Arnold Pharmaceuticals Sprints To Nasdaq

Adlai Nortye Ltd. officially submitted the F-1 document to the US Securities and Exchange Commission (SEC) on July 27, 2023, Eastern Time, planning to list on Nasdaq through American Depositary Shares (ADS) under the stock code "ANL". Cantor and CITIC CLSA acted as joint lead underwriters.

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The submission of documents by Adlai Nortye means that after nearly half a year, Adlai Nortye will become the first Chinese quasi-unicorn/unicorn company that plans to go public in the United States through ADS.

Adlai Nortye was listed on the New Third Board in January 2017 and then delisted in March 2018. It submitted the listing application materials to the Hong Kong Stock Exchange for the first time on July 20 last year. However, due to the invalidation of the financial audit report, this plan is currently "on hold".

Adhering to the mission of "turning cancer into a chronic disease and even curing it", Adlai Nortye is focused on developing differentiated and innovative oncology therapeutics, with a current pipeline of six drug candidates - three clinical-stage candidates: AN2025 (buparlisib), AN0025 (palupiprant) and AN4005, and three additional preclinical candidate drug.

Adlai Nortye stated in the prospectus that the net proceeds from the IPO will be mainly used for ongoing and potential research and development processes, the expansion of the drug portfolio through a combination of internal research and development and external development, and working capital and general corporate purposes.

At present, Adlai Nortye has assembled the world's top leaders and R&D teams, has a unique drug development technology platform, and has cooperated with many global pharmaceutical companies. Through joint innovation and independent research and development, it has successfully built multiple global product pipelines, currently covering more than 10 anti-tumor drug candidates.

 


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