Qiming Venture Partners’ portfolio company Asieris Pharmaceuticals (SHSE: 688176), a leading company specializing in the treatment of genitourinary tumors, today landed on the Science and Technology Innovation Board (the“STAR Market”) of the Shanghai Stock Exchange. The issue price is CNY 22.98 per share, representing a market cap of CNY 13.1 billion.
This marks the first IPO in Qiming’s portfolio in 2022. Qiming Venture Partners led the Series D financing round of Asieris in 2020.
Asieris Pharmaceuticals is a global innovative pharma company specializing in new drugs for the treatment of genitourinary tumors and other major diseases. To date, the company has built three core technology platforms around genitourinary diseases, including targeted immunomodulator normalization (TIMN), prodrug and accurate drug delivery (PADD), and targeted protein degradation (FASTac). Asieris also has several ongoing programs in clinical and preclinical development.
With the mission of “improving human health and helping people live a more dignified life,” Asieris aims to become a global pharma leader that integrates R&D, manufacturing and commercialization in its areas of focus, and provides best-in-class integrated diagnosis and treatment solutions for patients in China and worldwide.
Dr. Kevin Pan, Founder, Chairman and CEO of Asieris Pharmaceuticals, said, “After more than a decade of development, Asieris has built a well-established drug discovery system. The IPO is an important milestone for the company. In the future, Asieris will continue to leverage its innovative technologies and products as core growth drivers, and focus on the development of global innovative drugs for genitourinary tumors and related diseases. We remain committed to providing physicians and patients with an outstanding portfolio that covers diagnosis and treatment, and strive to create the best integrated solutions in the field.”
Dr. Kan Chen, Partner of Qiming Venture Partners, said, “As one of just a few Chinese innovative companies specializing in the development of drugs for genitourinary tumors and related diseases, Asieris has developed an extensive pipeline for genitourinary diseases via proprietary R&D and strategic partnerships. The company’s IPO is a new starting point, and we look forward to Asieris discovering first-in-class drugs and other innovative products to address huge unmet needs and benefit patients.”