Axiom Biosciences intends to proceed with a public offering in Hong Kong rather than returning to private fundraising, the company said following a Tuesday announcement. CEO Dr. Remo Moomiaie-Qajar told Investing.com that encouraging clinical trial results for Axiom's lead program justify taking the company to market now.
The San Diego-based clinical-stage biotechnology company revealed plans this week to seek a primary listing on the Main Board of the Stock Exchange of Hong Kong (HKEX), with a secondary listing in the United States to be completed at a later date. The initial public offering is currently expected in 2027, and its timing and completion remain subject to regulatory review.
Moomiaie-Qajar framed the choice of Hong Kong as a strategic response to Axiom's Asia-focused clinical partnerships and its broader ambition to establish a global biotech platform from the outset. "We have strategically selected a Hong Kong listing as our initial step, leveraging our established initiatives and partner relationships across Asia," he said, adding that a subsequent U.S. secondary listing is planned to broaden the investor base over time.
The CEO emphasized that Axiom favors public markets over another private financing round in order to accelerate development. Management intends to move quickly from positive results in two rare pediatric indications into larger adult opportunities, a transition that the company says requires substantial capital on an accelerated schedule.
Specifically, Axiom plans to extend its lead program into adult ischemic and hemorrhagic stroke. According to management, entering the public markets now will better position the company to "strategically expand our clinical pipeline and fund the clinical entry of our deep preclinical portfolio."
The company is reported to be targeting a capital raise in the range of $150 million to $200 million, though Moomiaie-Qajar declined to confirm that figure. He said proceeds from the IPO would be directed to advance the firm's lead assets through clinical development and toward a potential Biologics License Application submission, while cautioning that "the target valuation and total proceeds remain speculative at this stage."
Axiom also cited its collaboration with South Korean partner Medinno Inc. as a factor in selecting Hong Kong. Moomiaie-Qajar described Medinno as Axiom's sole announced partnership in the region, and said the company is actively developing additional opportunities across Asia.
Looking ahead, the CEO indicated that Axiom plans to pursue key regulatory milestones and to move its lead assets into subsequent clinical phases ahead of the planned listing. He suggested that a successful Hong Kong debut could demonstrate Hong Kong's potential to attract U.S. biotechnology companies to list there and might prompt other American biotechs to reconsider traditional financing routes.
“Because our collective purpose is to bring novel treatments to market to serve humanity, companies should be open to rethinking traditional approaches to biopharmaceutical financing,” Moomiaie-Qajar said.
Strategic context and next steps
- Axiom is prioritizing a primary HKEX Main Board listing with a later U.S. secondary listing to diversify its investor base.
- The company plans to use public-market proceeds to accelerate clinical development, including advancing toward a potential BLA submission.
- An IPO is expected in 2027, but the timing and completion depend on regulatory review and other customary conditions.
Operational focus
Management has signaled an immediate focus on expanding the lead program from rare pediatric indications into adult ischemic and hemorrhagic stroke. That expansion is cited as a primary driver for choosing public financing now rather than pursuing further private rounds.