HanX Biopharmaceuticals Inc. (Ticker: 3378 HK) is a Chinese biotechnology company specializing in structural biology, translational medicine, and clinical development. The company is focused on creating next-generation immunotherapeutics for oncology and autoimmune diseases. Its pipeline includes one core product, HX009, a bifunctional anti-PD-1 antibody SIRP fusion protein currently in clinical trials for various cancers, as well as two key clinical-stage products, HX301 and HX044. HanX plans to list on the Hong Kong Stock Exchange on December 23, 2025.

The company aims to offer approximately 18.32 million shares at a price range of HKD 28.00 to HKD 32.00, targeting a raise of up to HKD 586.27 million (approximately USD 75.34 million). This valuation implies a market capitalization between HKD 3.81 billion and HKD 4.36 billion (roughly USD 490 million to USD 560 million). Reportedly, HanX intends to direct the vast majority of proceeds (85%) toward R&D and product capacity, with the remainder allocated to working capital and brand promotion. The IPO is sponsored by ICBC International, with a syndicate of underwriters including ABCI, CCB International, and others.