Pharma group Aptorum announces SEC approval of US$30mn IPO

By BizClik Admin

Hong Kong-based pharmaceutical company Aptorum Group has announced approval from the US Securities and Exchange Commission (SEC) to launch its IPO on the NASDAQ Global Market

The firm is expected to go public officially under the APM symbol on 18 December 2018, with the potential for a valuation of up US$10-30mn. 

In its statement, the firm said the offering of up to 1,595,235 shares is expected to close on 12 December.

Aptorum’s business operations are focused on developing and commercialising therapies and diagnostic tools for what it called “unmet medical needs” in the press statement.

Capital Watch, in a report from October, gave more specific details, stating that Aptorum’s developmental focuses are on neurology, infectious diseases, oncology and gastroenterology among others.

See more:


Aptorum’s work remains in the preclinical stage, with Capital Watch noting that it is awaiting approval for human testing of its in-development drugs and devices.

In June this year, Aptorum opened a medical clinic focused on developing treatments for chronic ailments resulting from ageing populations modern lifestyles’ sedentary nature, Capital Watch added.

The firm’s website states that it has thus far acquired 11 exclusive technologies in the aforementioned clinical areas, as well as in surgical robotics and natural health.

Share

Featured Articles

Nirvik Singh, COO Grey Group on adding colour to campaigns

Nirvik Singh, Global COO and President International of Grey Group, cultivating culture and utilising AI to enhance rather than replace human creativity

How Longi became the world’s leading solar tech manufacturer

On a mission to accelerate the adoption of sustainable energy solutions, US$30 billion Chinese tech firm Longi is not just selling solar – but using it

How Samsung’s US$5billion sustainability plan is working out

Armed with an ambitious billion-dollar strategy, Samsung is on track to achieve net zero carbon emissions company-wide by 2050 – but challenges persist

UOB: making strides in sustainability across Southeast Asia

Sustainability

Huawei smartwatch goes for gold with Ultimate Edition

Lifestyle

How IKEA India plans to double business, triple headcount

Corporate Finance