The oncology diagnostics technology provider has filed to go public in the US, with Legend Holdings and Eli Lilly set to exit through the flotation.
Burning Rock Biotech, the China-based cancer diagnostics technology developer backed by pharmaceutical firm Eli Lilly and conglomerate Legend Holdings, has filed for a $100m initial public offering on the Nasdaq Global Market.
Founded in 2014, Burning Rock has created 32 precision oncology tests that are used to identify and select treatments for types of cancer including breast, gastrointestinal, lung and prostate carcinomas in the early stages.
The company’s net loss grew from RMB232m in 2018 to RMB334m ($47.2m) in…
