Eli Lilly-backed inflammatory disease drug developer has filed to raise up to $100m in an initial public offering in the United States.

China-based inflammatory disease drug developer Connect Biopharma Holdings has filed for a $100m initial public offering on the Nasdaq Global Market that would allow pharmaceutical firm Eli Lilly to exit. Connect Bio is developing therapeutics to treat T cell-driven inflammatory diseases, and its drug candidates include CBP-201, for inflammatory diseases like atopic dermatitis or asthma;…

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