China-based immuno-oncology company BeiGene, which has raised more than $170m in the past year, will advance four of its drug candidates with the proceeds.

BeiGene, a China-based immunotherapy developer backed by pharmaceutical firm Merck, filed for an initial public offering in the US on Friday that could raise up to $100m.

BeiGene is working on molecularly targeted and immuno-oncology drugs to treat cancer. It has licensed the right to develop and commercialise one of its product candidates, a small molecule inhibitor classified as BGB-283, outside of China to Merck.

The company plans to use the IPO proceeds to advance clinical trials for four of…