Biotech firm Mabpharm launches initial public offering in Hong Kong
The China-based biotechnology company, Mabpharm, has launched an initial public offering (IPO) in Hong Kong, China Money Network reports.
Mabpharm, who was first established in 2015, becomes the latest in a number of biotech companies that have filed for Hong Kong IPOs.
As the Hong Kong bourse changed its rules to allow the listings of biotech firms that don’t achieve the criteria of the Main Board’s financial eligibility tests in April, it has caused a selection of Chinese biotech companies, such as Ascentage Pharma Group and Hangzhou-based Ascletis Pharma to get involved.
The firm primarily targets the research, development and production of monoclonal antibody drugs in the fight against cancer and autoimmune diseases.
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Mabpharm currently has a number of drug candidates made up of nine monoclonal antibody drugs, which is thought to have consisted of 5.4% of the biologics market in China last year that is believed to be worth $1.7bn.
From 2013 to 2017, the firm announced in its IPO prospectus that the Chinese biologics market increased by 26.2% which was significantly higher than the 7.4% global growth during the same timescale.
Amobee Appoints Nick Brien As CEO
In its latest strategic move, Amobee—a global multimedia advertising leader—announced that Nick Brien will be its Chief Executive Officer. The company is entirely owned by Singtel, Asia’s leading communications technology organisation, which provides consumers with mobile, broadband, and TV and businesses with data hosting, cloud, network infrastructure, analytics, and cybersecurity tools.
Brien, who has worked for Microsoft, Intel, P&G, and American Express, will take over to drive the next generation of advertising tech. Said Evangelos Simoudis, Chairman of the Board of Amobee: ‘Nick has the deep expertise in advertising that we need to seize the market opportunities ahead’.
How Did Brien Get Here?
Before joining Amobee, Brien led 15,000 people across 40 divisions as CEO of the Americas for Dentsu International. For thirty years, he’s helped brands pilot unique advertisements, keeping up with the latest trends. He’s served as CEO of McCann Worldgroup, global CEO of IPG Mediabrands, President of Hearst Marketing Services, and CEO of iCrossing. Over the course of his career, he’s consistently strategised how to keep up with digital shifts. Now, he’ll capitalise on Amobee’s legions of experienced data scientists and developers.
‘I’m excited to be joining Amobee at such a transformative time in our industry’, Brien explained. ‘We’ll pilot advertising accountability and intelligent decisioning. And there’s no doubt in my mind that optimising media performance—whether you’re targeting, planning, buying, or delivering—can only be achieved using applied science, machine learning, and data analytics’.
What Does This Mean for Amobee?
Amobee is set on growing its personal brand within the advertising sector. As APAC social media influencers, Gen Z growth hackers, and viral content producers start to enter the field, established companies will be working doubly hard to keep up. Amobee, however, is still looking good. With a Gartner Magic Quadrant for Ad Tech, a Forrester New Wave recognition, and now, Nick Brien as CEO, the firm is set up for success.