On Nov. 5th 2019, Shanghai Medicilon Inc. (Medicilon) announced an IPO on Sci-Tech Innovation Board at Shanghai Stock Market, abbreviated as “美迪西”, coded as “688202”. The stock price is ￥41.50 CNY per share and the total amount of shares is 15.5 million, which come up to the total capital of 643 million CNY. The fund raised in the stock will be used to boost its global capability and capacity. Furthermore, Medicilon would like to invest the net amount on establishing the new research technology for innovation drug discovery and development, GLP and GMP manufacture, supplying work capital and commercializing the business model .
“We will continue to provide the excellent services to our clients worldwide. With a goal of enabling more people to embrace the brightness of good health, we in Medicilon strives to innovate, for the success of new drug development!” Chunlin Chen Ph.D., Medicilon CEO, said in an IPO launch statement.