Sanegene Bio Is Said to Target 2027 for Hong Kong Listing

Sanegene Bio Inc. is targeting next year for a Hong Kong initial public offering after confidentially filing for the deal, according to people familiar with the matter.

The clinical-stage biotechnology company, which focuses on RNA interference therapeutics for autoimmune, cardiovascular, obesity and metabolic diseases, is working with China International Capital Corp. and Morgan Stanley on an IPO that could raise a few hundred million dollars, the people said, asking not to be identified discussing confidential information.

Representatives for Sanegene Bio and Morgan Stanley declined to comment, while CICC didn’t respond to a request for comment.

Founded in 2021 , Sanegene Bio has proprietary platforms aimed at silencing disease-driving genes. In November, it announced a licensing and research collaboration with Eli Lilly & Co. to advance RNAi candidates for metabolic diseases. It followed that with a licensing agreement in February with Roche Holding AG’s Genentech unit.

The company, which has research and development operations in Boston, Shanghai and Suzhou, had initiated clinical trials for four experimental medicines as of August, its website shows.

Hong Kong has had an exceptionally strong year for IPOs with almost $50 billion raised so far, including in multibillion-dollar deals by Zhongji Innolight Co. and Luxshare Precision Industry Co. Biotech IPOs have raised more than $1 billion, led by Suzhou Ribo Life Science Co., which fetched about $270 million.