TransThera Sciences (HKG:2617) launched its initial public offering in Hong Kong that seeks to raise up to HK$200.9 million, according to a Friday Hong Kong bourse filing.

The clinical-stage biopharmaceutical firm is offering as much as 15,281,000 shares at an indicative price of HK$13.15 each.

TransThera secured five cornerstone investors, including Jiangbei Pharmaceutical, Akeso (HKG:9926), Sinohsc Honest, Pharmablock Horizon, and Kelingan, which committed to subscribe for a combined HK$130.0 million worth of IPO shares, representing around 64.1% of the offering.

The issuer expects to determine its offer price and disclose the allocations on June 20. It will then start trading on the Hong Kong bourse on June 23, according to a prospectus filing.

Proceeds from the deal will primarily fund a multiregional Phase III trial of its core product Tinengotinib, with remaining funds allocated to general working capital and corporate purposes.

CLSA, Huatai Financial, BOCOM International, BOCI Asia, CMB International, SPDB International, and TradeGo Markets are acting as joint bookrunners.