Davis Polk advised the sole placing agent for the placement of 56,200,000 new shares and 36,800,000 existing shares in Innovent Biologics, Inc., for an aggregate consideration of approximately HK$4.65 billion.
Davis Polk also advised the underwriters on Innovent Biologics, Inc.’s HK$3.15 billion IPO in October 2018, the placing agents in its HK$2.4 billion top-up placing in October 2019 and the sole placing agent in its HK$2.4 billion primary placement in February 2020.
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 valuable assets in the fields of cancer, metabolic, autoimmune 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, counsel – registered foreign lawyer Xuelin (Steve) Wang and associates Kai Sun and Vivian Chow. All members of the Davis Polk team are based in the Hong Kong office.