Impact Therapeutics, a Chinese cancer-drug developer, aims to raise up to $117 million through an initial public offering in Hong Kong, according to a term sheet seen by Reuters on Tuesday.
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- Impact is offering 41.98 million shares priced between HK$19.75 and HK$21.75 ($2.52 to $2.78) each.
- The deal could increase to $134 million if underwriters exercise an over-allotment option.
- Six cornerstone investors, including Tencent (0700.HK), are expected to purchase about $35.7 million worth of shares.
- Impact plans to price the IPO on May 11 and list on May 13.
About Impact Therapeutics
Impact Therapeutics is a China-based biopharmaceutical company that focuses on developing new treatments for cancer. Founded in 2009, the company works on creating targeted therapies that can kill cancer cells while causing less harm to healthy cells. It uses a scientific method called Synthetic lethality to improve treatment effectiveness. The company also researches DNA damage response (DDR) pathways and develops medicines like PARP, WEE1, and ATR inhibitors to treat cancers such as ovarian cancer, lung cancer, and other solid tumors.
