China-based hyaluronic acid producer Bloomage Biotechnology has raised CNY2.4 billion (approximatelyUSD337 million) in its initial public offering (IPO) on the Shanghai Stock Exchange Star Market. The company sold approximately 50 million shares at CNY47.79 (USD6.80) per share. Bloomage is backed by China-focused growth capital investor Redview Capital, which did not dispose of any shares in the IPO.