Chinese biotech Leads Biolabs successfully raised approximately $189 million in its Hong Kong stock exchange debut, with shares nearly doubling on the first day. The company plans to use proceeds primarily for clinical trials and manufacturing upgrades, with a focus on immune-oncology therapies including monoclonal and bispecific antibodies. Its portfolio spans blood cancers, solid tumors, and autoimmune diseases, highlighting its growth ambitions in both oncology and immunology spaces.