Minsheng Life-backed oncology drug developer Zelgen has priced an initial public offering set to value it at more than $1.1bn.

China-based oncology therapy developer Suzhou Zelgen Biopharmaceuticals has priced a $294m initial public offering that could allow insurance provider Minsheng Life to exit, DealStreetAsia reported today, citing a company statement. The offering is set to consist of 60 million shares priced at RMB33.76 ($4.90) each on the Shanghai Stock Exchange’s Star Market, valuing the company…

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