman Sachs, Jefferies, and BofA Securities are the joint bookrunners on the deal. It is expected to price during the week of October 25, 2021.
