Placing of Shares in Innovent Biologics, Inc.

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.