HOCK LOCK SIEW

Covid-19 exposes SGX's lack of biopharmaceutical issuers

Many of the homegrown players that need to raise funds are still early-stage companies and are not mature enough for the IPO market

SINGAPORE-BASED biotech Cennerv Pharmaceuticals tried twice to list on the Singapore Exchange (SGX) but was forced to withdraw its initial public offer (IPO) due to weak demand.

At that time, a clearly disappointed chief executive officer Anil Ratty told shareholders in a statement:"The