Intellective Biologics, a China‑based biologics CDMO, has submitted an application for an initial public offering (IPO) on the Hong Kong Stock Exchange (HKEX). The company, founded in 2018, operates a one molecule, all‑the‑way model, providing services from early‑stage development through to commercial‑scale manufacturing. It has raised a cumulative total of approximately RMB 1.23 billion (USD 182 million) across six funding rounds, with a post‑money valuation of about RMB 5.91 billion (USD 874 million) from its most recent round.

With three manufacturing facilities, Intellective boasts a total production capacity of 113,400 litres, making it the largest single‑plant biologics CDMO in China. The company has supported three approved commercial products and, according to its prospectus, ranked second in China in 2025 by number of commercialised products and third by revenue from therapeutic antibody drugs. Revenues for 2025 were RMB 484 million (USD 72 million), with a net loss of RMB 215 million. IPO proceeds are earmarked for significant capacity expansion, including new production lines for antibodies and ADCs.

PharmCube's PharmaGO® database shows that the company has five projects under review in China. Click here to request a free trial for PharmaGO®.