Keymed Biosciences initiates STAR Market listing process

Keymed Biosciences Inc. has officially initiated its process to list on the STAR Market in China, aiming to establish an A+H dual-listing platform alongside its existing Hong Kong listing. The company completed its IPO counseling filing on August 20, 2026.

Despite holding 3.24 billion yuan in cash and reporting a net profit of 1.218 billion yuan in the first half of the year, Keymed is pursuing this expansion to bolster its position as a global biopharmaceutical company. The move follows significant commercial success with its IL-4Rα monoclonal antibody, Kangruida, which saw sales grow 132% year-on-year in the first half of 2026.

Keymed is also advancing its global strategy through licensing deals and the 'NewCo' model. This includes a major deal with AstraZeneca for the Claudin18.2 ADC CMG901 and the successful spin-off and acquisition of Ouro Medicines, which was acquired by Gilead Sciences and Lakefront for up to $2.1 billion.