Sidley has advised Ascletis Pharma Inc. (HKEX: 1672) (Ascletis) in connection with its HK$3.5 billion (approximately US$457 million) initial public offering on the Main Board of the Stock Exchange of Hong Kong Limited. Ascletis is the first biotechnology company successfully listed since HKEX’s new rules took effect on April 30, 2018, which opened the door to pre-revenue companies in the emerging and innovative sector.
Ascletis, based in Zhejiang, China, is a fully integrated anti-viral platform focusing on developing and commercializing innovative, best-in-class drugs against HCV, HIV and HBV.
The Sidley team was led by partners Mengyu Lu and Kefei Li, with support from counsel Michael Yu, associate Samantha Peng, legal manager Sierra Tao, China advisors Pianpian Chen and Bill Feng, as well as senior legal assistant Grace Hua.
Sidley’s multidisciplinary life sciences industry focused practice is well recognized in China and globally, and has been advising numerous clients across various stages of their business cycle. The Sidley China team has an established reputation as one of the top Hong Kong IPO legal advisers. The team has advised on more than 13 Hong Kong IPOs in the first half of 2018 and leads the legal advisor league table on deal counts*.
*RyanbenCapital data (2018 Jan – Jun)