Investing.com-- Duality Biotherapeutics Inc (HK: 9606 ), a Shanghai-based biotech firm specializing in antibody-drug conjugates (ADCs), saw its share price more than triple in its Hong Kong trading debut on Tuesday.

The stock opened at HK$182.20, significantly above the IPO price of HK$94.60, and reached as high as HK$222 on Tuesday.

It was trading at HK$206.80 as of 03:13 GMT.

Duality raised nearly $213 million by selling 17.3 million shares at the bottom of the HK$94.60 to HK$103.2 price range.

The company, established in 2019, has developed a pipeline of internally discovered ADCs, with half currently in clinical trials.

Duality has partnered with BioNTech SE (NASDAQ: BNTX ) on two core ADCs, for endometrial cancer, which is expected to file for accelerated approval by 2025.