Radiopharmaceutical Company Lanacheng Biotech Files Hong Kong IPO with 3.291 Billion Yuan Valuation

Lanacheng Biotech, a radiopharmaceutical company focused on oncology diagnostics and treatment, recently filed for a main board listing on the Hong Kong Stock Exchange, with China International Capital Corporation serving as exclusive sponsor, according to the company's prospectus.

The Yantai-based company has completed four rounds of external financing since its 2021 founding, achieving a post-funding valuation of 3.291 billion yuan following its Series C financing in 2025. Lanacheng currently has 13 candidate drugs in development, including 7 diagnostic and 6 therapeutic radiopharmaceutical products, with four core candidates in late-stage clinical trials. The company is one of few Chinese biotech firms simultaneously developing diagnostic and therapeutic nuclear medicines across popular targets including PSMA and FAP.