Davis Polk advised the sole placing agent for the primary placement of an aggregate of 78,000,000 new shares in Innovent Biologics, Inc. for a total consideration of approximately HK$2.4 billion.
Davis Polk also advised the underwriters on Innovent Biologics, Inc.’s HK$3.15 billion IPO in October 2018 and the placing agents in its HK$2.4 billion top-up placing in October 2019.
Innovent Biologics, Inc. is a China-based biopharmaceutical company that develops and commercializes high quality innovative drugs that are affordable to ordinary people. Founded by Dr. De-Chao Michael Yu in 2011, Innovent Biologics, Inc. has built up a robust pipeline of 21 innovative assets in the fields of oncology, metabolic diseases and other major therapeutic areas, encompassing both biologics and small molecules and formulating a staggered product launching plan.
The Davis Polk team included partner Yang Chu and associate Vivian Chow. All members of the Davis Polk team are based in the Hong Kong office.