Gracell Biotechnologies at-the-market offering
Davis Polk advised the sales agents in connection with an SEC-registered at-the-marketing offering by Gracell Biotechnologies Inc. of its American depositary shares (ADSs). Gracell’s ADSs are listed on the Nasdaq Global Select Market under the symbol “GRCL.”
Gracell is a global clinical-stage biopharmaceutical company dedicated to discovering and developing breakthrough cell therapies. Leveraging its FasTCAR and TruUCAR technology platforms, Gracell is developing a pipeline of multiple autologous and allogeneic product candidates with the potential to overcome major industry challenges that persist with conventional CAR-T therapies, including lengthy manufacturing time, suboptimal production quality, high therapy cost and lack of effective CAR-T therapies for solid tumors.
The Davis Polk capital markets team included partners Yasin Keshvargar and Xuelin (Steve) Wang and registered foreign lawyer Xin (Sheen) Xu. Partner Corey M. Goodman and associate Tyler Scheiner provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Hong Kong and New York offices.