CANbridge Pharmaceuticals HK$685 million IPO
We advised CANbridge Pharmaceuticals on its IPO and HKEX listing
Davis Polk advised CANbridge Pharmaceuticals Inc. in connection with its initial public offering and listing on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A and Regulation S. The gross proceeds from the offering amounted to approximately HK$685 million (US$87.9 million) prior to the exercise of the over-allotment option.
CANbridge is a China-based global rare disease-focused biopharmaceutical company committed to the research, development and commercialization of transformative therapies. CANbridge has a comprehensive and differentiated pipeline of 13 drug assets with significant market potential, targeting some of the most prevalent rare diseases and rare oncology. These include Hunter syndrome (MPS II) and other lysosomal storage disorders (LSDs), complement mediated disorders, hemophilia A, metabolic disorders, rare cholestatic liver diseases and neuromuscular diseases as well as glioblastoma multiforme (GBM).
The Davis Polk corporate team included partners Yang Chu, James C. Lin and Xuelin (Steve) Wang, associates Jennifer Ng and Mandy Chan and registered foreign lawyers Jennifer (Yujia) Jiang and Allie Ma. Partner Po Sit, counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice. Members of the Davis Polk team are based in the Hong Kong, London and New York offices.