An offering could come amid a frenzy of share sales in Hong Kong led by Chinese technology and health care companies. Investor interest surged as the coronavirus pandemic shone a spotlight on demand for these sectors in the world’s second largest economy.
Brii, founded in early 2018, has headquarters in China and the U.S., according to its website. It raised US$260 million from funds including ARCH Venture Partners, Sequoia Capital, 6 Dimensions Capital, Boyu Capital, Blue Pool Capital and Yunfeng Capital, which was co-founded by billionaire Jack Ma. Brii has partnerships with Alibaba Health Information Technology Ltd., WuXi AppTec Co. and Vir Biotechnology Inc.
Brii’s treatment pipeline targets infectious diseases such as hepatitis B and tuberculosis. It’s also seeking to develop treatments for central nervous system diseases. In March, Brii announced a partnership with Tsinghua University and a hospital in Shenzhen to develop antibodies against Covid-19.
Moncef Slaoui, a former GlaxoSmithKline Plc executive, was one of the biotech firm’s strategic advisers until this year when he was appointed to oversee the White House’s coronavirus vaccine project.
Considerations for the initial share sale are still preliminary and details such as the size and timing could still change, the people said. A representative for Brii declined to comment on whether the company is planning an IPO.
