EQS-Adhoc

HBM portfolio company Ambrx Biopharma raises USD 126 million in initial public offering on New York Stock Exchange

EQS Group-Ad-hoc: HBM Healthcare Investments AG / Key word(s): IPO HBM portfolio company Ambrx Biopharma raises USD 126 million in initial public offering on New York Stock Exchange 21-Jun-2021 / 06:45 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ambrx Biopharma (NYSE: AMAM), a private company in the portfolio of HBM Healthcare Investments, completed its initial public offering on the New York Stock Exchange last Friday. The company raised USD 126 million in new capital through the issuance of 7 million American Depository Shares (ADS) at a price of USD 18.00 per ADS. On the first trading day, the shares closed slightly lower at USD 17.05 (-5.3%).

HBM Healthcare Investments invested USD 20 million in Ambrx in November 2020 and increased its stake by a further USD 14.4 million in the IPO. After the IPO, HBM Healthcare Investments holds 2.54 million ADS with a total value of USD 43.25 million.

Ambrx Biopharma is developing a novel class of engineered precision biologics using a proprietary genetic code technology platform that allows it to incorporate, in a site-specific manner, synthetic amino acids into proteins within living cells, which the company believes could offer safety and efficacy benefits over conventional conjugation approaches which use natural amino acids. The company's lead candidate, ARX788, is an antibody-drug conjugate currently being studied in breast, gastric and other solid tumors. The most advanced trial of ARX788 is being conducted by Ambrx Biopharma's partner, NovoCodex Biopharmaceuticals, in China in patients with HER2-positive metastatic breast cancer. In addition, the company has clinical collaborations with Bristol Myers Squibb, Astellas, BeiGene, Sino Biopharma, Elanco and NovoCodex, for drug candidates generated using Ambrx technology.

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About HBM Healthcare Investments

HBM Healthcare Investments invests in the healthcare sector. The Company holds and manages an international portfolio of promising companies in the human medicine, biotechnology, medical technology and diagnostics sectors and related areas. Many of these companies have their lead products already available on the market or at an advanced stage of development. The portfolio companies are closely tracked and actively guided in their strategic direction. This is what makes HBM Healthcare Investments an interesting alternative to investments in big pharma and biotechnology companies. HBM Healthcare Investments has an international shareholder base and is listed on SIX Swiss Exchange (ticker: HBMN).