Axiom plans Hong Kong IPO, hoping to carve new path for US biotechs

News Business Axiom plans Hong Kong IPO, hoping to carve new path for US biotechs July 21, 2026 | 3 min read | Gabrielle Masson Twitter LinkedIn Facebook Email Print Axiom Biosciences is thinking outside of the box, betting on a public debut in Hong Kong to raise capital and grow into a global company. Axiom Biosciences is planning an initial public offering, but not on the Nasdaq, as most U.S. biotechs opt for, or even on the New York Stock Exchange, where this year’s best-performing IPO, Veradermics, has climbed 552% from its initial opening price in February. Rather, Axiom is betting on a Hong Kong IPO to secure new capital—a move that would make it one of the first American biotechs to list on the city’s stock exchange.The San Diego–based company plans on going public next year, with hopes of raising “anywhere between $150 million to $200 million” to accelerate its regenerative medicines pipeline, CEO and founder Remo Moomiaie-Qajar told BioSpace.Moomiaie-Qajar formed the company eight years ago as Cytonus Therapeutics, rebranding last month as Axiom. The change was motivated in part by recent Phase 1 data for its lead asset, a stem cell therapy being developing alongside South Korea–based Medinno. The investigational therapy prevented death at one year for nine newborns with intraventricular hemorrhage (IVH) or hypoxic-ischemic encephalopathy (HIE). That compares to IVH’s historical 46% mortality rate after the first year of life, according to Axiom. “The announcement of the clinical trial results that came out earlier this week was essentially a trigger for us to not only rebrand, but a moment where we’re taking the company in a new direction, which is taking it public,” Moomiaie-Qajar said last Friday.Axiom is now outlining a proposal to set up shop on the Hong Kong Stock Exchange, where Moomiaie-Qajar believes the listing will be more advantageous than that of the current U.S. markets. The company has established ties to Asian companies, including co-developer Medinno and Seoul-based investor Partners Investment, the CEO noted, adding that unconventional strategies are the key to unlocking cash. Business Biotech IPOs surge in H1 of 2026, shattering records and doubling last year’s total After a sluggish 2025, biotech IPOs have roared back to life. Fueled by resilient stock performances and improving market sentiment, the total number of public debuts so far this year has already eclipsed 2025’s total. July 15, 2026 · 2 min read · Gabrielle Masson Read more “We’re just simply taking a contrarian perspective about the way in which we think about financing in general,” he explained. “Ultimately, we all have to think differently. It’s futile to go year after year after year to some of these conventions, see the same faces, and realize we’re all asking for the same thing from a handful of groups at the end of the day.”Money may be flowing to certain companies in the sector, Moomiaie-Qajar said, but most biotechs are “still struggling.”“For the last three or four years, it’s [been] incredibly hard to raise money privately,” he said. “And if there is money circulating back into biopharma, it’s really the haves and the have-nots. So, the companies that had money will get more. Companies that didn’t have money are still struggling.”To date, Axiom has raised $14 million in equity that is supplemented by eight non-dilutive grants. “We’ve not raised a lot of money versus our peers, and that’s fine,” Moomiaie-Qajar said.Over the years, the biotech has operated nimbly, reaching a maximum of 13 employees at its peak. In that time, Axiom has pushed forward several different umbilical cord-derived mesenchymal stem cell (MSC) candidates, while introducing new AI-designed cancer and autoimmune programs. The company is done with R&D work now, Moomiaie-Qajar said, and ready to expand based upon its existing eight assets.To do that—and grow into a global company—the biotech believes its best opportunity begins in Asia. IPO Hair loss biotech Veradermics, up 656% since its IPO, credits the obesity boom After debuting on the public markets with $256.3 million and raking in an additional $472 million, Veradermics has emerged as one of biotech’s biggest post-IPO standouts. CEO Reid Waldman credits the weight loss craze for establishing consumer-driven channels. July 6, 2026 · 5 min read · Gabrielle Masson Read more While the company doesn’t have any partners located in China yet, Moomiaie-Qajar said the team is actively engaging with potential collaborators in the area. “Our intention is to do more strategic deals while we move our assets into later-stage clinical studies,” he said.But Axiom isn’t writing off the U.S. route, instead hoping to eventually conduct a secondary U.S. public listing in the next few years. The biotech’s trials are run in the U.S. after all, and the company has secured two Rare Pediatric Disease Designations from the FDA.“It is an arrow in our quiver,” Moomiaie-Qajar said of a potential U.S. IPO. “We’re an American company. We can list any time.”Ultimately, Moomiaie-Qajar hopes Axiom can blaze a new trail that other U.S. biotechs can follow. “I think we’re here to essentially start a movement for other small companies like us, who get to a point where they just simply need to figure out ways to move forward.” Twitter LinkedIn Facebook Email Print IPO China Gabrielle Masson Gabrielle is a senior editor at BioSpace. You can reach her at gabrielle.masson@biospace.com.