New IPO News | Renal therapeutics biopharmaceutical company LianBio-B has launched its IPO, targeting a listing on June 29, with a board lot subscription amount of HK$2,282.79

Futu News, June 18: $ALEBUND-B (09637.HK)$ announced that the IPO will be open for subscription from June 18 to June 24. The company plans to globally offer approximately 56,755,400 shares, with an expected listing date of June 29.

Company Overview

LianBio is a biopharmaceutical company which, according to Frost & Sullivan, possesses the world’s broadest pipeline of investigational therapies covering renal indications. As of the latest practicable date, the company’s clinical and preclinical portfolio consists of one core product, AP301, and six other candidates, including one late-stage clinical candidate (AP306), one preclinical candidate (AP303), and four preclinical candidates (AP308, AP304, AP305, and AP307).

Ligand Pharmaceuticals has established a dedicated team committed to delivering high-quality products. The company has developed differentiated and effective therapies targeting the world’s largest renal disease indication and is focused on meeting global regulatory requirements through its preclinical and clinical evidence to achieve proof of concept as early as possible. Leveraging its deep clinical expertise, the company can advance global synchronized development and regulatory submissions through multicenter clinical trials and accelerate clinical development through efficient execution.

Financial Summary

In 2024 and 2025, Ligand Pharmaceuticals reported total losses of RMB 335.1 million and RMB 751.8 million, respectively. The company’s research and development expenses increased by 58.3%, or RMB 137.2 million, from RMB 235.4 million in 2024 to RMB 372.6 million in 2025.

Use of Proceeds

Regarding the use of proceeds, Ligand Pharmaceuticals expects net proceeds from the global offering of approximately HKD 1.181 billion (assuming the over-allotment option is not exercised and based on an issue price of HKD 22.6 per share). According to the prospectus, Ligand Pharmaceuticals intends to allocate the proceeds from the global offering as follows:

Approximately 71% will be used for the ongoing and planned clinical development and regulatory activities for the company’s product candidates; approximately 7% will be allocated to advance preclinical development of pipeline expansion candidates (including AP304, AP305, and AP307); approximately 12% will be used to upgrade manufacturing capabilities and commercialize the company’s drug candidates upon marketing approval; and approximately 10% will be used for working capital and other general corporate purposes.

Further reading:Ligand Pharmaceuticals-B Prospectus

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Editor/Joe

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