Top-Up Placing of Shares in Innovent Biologics, Inc.

Davis Polk advised the placing agents for the top-up placement of up to 97,000,000 shares in Innovent Biologics, Inc. for a total consideration of approximately HK$2.4 billion.

Davis Polk also advised the underwriters on Innovent Biologic Inc.’s HK$3.15 billion IPO in October 2018.

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. Innovent Biologics, Inc. is listed on the Hong Kong Stock Exchange.

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.