US Biotech Firm Plans Primary Listing in Hong Kong
San Diego-based Axiom Biosciences aims for a primary listing in Hong Kong in 2027, followed by a US listing in 2029. The company seeks access to Asia's growing investor base and market.
Axiom Biosciences, a San Diego-based developer of regenerative and genetic medicines, plans to pursue a primary listing on the Hong Kong Stock Exchange in 2027, with a secondary listing in the United States to follow in 2029. This move diverges from the typical path, where many Chinese companies historically opted for U.S. exchanges due to deeper capital markets.
Company founder and CEO Remo Moomiaie-Qajar stated that the Hong Kong listing will provide access to sophisticated, biotech-focused investors and bring the company closer to clinical and commercial partners in Asia. He noted that Hong Kong's stringent listing standards suggest a mature biotech ecosystem, and recent biotech listings in the city have outperformed those on Nasdaq.
The global biotech sector faces a challenging fundraising environment, with increasing costs for clinical trials. Public markets offer an alternative route for capital raising, especially as venture capital investors become more selective with large, late-stage investments.
Hong Kong has emerged as a significant hub for biotech financing, attracting numerous listings. However, local investors often favor companies with a clear China connection, seeking opportunities for co-development, manufacturing, or sales with Chinese partners. Axiom's strategic choice may position it advantageously within the evolving global biotech landscape.