HanchorBio Inc. (TPEx: 7827), a Taiwan-headquartered clinical-stage immunotherapy company with offices in Shanghai and the San Francisco Bay Area, priced its IPO at NTD 120 per share ahead of its May 29 debut on the Taiwan Innovation Board, with OrbiMed joining as a named strategic investor in an oversubscribed offering. The raise gives the company a post-IPO cash and credit position of approximately USD 140 million to fund clinical and business development activities across its pipeline of Fc-based fusion proteins targeting innate and adaptive immune checkpoints.
HanchorBio issued 9.4 million new common shares in its pre-listing capital increase, of which 10% were reserved for employee subscription and the remaining 8.46 million shares were placed through bookbuilding. The final price of NTD 120 per share was set at the midpoint of the NTD 110 to NTD 130 indicative range, implying gross proceeds of approximately NTD 1.13 billion (roughly USD 35 million). Cathay Securities served as lead underwriter. The company released approximately 6% of listed share capital, citing a stated objective of limiting dilution to existing shareholders. No overallotment option was disclosed in the filing.
OrbiMed was the only named institutional participant in the bookbuilding, identified in the press release as a strategic investor. Prior private financing rounds and the founding syndicate were not disclosed in the filing. Following the offering, the company reported approximately USD 140 million in combined cash and available bank credit facilities.
Company background
Founded in 2020, HanchorBio is a clinical-stage biotechnology company developing multi-functional biologics for oncology and autoimmune diseases using its proprietary FBDB (Fc-based designer biologics) platform. The platform is designed to produce fusion proteins that simultaneously engage multiple immune pathways, with structural control over safety, exposure, and manufacturability. The company's lead asset, HCB101, is a SIRPα–IgG4 Fc fusion protein that blocks the CD47–SIRPα innate immune checkpoint. HCB101 holds US FDA Orphan Drug Designation for gastric cancer and is in Phase I development for relapsed/refractory non-Hodgkin lymphoma and in a Phase Ib/IIa combination study with ramucirumab and paclitaxel in advanced gastric cancer. The company stated that early combination data in second-line gastric cancer showed a 100% confirmed partial response rate in six evaluable patients, though this figure was disclosed in post-filing conference presentations rather than in the IPO filing itself.