Davis Polk Advises InnoCare Pharma Limited on Its HK$2.24 Billion ($287 Million) Initial Public Offering

Davis Polk advised InnoCare Pharma Limited 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$2.24 billion ($287 million) prior to any exercise of the over-allotment option.

InnoCare Pharma is a clinical stage biopharmaceutical company committed to discovering, developing and commercializing potential best-in-class and/or first-in-class drugs for the treatment of cancer and autoimmune diseases. Led by a well-known management team of seasoned industry executives, it has built a biopharmaceutical platform with strong in-house R&D capabilities, with a vision to become a global biopharmaceutical leader that develops and delivers innovative therapies for patients worldwide.

The Davis Polk corporate team included partners Li He and Yang Chu, counsel - registered foreign lawyer Xuelin (Steve) Wang, associate Kai Sun and registered foreign lawyer Jennifer (Yujia) Jiang. Counsel Alon Gurfinkel and associates Omer Harel and Summer Xia provided tax advice. Members of the Davis Polk team are based in the Hong Kong, Beijing and London offices.