Why one U.S. biotech firm is listing in Hong Kong before Wall Street
Axiom Biosciences, a U.S.-based biotech firm, plans to list its shares in Hong Kong before the U.S. to access specialized investors and a mature biotech market. The company cites the city's strong performance in biotech indices as a key driver for this contrarian strategy.
Why it matters
This move signals a potential shift in global capital flows for the biotech sector, challenging the dominance of U.S. markets for life science funding.
For years, Chinese companies such as Alibaba and Baidu headed to the U.S. to list their shares, citing its deeper capital markets and higher valuations. Now, one American biotech firm is betting on doing the opposite.
Axiom Biosciences, a San Diego-based developer of regenerative and genetic medicines, plans to go public in Hong Kong in 2027, followed by a secondary U.S. listing in 2029. The company says the "contrarian" move will open the door to sophisticated, biotech-focused investors while bringing it closer to clinical and commercial partners across Asia.
"Some of the most important science in the world is being built in the United States, but the way it gets funded hasn't kept pace," said Remo Moomiaie-Qajar, founder and CEO of Axiom.
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