Axiom Biosciences, which develops experimental therapies for newborns with severe brain injuries by using AI, is targeting at least US$200 million through an initial public offering (IPO) in Hong Kong in 2027, followed by a secondary listing in the US in 2029.
“Some of the most important science in the world is being built in the United States, but the way it gets funded hasn’t kept pace,” said Remo Moomiaie-Qajar, founder and CEO of Axiom, in a statement.
The company planned to list in Hong Kong “because that is where deep biotechnology capital and many of our own clinical partners increasingly are. This is about building Axiom as a global company from the start”, he added.
In an interview, Moomiaie-Qajar said healthcare companies that listed in Hong Kong have been, for the last several years, outperforming Nasdaq listings during the same period. Hong Kong was “more mature and understanding of how to handle publicly listed companies” in the sector, he said.
The company said it would be the first biotech firm operating in the US to list in Hong Kong.
Founded in 2018 and headquartered in San Diego, California, Axiom had raised US$17.17 million over 13 funding rounds, according to CB Insights.
