Minsheng Life-backed oncology drug developer Zelgen has priced an initial public offering set to value it at more than $1.1bn.

China-based oncology therapy developer Suzhou Zelgen Biopharmaceuticals has priced a $294m initial public offering that could allow insurance provider Minsheng Life to exit, DealStreetAsia reported today, citing a company statement.

The offering is set to consist of 60 million shares priced at RMB33.76 ($4.90) each on the Shanghai Stock Exchange’s Star Market, valuing the company at up to approximately $1.16bn. It had originally aimed to raise up to $346m in the offering.

Zelgen is developing treatments for a range of…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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