Sidley represented Ocumension Therapeutics (HKEX: 1477) as Hong Kong and U.S. legal counsel in its initial public offering (IPO) on the Main Board of the Stock Exchange of Hong Kong. The offering raised net proceeds of HK$1.42 billion (approximately US$182.5 million). Morgan Stanley Asia Limited and Goldman Sachs (Asia) LLC acted as joint sponsors for the transaction.
Ocumension Therapeutics, which started its business in 2017, is an ophthalmic pharmaceutical platform company dedicated to identifying, developing, and commercializing first or best-in-class ophthalmic therapies.
The Sidley team was led by partners Ruchun Ji and Oliver Zhong. Other team members included China advisor Rock Liu, registered foreign lawyers Scarlet Feng and Weiya Mu. Tax team members included New York-based partner Nicholas Brown and associate Remi Gagnon.
About Sidley’s Hong Kong IPO Practice
Since the launch of Hong Kong’s new listing regime in April 2018, we have advised on seven life sciences related IPO projects, including Ocumension Therapeutics, Kangji Medical, Alphamab Oncology, Shanghai Henlius Biotech Inc., Viva Biotech Holdings, CanSino Biologics Inc., and Ascletis Pharma Inc. According to the most recent data compiled by RyanBen Capital, Sidley remains the No. 1 legal adviser in the Hong Kong IPO league table by deal volume over the past 24 months (July 2018 to June 2020).