Tianjing bio will be listed in the us with a valuation of US $800 million

In the world's major stock index markets, mainland biotech companies prefer US stocks when listing In 2019, 34 Chinese mainland and Hong Kong companies were listed in the US stock market, raising US $3.643 billion The number and amount of IPOs decreased by 13% and 62% respectively compared with 2018 In 2020, domestic enterprises have also started a new round of listing in the United States, and Tianjing biology has become the first U.S stock this year This is the valuation given to Tianjing bio by the US stock market of US $800 million How can Tianjing bio, without any product listed, get the overvalued value of US $800 million? This has a lot to do with the valuation structure of US stock From the first day, Tianjing biology has made great strides on the road of innovation The predecessor of Tianjing biology, Sanjing biology, was jointly founded by Dr Zang Jingwu, tag medicine and baijiahui precision medicine, and then became Tianjing biology in 2016 after reorganization In 2017, Tianjing biology merged with tianshizhen founded by Kangqiao capital, Tianshili and genexine, a Korean listed company At present, Tianjing biology has gathered a group of teams with global R & D and management experience who have been engaged in the field of new drugs for many years The company is headquartered in Shanghai and has business branches in Beijing and the United States The accumulated financing is more than $420 million In 2016, the first round of $43 million financing was completed In March 2017, Tianjing biology and tianshizhen biology merged In September 2017, the B round of $150 million financing was completed In June 2018, the C round of $227 million financing was completed At present, the company's major public shareholders include Kangqiao capital, Tianshili capital, Zang Jingwu, etc In 2015, Sanjing Biology (the predecessor of Tianjing Biology) was established, and tiger medicine and baijiahui were the early investors of Sanjing biology In 2016, Tianjing biology established and completed round a financing led by Jianqiao capital In 2017, Tianjing biology and tianshizhen merged to establish the current Tianjing biology, and successfully completed the B round of financing of 150 million US dollars This round of financing was led by Kangqiao capital, followed by Tianshili, the former shareholder of tianshizhen, and genexine company of South Korea In June 2018, Tianjing biology completed round C financing of US $220 million, led by Hony investment, with Hillhouse capital, Hopu capital, CDH investment, Huiqiao capital, Singapore Economic Development Bureau and Kangqiao capital, the original shareholders of the company, and Tianshili According to its prospectus, its global pipeline consists of three types of molecules: (1) monoclonal antibodies, (2) antibody cytokine fusion molecules (immune cytokines), and (3) bispecific antibodies These molecules have the potential to become tumor innovative drugs through differential mechanism of action, and enter the clinical development stage in the United States in 2019 In China, the R & D pipeline includes four core drugs under research Currently, there are candidate drugs that have entered or are about to enter the clinical phase II and phase III trials It is expected that the biological product license (BLA) will be successively obtained from 2021 These core drugs in research have the potential of "Global Initiative" and "best in class", and act on clinically proven drug targets They have successfully passed clinical phase I and phase II trials in Europe and other regions, and the test data show that they have good safety tolerance and preliminary effectiveness (clinical phase II products), thus greatly reducing the continuous development of these candidates The risk of drugs At the end of last year, foreign biotechnology website Gen recently released the list of "top 10 start-ups in global immunooncology 2019", ranking by total assets raised through private financing, cooperative income and IPO In this list, Tianjing biology is the only immunooncology start-up in China,