Backing from BioNTech powers ADC specialist DualityBio toward $200M Hong Kong IPO

CAR-T Digest - August 2020

07 Apr 2025: Backing from BioNTech powers ADC specialist DualityBio toward $200M Hong Kong IPO

DualityBio has officially launched its IPO in Hong Kong, aiming to raise up to $200 million to support its antibody-drug conjugate (ADC) pipeline
The biotech previously filed for a Hong Kong listing but let the submission lapse before refiling earlier this year with new partnerships in place
BioNTech, along with other cornerstone investors, has committed $65 million, accounting for about one-third of the fundraising target
The IPO is happening despite broader market uncertainty influenced by global trade tensions, including those tied to U.S. tariffs
With new backing from partners like GSK, in addition to existing collaborators BeiGene and Adcendo, the company is strengthening its position ahead of the finalized listing