Biokin has received Hong Kong Stock Exchange (HKEX) listing committee approval for an initial public offering (IPO), with Goldman Sachs, J.P. Morgan and CITIC Securities as joint sponsors. The China-based biopharma reported RMB 3.71 billion (USD 521 million) net profit in 2024 following an USD 800 million upfront payment from Bristol Myers Squibb (BMS) for EGFR/HER3 bispecific antibody-drug conjugate (ADC) izalontamab brengitecan, representing the largest single-asset transaction in ADC history. Biokin's revenue shifted from generic drug sales to licensing income, with pharmaceutical revenue declining to RMB 163.9 million in H1 2025 from RMB 701.8 million in 2022 reflecting the strategic transition to innovative biologics.

The company's pipeline features 15 clinical-stage assets, including nine ADCs and four multi-specific T-cell engagers, with seventy ongoing trials globally. Izalontamab brengitecan has five US trials and 10 Phase III studies in China, including seven breakthrough therapy designations (BTD), with a new drug application (NDA) under priority review for nasopharyngeal carcinoma.

According to PharmCube's MedAlpha® database, Biokin received two strategic investments before completing an IPO on the Shanghai Stock Exchange (SSE) STAR Market earlier this year. Click here to request a free trial for MedAlpha®.