Backed by Qiming Venture Partners, the allergy and autoimmune disease specialist advances commercialisation of its anti IgE and complement targeting pipeline following a strong IPO market debut.
LongBio Pharma, a portfolio company of Qiming Venture Partners and a leading innovative drug developer for allergic and autoimmune diseases in China, listed on the Hong Kong Stock Exchange on June 5, 2026 Beijing time, marking the seventh IPO for Qiming Venture Partners this year. LongBio Pharma (01779.HK) issued its shares at a price of HK$96.06 per share and opened at HK$144.30 per share with a market capitalization of HK$10.7 billion.
Qiming Venture Partners invested in the B2 round of financing of LongBio Pharma as the lead-investor in 2024 and invested in the C round as the co-lead-investor in 2025. Before the IPO, Qiming Venture Partners held a 4.27 percent stake in LongBio Pharma as one of its major institutional investors.
Founded in 2020, LongBio Pharma focuses on in-house discovery and development of biopharmaceuticals targeting on allergic and autoimmune diseases. Its founding team has rich experience in its field and has achieved outstanding results in discovery of drugs, clinical development, and registration procedures. Dr. Sun Naichao, co-founder of LongBio Pharma, is the key original inventor of omalizumab, the world’s first pioneering anti-IgE antibody. He has been devoting himself to the allergic diseases for decades and is a pioneering scientist in development of drugs for allergic diseases. Dr. Liu Heng, co-founder, Chairman and CEO of the firm, has over 15 years of experience in research and development and commercialization of biopharmaceutical drugs and has played a pivotal role in both domestic and international programs of development of several innovative drugs.
LongBio Pharma has developed a comprehensive product pipeline for biologic treatments targeting rhinology, dermatology, respiratory, hematology, nephrology and other autoimmune diseases. The firm’s core product LP-003 is a novel anti-IgE antibody. Its main function is to block free IgE in the blood and tissues and thus inhibit the occurrence of IgE-mediated allergic reactions. According to the top-line results, LP-003 exhibited significantly better efficacy than omalizumab in the treatment of chronic spontaneous urticaria (CSU). LP-005, a major product of LongBio Pharma, is a novel bi-functional complement antibody-fusion protein targeting both C5 and C3b, has leading potential globally, and shows therapeutic potential compared with single-target complement inhibitors.
“In 2024, omalizumab was approved in the United States, opening up commercialization opportunities. The prevalence of allergic diseases such as allergic rhinitis, asthma, and chronic urticaria has been rising in China. Based on clinical needs, technical barriers, team strength, and market inflection points, Qiming Venture Partners chose to invest in LongBio Pharma. The listing of LongBio Pharma is a key milestone for the company’s transition from the laboratory to commercialization, and the firm is expected to grow into a leading enterprise in the field of allergic diseases in China. LongBio Pharma is also an original innovation investment made by Qiming Venture Partners during the medical capital winter, which confirms Qiming Venture Partners’ resilience in navigating through industry cycles and its independent judgment ability for projects. Qiming Venture Partners will continue to focus on addressing unmet clinical needs and always pursue investments in cutting-edge medical innovation with global competitiveness,” Dr. Kan Chen, a partner of Qiming Venture Partners and the co-lead of the Qiming’s investments in the healthcare sector, said.