We advised the placing agent on the placement and the top-up subscription

Davis Polk advised the sole placing agent on the placing of 52,400,000 shares in Ascletis Pharma Inc. for an aggregate consideration of HK$861.98 million, which is inclusive of the top-up subscription of 28,820,000 new shares for an aggregate consideration of HK$474.09 million.

Ascletis Pharma is a fully integrated biotechnology company focused on the development and commercialization of potential best-in-class and first-in-class therapeutics to treat metabolic diseases. Ascletis is listed on the Hong Kong Stock Exchange under the symbol 1672.HK.

The Davis Polk corporate team included partner Xuelin (Steve) Wang, counsel Vanessa Chan and Wendy Kan and associate Marco Cheng. All members of the Davis Polk team are based in the Hong Kong office.

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