Transcenta, a privately-owned, US-China-based integrated biopharmaceutical company, is in the process of marching ahead with an initial public offering (IPO) after receiving a USD 100m Series B+ funding this January, according to company Chief Executive Ofcer Dr. Xueming Qian and Executive Chairman Dr. Jonathan Zhao. 

The two co-founders said that the company is in crossover funding talks with potential investors, and aims to kick off the Hong Kong IPO at the end of this year. 

Its Hong Kong listing is expected to be completed in 2H21, according to Qian, who added that the company will consider a dual-listing on China's STAR Market after that. 

Transcenta is actively assessing it’s eligibility for a STAR Market listing as, according to the latest rules posted by China Securities Regulatory Commission (CSRC) on 30 April, overseas-listed companies with a certain market capitalization, of no less than CNY 200bn (USD 28bn) or over CNY 20bn but with global leading and proprietary technologies are encouraged to return to the bourse.

In the crossover round, Transcenta hopes to bring in both life science-focused investors as well as general funds with strong interests in biotechnology to build a comprehensive and competitive investor base that could support the company’s long-term development, said Qian. The deal size for the crossover funding will be around USD 100m, he added. 

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