New IPO News | Tiance Bio-B, a developer of therapeutics for autoimmune diseases, has launched its initial public offering and plans to list on June 5, with a board lot subscription amount of HKD 4,851.44

Futu News, May 28:$LONGBIO-B (01779.HK)$The company announced that the IPO subscription period will run from May 28 to June 2. It plans to offer approximately 14.1931 million shares globally, with listing expected on June 5.

Company Overview

The company is a clinical-stage biopharmaceutical company founded in 2020, headquartered in Shanghai and Changshu, Suzhou, China. It primarily focuses on the independent discovery and development of biologics targeting allergic and autoimmune diseases. The company has built a comprehensive pipeline of biologic drug candidates covering rhinology, dermatology, respiratory, hematology, nephrology, and other autoimmune disease areas.

The company's lead product, LP-003, is an anti-IgE antibody featuring a novel sequence design. LP-003 primarily functions by blocking free IgE in blood and tissues, thereby inhibiting IgE-mediated allergic reactions. IgE is central to the mechanism of Type I hypersensitivity. Type I hypersensitivity, triggered by allergens in various organs, causes seasonal allergic rhinitis (AR), allergic asthma, chronic spontaneous urticaria (CSU), food allergies, and other allergic conditions.

Financial Summary

For the years 2024 and 2025, our total comprehensive losses amounted to RMB 137.3 million and RMB 175.6 million, respectively.

Source: Prospectus

Use of Proceeds

Regarding the use of proceeds, Tianchen Bio-B expects the net proceeds from the global offering to be approximately HKD 1.254 billion (assuming the over-allotment option is not exercised and calculated based on the offer price of HKD 96.06 per share). According to the prospectus, Tianchen Bio-B intends to allocate the net proceeds from the global offering as follows:

Approximately 75.0% will be primarily used for the research and development and commercialization of core and key products, approximately 15.0% will be allocated to further develop other preclinical pipeline products and R&D platforms, and approximately 10.0% will be used for working capital and other general corporate purposes.