SinoMab raises HK$319m for drug development programs

SinoMab BioScience Limited raised approximately HK$318.8m through issuing 157.1m shares at HK$2.03 each on August 15, 2025.

The proceeds will fund R&D programs for drug candidates SM17, SM03 and others, including preclinical and clinical trial expenses. Funds will also support working capital and internal capability expansion, with full utilization expected by end-2027.

Additional subscriptions from two investors remain pending, expected by September 8, 2025.