Qyuns Therapeutics Co. Ltd (Ticker: 2509 HK) is a pharmaceuticals company based in China, specializing in the development of clinical-stage biologic antibody drugs for autoimmune and allergic diseases. The company plans to list its shares on the Hong Kong Stock Exchange on March 20, 2024. Qyuns Therapeutics aims to raise HKD 243.33 million (approximately USD 31.10 million) by offering 12.05 million shares. The expected price range for the IPO is HKD 20.20 per share. The offering is managed by a consortium including China Industrial Securities International, China International Capital Corp HK Securities, Essence International Securities Hong Kong, and Guotai Junan Securities (Hong Kong).

The company utilizes a rabbit-based discovery platform for its pipeline of nine candidates, aiming to offer more affordable solutions with better affinity and greater diversity than traditional mouse-based technologies. The IPO proceeds are intended to fund the development of Qyuns Therapeutics' portfolio, including their anticipated first approved drug, QX001S, a ustekinumab biosimilar aimed at treating psoriasis.