On February 2, 2016, BeiGene, which focuses on the discovery and development of innovative cancer drugs, successfully listed on the New York Stock exchange. The listing was the first IPO of the year in the US, raising $158 million. The proceeds will be used to help fund the company’s next stage of clinical trials.
Hillhouse first invested in the company in 2014 in a Series-A investment, believing in the tremendous potential of the company to develop breakthrough cancer treatments.
The listing marked a major step in the development of BeiGene, which was co-founded by John Oyler and Dr. Xiaodong Wang. The success of the IPO in the midst of a difficult environment for global markets was a testament to the strength of the company’s management team and long-term strength.