The photo modification app owner had targeted a $5bn valuation for an initial public offering that would grant exits to Sina Weibo, Foxconn and IDG Capital Partners.

Nereus Pharmaceuticals is set to record an exit from BeyondSpring, which is targeting $100m in its initial public offering.

The Chinese instalment buying platform is seeking between $500m and $800m in a US IPO that will provide exits to Kunlun Tech and Ant Financial.

The Snapchat operator has confidentially filed for an initial public offering that will allow Alibaba, Tencent and Yahoo to exit, and it will be valued at between $20bn and $25bn.

Pfizer, Takeda and BB Biotech invested a combined $88m in the offering, conducted less than five months after Myovant spun out of Roivant Sciences.

Novo, Novartis and Amgen all recorded exits as blood disorder therapeutics developer Ra floated in the middle of its range.

Stanford University spinout iRhythm, which had raised a total of $115.5m in equity and debt, has gone public in a $107m initial public offering.