en.Wedoany.com Reported - June 5, 2026, Shanghai – LongBio Pharma, an innovative drug developer and a portfolio company of Qiming Venture Partners, successfully listed on the Hong Kong Stock Exchange (HKEX) with stock code 01779.HK. The company set its IPO price at HK$96.06 per share, opened at HK$144.30 per share, and achieved a market capitalization of HK$10.7 billion upon listing. This marks the seventh IPO for Qiming Venture Partners this year.
Founded in 2020, LongBio Pharma focuses on the internal discovery and development of biopharmaceuticals for treating allergic and autoimmune diseases. The founding team has extensive experience in drug discovery, clinical development, and regulatory processes. Co-founder Dr. Sun Naichao is a key original inventor of the world's first anti-IgE antibody, omalizumab, with decades of deep research in allergic diseases. Co-founder, Chairman, and CEO Dr. Liu Heng has over 15 years of experience in biopharmaceutical R&D and commercialization, leading multiple innovative drug development projects both domestically and internationally.
Qiming Venture Partners led LongBio Pharma's Series B2 financing round in 2024 and co-led its Series C financing round in 2025. Prior to the IPO, Qiming Venture Partners held a 4.27% stake in the company, making it one of its key institutional investors.
LongBio Pharma has established a pipeline of biotherapeutic products covering areas such as rhinology, dermatology, respiratory medicine, hematology, and nephrology. Its core product, LP-003, is a novel anti-IgE antibody that inhibits allergic reactions by blocking free IgE in the blood and tissues. Based on top-line results, this drug has demonstrated superior efficacy compared to omalizumab in treating chronic spontaneous urticaria (CSU). Another major product, LP-005, is a novel bifunctional complement antibody fusion protein targeting C5 and C3b, showing greater therapeutic potential compared to single-target complement inhibitors.
Dr. Kan Chen, Partner and Co-Head of Healthcare Investments at Qiming Venture Partners, stated that the approval of omalizumab in the U.S. opened up commercial opportunities, while the prevalence of allergic rhinitis, asthma, and chronic urticaria in China is rising year by year, creating significant market demand. Based on clinical needs, technological barriers, team strength, and market inflection points, Qiming Venture Partners chose to invest in LongBio Pharma. Dr. Chen noted that the company's listing marks a key milestone in its transition from the laboratory to commercialization, positioning it to become a leader in China's allergic disease field. He also pointed out that this investment represents Qiming Venture Partners' commitment to original innovation amid the healthcare capital winter, validating its resilience through industry cycles and project judgment capabilities.
Founded in 2006, Qiming Venture Partners currently manages 11 U.S. dollar funds and 7 RMB funds, with total assets under management of US$9.5 billion. Since its inception, the firm has focused on early-stage and growth-stage investments in the technology and healthcare sectors, having invested in over 580 innovative companies, of which more than 210 have exited via IPOs or M&A, and over 80 have become unicorns or super unicorns.
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