LongBio Pharma (Suzhou) Co., Ltd. (01779.HK) has launched its Hong Kong IPO. The offering period runs from May 28 to June 2, 2026. The company plans to globally offer approximately 14,193,150 H shares, subject to a 15% over-allotment option. The offer price is HK$96.06 per share, with a board lot size of 50 shares and an entry fee of approximately HK$4,851.44. The shares are expected to be listed on the Main Board of the Stock Exchange of Hong Kong on June 5, 2026. Sinolink Securities (Hong Kong) Company Limited is acting as the sole sponsor.

LongBio Pharma: Clinical-Stage Biopharmaceutical Company Focused on Allergy and Autoimmune Diseases

Offering structure: Hong Kong public offering approximately 10% (1,419,350 shares), international placing approximately 90% (12,773,800 shares).

Offer price: HK$96.06 per share; board lot size of 50 shares; entry fee of approximately HK$4,851.44.

Offering period: May 28, 2026 – June 2, 2026 (expected pricing date: June 2, 2026).

Listing date: June 5, 2026.

IPO sponsor: Sinolink Securities (Hong Kong) Company Limited.

Company Overview

LongBio Pharma (Suzhou) Co., Ltd. is a clinical-stage biopharmaceutical company focused on the in-house discovery and development of biologics for allergic diseases, including seasonal allergic rhinitis, chronic spontaneous urticaria and allergic asthma, as well as autoimmune diseases, including paroxysmal nocturnal hemoglobinuria and complement-mediated kidney diseases. The company’s pipeline includes its core product LP-003, an anti-IgE antibody, and key product LP-005, a bifunctional antibody fusion protein targeting C5 and C3b. Leveraging its high-affinity antibody discovery platform and bifunctional antibody development platform, the company has built a comprehensive biologics pipeline targeting multiple therapeutic areas, including otolaryngology, dermatology, respiratory medicine, hematology and nephrology. According to Frost & Sullivan, the global market for allergy therapeutics is expected to grow from US$68.8 billion in 2024 to US$111.4 billion by 2030.

Financial Information

According to the prospectus, LongBio Pharma recorded total comprehensive losses of approximately RMB137 million and RMB176 million in 2024 and 2025, respectively. During the same periods, R&D expenses were approximately RMB98 million and RMB127 million, respectively, of which the proportion attributable to the core product LP-003 increased from 58.7% to 78.2%. Based on the offer price of HK$96.06 per share, assuming the over-allotment option is not exercised, the company expects net proceeds of approximately HK$1.255 billion. The proceeds are expected to be primarily used for the R&D and commercialization of its core and key products (approximately 75.0%), including approximately 34.0% for the development of LP-003, approximately 13.0% for the commercialization of LP-003 in China for seasonal allergic rhinitis, approximately 28.0% for the development of LP-005, with the remainder allocated to other pipeline products, development of R&D platforms, and working capital replenishment.

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