News Snapshot:
By Ben Otto Eli Lilly & Co.-backed biopharmaceutical company Transcenta Holding Ltd. has filed for an initial public offering in Hong Kong, the latest in a wave of Chinese early-stage biotech businesses seeking listings in the Asian financial hub. The Suzhou, China-based company intends to use the offering proceeds to develop its pipeline of drug candidates focused on oncology, nephrology and bone diseases, it said in a filing to the Hong Kong bourse on Tuesday. It didn't specify a timeline nor say how much it intends to raise. Transcenta has nine drug candidates in clinical development, including its core product...
