InnoCare Completes Initial Public Offering on the STAR Market of the Shanghai Stock Exchange in China

BEIJING--(BUSINESS WIRE)--InnoCare Pharma (HKEX: 09969), a leading biopharmaceutical company for the treatment of cancer and autoimmune diseases, announced today that the Company has successfully got listed on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange (SSE), making InnoCare the double-listed biotechnology company on the Hong Kong Stock Exchange (HKEx) and the STAR Market.

InnoCare will use the net proceeds from the STAR Offering to fund its drug research and development, drug R&D platform upgrade, marketing network upgrade, information technology upgrade and working capital projects. China International Capital Corporation Limited acted as a sponsor and a joint bookrunner for the STAR Offering. Goldman Sachs Gao Hua Securities Company Limited, J.P. Morgan Securities (China) Company Limited and Yuekai Securities Corporation Limited acted as joint bookrunners for the STAR Offering.

Dr. Jasmine Cui, Co-founder, Chairwoman and CEO of InnoCare said: "It is another key milestone in InnoCare’s development to get listed on the STAR market. Under the core value of ‘Science drives innovation for the benefit of patients’, we have established an experienced drug R&D team, built an efficient and complete platform ranging from original innovation, clinical development, manufacturing to commercialization, and developed a robust product pipeline. After the listing, we will work harder to deliver better performance, and continue to make unremitting efforts to improve public health.

InnoCare was jointly founded in 2015 by Dr. Jasmine Cui and Professor Yigong Shi. After seven years of solid development, InnoCare has established a fully integrated biotech innovation platform, and developed a robust product pipeline focusing on hematologic cancer, solid tumors and autoimmune diseases, with orelabrutinib at the commercial stage, tafasitamab in combination with lenalidomide approved for early access program in Boao, 13 clinical stage assets and three other IND enabling stage candidates.

About InnoCare

InnoCare is a commercial stage biopharmaceutical company committed to discovering, developing, and commercializing first-in-class and/or best-in-class drugs for the treatment of cancer and autoimmune diseases. We strategically focus on lymphoma, solid tumors, and autoimmune diseases with high unmet medical needs in China and worldwide. InnoCare has branches in Beijing, Nanjing, Shanghai, Guangzhou, Hong Kong and United States.

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