Ocumension Therapeutics HK$1.55 Billion (US$200.4 Million) Initial Public Offering on the Hong Kong Stock Exchange

Davis Polk advised the underwriters in the initial public offering of Ocumension Therapeutics on the Hong Kong Stock Exchange and an international offering and listing in reliance on Rule 144A and Regulation S. The gross proceeds from the offering amounted to approximately HK$1.55 billion (US$200.4 million) prior to any exercise of the over-allotment option.

Ocumension is a China-based ophthalmic pharmaceutical platform company dedicated to identifying, developing and commercializing first- or best-in-class ophthalmic therapies and has, in less than three years, built a strategically designed ophthalmic drug portfolio that is comprehensive, innovative and validated. As of the Latest Practicable Date, Ocumension had 16 drug assets in its portfolio, covering all major front- and back-of-the-eye diseases, making it one of only a few pharmaceutical companies in China with such full coverage.

The Davis Polk corporate team included partners Li He and Yang Chu, counsel - registered foreign Xuelin (Steve) Wang, registered foreign lawyer Xiushan Sun and associates Lillian Lian, Jeffrey Chan, Vivian Chow. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Members of the Davis Polk team are based in the Hong Kong and London offices.