Visen Pharmaceuticals Files for $86.5 Million IPO in Hong Kong

Visen Pharmaceuticals, a China-based biotech company focused on endocrine diseases, has filed for an initial public offering (IPO) on the Hong Kong Stock Exchange. The company aims to raise $86.5 million, with expected gross proceeds of $100 million, according to regulatory filings dated March 20, 2025.

Company Background and Funding

Visen Pharmaceuticals was formed in 2018 as a joint venture between Ascendis Pharma and an investor syndicate led by Vivo Capital. The company's primary focus is on developing and commercializing Ascendis' endocrinology therapies in the greater China region.

Prior to the IPO filing, Visen had successfully raised approximately $190 million in private funding. This includes a significant $150 million Series B financing round completed in early 2021, which saw participation from notable investors such as OrbiMed, Logos Capital, Ascendis Pharma, Vivo Capital, and Sofinnova Investments.

Pipeline and Development Programs

Visen's pipeline currently consists of three main programs targeting various endocrine disorders:

1. Yorvipath (palopegteriparatide): Developed for adults with chronic hypoparathyroidism.
2. Skytrofa (lonapegsomatropin): Aimed at treating pediatric growth hormone deficiency.
3. Navepegritide: An investigational prodrug of C-type natriuretic peptide for achondroplasia.

These programs represent Visen's commitment to addressing unmet needs in endocrinology across the Chinese market.

Market Impact and Future Outlook

The IPO filing marks a significant milestone for Visen Pharmaceuticals and reflects growing investor interest in the Chinese biotech sector. As the company moves forward with its public offering, industry observers will be closely watching its performance and the potential impact on the broader endocrinology market in China.

With its strong financial backing and focused pipeline, Visen is well-positioned to capitalize on the growing demand for innovative endocrine therapies in one of the world's largest pharmaceutical markets.