创新药企业,如何通过“以旧换新”融资?

医药财经
Oct 03

二级市场投资者踊跃接盘,上市药企大股东们则一边套现数亿港元,一边巩固控制权,其秘诀就是“以旧换新”的资本运作。今年以来,港股生物医药板块再融资热潮涌动,多家创新药企采用“以旧换新”的配售方式融资。据不完全统计:2025年初至今,已有超过20家港股创新药企完成再融资,总金额超过340亿港元。其中,亚盛医药、歌礼制药、云顶新耀等企业均采用了“以旧换新”的配售方式,单笔融资动辄超过10亿港元。在这一过程...

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