(Yicai Global) Jan. 11 -- Chinese Covid-19 vaccine developer Cansino Biologics, which is already listed in Shanghai and Hong Kong, plans to sell global depository receipts on Switzerland’s Six Swiss Exchange to raise enough funds for its globalization strategy.

CanSino's Hong Kong stock [HKG:6185] advanced 3.8 percent to finish the day at HKD75 (USD9.60). Earlier in the day it surged 6.6 percent to hit HKD77. While its mainland shares [SHA:688185] closed down 0.6 percent at CNY151.10 (USD22.31) today. Earlier in the day they climbed 2.2 percent to CNY155.44.

Floatation in Switzerland will enhance CanSino's multi-channel financing ability, attract more overseas institutional investors and help the firm to go global, the Tianjin-based company said in a filing to the Hong Kong stock exchange yesterday. The application is still pending approval by Chinese and Swiss regulators.

CanSino is the developer of China’s first inhaled Covid-19 vaccine, which was given the greenlight for emergency use in the country in September last year. Since then the nasal spray has also been approved for use in other countries with certain conditions attached and has been included on the World Health Organization’s emergency use list.

Earlier this month the firm said that clinical trials have proven that its mRNA Covid-19 booster jab offers good protection against several major variants identified by WHO, producing up to 29 times more neutralizing antibodies against the omicron BA.5 strain than a group who received inactivated vaccines.

Founded in 2009, Cansino also develops jabs for tuberculosis, meningitis and other diseases. Its first breakthrough was a recombinant adenovirus vector vaccine against Ebola in 2017.

Editor: Kim Taylor