· Initiated and completed dosing in pharmacokinetic (PK) study of mavacamten in healthy Chinese volunteers
· Initiated Phase 2a clinical trial of infigratinib in Chinese patients with gastric cancer and other advanced solid tumors
· Strengthened leadership team with appointment of scientific and commercial executives
· Completed initial public offering for gross proceeds of approximately $334.5 million, providing cash runway through 2023
December 9, 2021 ，LianBio (Nasdaq: LIAN), a biotechnology company dedicated to bringing innovative medicines to patients in China and other major Asian markets, today provided a corporate update and reported financial results for the third quarter ended September 30, 2021.
“Over the past several months, the LianBio team has achieved multiple meaningful milestones, including initiating our first clinical trial, completing dosing in our first PK study and successfully completing our initial public offering,” said Yizhe Wang, Ph.D., Chief Executive Officer of LianBio. “In the year ahead, we intend to continue to advance our pipeline of innovative medicines and expect to initiate four pivotal studies to support regulatory approval in our territories. I’m confident we have the leadership and expertise at hand, as well as the capital resources necessary to deliver on our commitment to bring transformative medicines to patients across Asia.”
Recent Business Highlights and Clinical Development Updates:
Initiated and completed enrollment and dosing in pharmacokinetic study of mavacamten
· In November, LianBio initiated and completed enrollment and dosing in a pharmacokinetic (PK) study of mavacamten in healthy Chinese volunteers.
Initiated Phase 2a clinical trial of infigratinib in gastric cancer and other advanced solid tumors
· In August, LianBio announced that the first patient was dosed in a Phase 2a clinical trial of infigratinib in locally advanced or metastatic gastric cancer or gastroesophageal junction adenocarcinoma with fibroblast growth factor receptor-2 (FGFR2) gene amplification and other advanced solid tumors with FGFR genomic alterations.
Appointed two independent directors to LianBio Board of Directors
· In October, LianBio appointed Jesse Wu to the Company’s Board of Directors. Mr. Wu is the former Chairman of Johnson & Johnson China.
· In October, LianBio appointed Susan Silbermann to the Company’s Board of Directors. Ms. Silbermann is the former Global President, Emerging Markets at Pfizer.
Strengthened LianBio leadership team with key China-based hires
· In October, LianBio appointed Michael Humphries, MBBS as Chief Scientific Advisor to guide the Company’s research and development (R&D) strategy, advance the Company’s pipeline, and lead assessment of new in-licensing opportunities.
· In August, LianBio appointed Pascal Qian as China General Manager to build out the Company’s operations and commercial infrastructure.
Completed Initial Public Offering
· In November, LianBio completed an initial public offering (IPO) of its ordinary shares through the sale and issuance of 20,312,500 American Depositary Shares (ADSs) at a public offering price of $16.00 per ADS. Following the close of the IPO, pursuant to the partial exercise of their option to purchase additional ADSs, the underwriters purchased an additional 593,616 ADSs at the IPO price of $16.00 per ADS.
· LianBio received gross proceeds of $334.5 million in connection with the IPO and subsequent exercise of the underwriters’ option and aggregate net proceeds of $311.1 million after deducting underwriting discounts and commissions.
2022 Key Anticipated Milestones
Mavacamten
Bristol Myers Squibb (BMS)-partnered cardiac myosin inhibitor in development for the treatment of hypertrophic cardiomyopathy and certain forms of heart failure
· LianBio expects to initiate the Phase 3 EXPLORER-CN trial of mavacamten ...
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