On April 28, Mabwell (stock code: 02493.HK) was officially listed on the Main Board of the Hong Kong Stock Exchange and was included in the Southbound Stock Connect on its first trading day, .becoming the first Chapter 18A biotech company to achieve an A-to-H listing — listing first on the A-share market and then on the Hong Kong Stock Exchange. The global offering consisted of a total of 47,130,200 H shares at an issue price of HK 27.64 pershare, raising gross proceeds of approximately HK 1.189 billion.

Dr. Liu Datao, Chairman, Executive Director, and General Manager of Mabwell, said: “Following our listing on the SSE STAR Market in January 2022, Mabwell’s successful listing on the Hong Kong Stock Exchange marks a new phase of accelerated leapfrog growth in our internationalization strategy. We will continue to focus on oncology and age-related diseases, adhere to original innovation, and meet the growing medical needs of patients worldwide.”

Tang Chunshan, Executive Director of Mabwell; Dr. Liu Detao, Chairman, Executive Director, and General Manager of Mabwell; and Bonnie Y Chan, CEO of HKEX

Since its establishment in 2017, Mabwell has received approval for four products and has out-licensed four innovative biologics. Its core asset, 9MW2821, is the second Nectin‑4–targeting ADC globally to enter pivotal Phase III clinical trials for urothelial carcinoma and the first globally for cervical cancer and triple‑negative breast cancer. Three Phase III trials are expected to undergo interim analysis in the second half of this year, and based on the results, the company plans to submit a pre‑NDA meeting request to the CDE of NMPA. The proceeds from this offering will be primarily used for the multi‑indication clinical trials of its core product 9MW2821 at various stages, R&D of other pipeline candidates targeting oncology and age‑related diseases with significant unmet medical needs, and product commercialization.