IPO Roundup: Passage Bio lone IPO this week; Chinese medical education platform Zhongchao begins trading

The preclinical central nervous system-focused biotechnology company hopes to raise $126 million

Golden bull emerging from the word 'IPO'
Zhongchao, based in Shanghai, raised $12 million by offering 3 million shares at $4 per share

Passage Bio Inc (NASDAQ:PASG), a preclinical biotechnology company focused on central nervous system disorders, is targeting a $126 million IPO. 

The Philadelphia-based company is offering 7.4 million shares at a price between $16 and $18 per share. 

Passage Bio recently launched a strategic research collaboration with the Trustees of the University of Pennsylvania's Gene Therapy Program.

Opened trading

Zhongchao Inc (NASDAQ:ZCMD), an online medical information platform in China, raised $12 million by offering 3 million shares at $4, the low end of its projected $4-$4.50 range.

The Shanghai-based company offers online and onsite health information services, healthcare education programs and healthcare training products. Its content includes clinical practice training, open classes of popular medical topics, interactive case studies, academic conferences and workshops, continuing education courses, articles and short videos.

Shares opened higher at $4.34 but have slipped to $3.85, 3.7% below its IPO price.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

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