InnoCare Pharma Limited’s $287 Million Initial Public Offering

Davis Polk advised InnoCare Pharma Limited on the deal.

InnoCare Pharma Limited executed its initial public offering and listing on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A and Regulation S.

The gross proceeds from the offering amounted to approximately HK$2.24 billion ($287 million) prior to any exercise of the over-allotment option.

InnoCare Pharma is a clinical stage biopharmaceutical company committed to discovering, developing and commercializing potential best-in-class and/or first-in-class drugs for the treatment of cancer and autoimmune diseases. Led by a well-known management team of seasoned industry executives, it has built a biopharmaceutical platform with strong in-house R&D capabilities, with a vision to become a global biopharmaceutical leader that develops and delivers innovative therapies for patients worldwide.

The Davis Polk corporate team included partners Li He (Picture) and Yang Chu, counsel – registered foreign lawyer Xuelin (Steve) Wang, associate Kai Sun and registered foreign lawyer Jennifer (Yujia) Jiang. Counsel Alon Gurfinkel and associates Omer Harel and Summer Xia provided tax advice.

Involved fees earner: Yang Chu – Davis Polk & Wardwell; Alon Gurfinkel – Davis Polk & Wardwell; Omer Harel – Davis Polk & Wardwell; Li He – Davis Polk & Wardwell; Jennifer Jiang – Davis Polk & Wardwell; Kai Sun – Davis Polk & Wardwell; Xuelin Wang – Davis Polk & Wardwell; Summer Xia – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: InnoCare Pharma Limited;

Author: Michael Patrini