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China-Focused Biotech LianBio Raises $325 Million in U.S. IPO

  • Company sold ADS for $16 each at midpoint of marketed range
  • Firm focuses on in-licensing treatments in China and Asia

Biotechnology firm LianBio raised $325 million in an initial public offering, according to a statement, potentially opening a narrow path for U.S. listings by companies operating primarily in China.

The company sold 20.3 million American depositary shares for $16 apiece after marketing them for $15 to $17, according to a statement Sunday. Each ADS represents one ordinary share.