After announcing a $100 million Series B+ funding, the biotech company’s CEO tells FinanceAsia it is now in full IPO preparation mode with Hong Kong as its preferred destination. However, a dual listing is not out of the question.

It’s been almost two years since the Stock Exchange of Hong Kong (HKG) permitted the public listing of biotech issuers without a track record of profitability. To date, 14 companies in that sector have taken the plunge, of which nine listed in 2019.

Another one to the list looks very likely to be Transcenta. The Suzhou-headquartered biotherapeutics company, which has yet to turn a profit but has raised $230 million in private funding, is aiming for a Hong Kong IPO in around 18 months......

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