The Sinopharm-backed laboratory animal model developer floated on Shanghai Stock Exchange’s Star Market two years after its last equity funding.

GemPharmatech, a China-based laboratory animal technology developer backed by pharmaceutical firm Sinopharm Group, listed on the Shanghai Stock Exchange (SSE) yesterday in an initial public offering sized at approximately $175m.

The company issued 50 million shares on SSE’s Star Market priced at RMB22.53 ($3.51) each, with Huatai United Securities lead underwriter for the offering.

Founded in 2017, GemPharmatech provides lab animal models and related services for biomedical product and therapeutics developers. It has built more than 20,000 commercial mouse models…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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