Sidley represented Zylox-Tonbridge Medical Technology Co., Ltd. (HKEX: 2190, “Zylox-Tonbridge”), a leading medical device company in the neuro- and peripheral-vascular interventional market in China, in connection with a private investment in public security (or PIPE) transaction to purchase a total of up to US$15 million of preferred and common stock of Avinger, Inc. (NASDAQ: AVGR), a NASDAQ-listed Delaware corporation. Avinger is a commercial-stage medical device company developing and marketing the first and only intravascular image-guided, catheter-based systems for diagnosis and treatment of vascular disease. The PIPE transaction is part of the strategic partnership concurrently entered into by Zylox-Tonbridge and Avinger pursuant to a licensing agreement and a strategic collaboration agreement.
Based in Hangzhou, China, Zylox-Tonbridge was listed on the Hong Kong Stock Exchange in 2021. The company operates two major subsidiaries, Zylox Medical and Tonbridge Medical, each specializing in peripheral and neurovascular interventions, respectively. With its comprehensive product portfolio and rapid commercialization process, Zylox-Tonbridge has emerged as one of the leading vascular intervention medical device platforms in the Greater China.
The Sidley team was led by partner Ruchun Ji. Other team members included senior managing associate Jing Peng, associate Weiya Mu, and partner David Ni.
Sidley’s Global Life Sciences practice, which comprises more than 200 dedicated lawyers globally, offers cross-disciplinary, full-service solutions for life science clients, including M&A and private equity, licensing and collaboration transactions, capital markets, regulatory compliance and enforcement, and dispute resolutions, assisting biotech and pharmaceutical clients around the world. Sidley’s China Life Sciences practice, an integral part of the firm’s Global Life Sciences practice, is the only Band One international firm ranked by Chambers Asia Pacific/Greater China Region for 15 consecutive years.
