O’Melveny Represents Cryofocus in its Hong Kong IPODecember 30, 2022
FOR IMMEDIATE RELEASE
HONG KONG—DECEMBER 30, 2022—O’Melveny recently represented Cryofocus Medtech (Shanghai) Co., Ltd. (“Cryofocus”) (6922.HK) in its initial public offering and listing of H shares on the Main Board of the Hong Kong Stock Exchange. O’Melveny advised Cryofocus on both U.S. and Hong Kong laws and drafted its prospectus. This transaction, which is the 9th Hong Kong IPO completed by O’Melveny in 2022, also marks O’Melveny’s 14th Hong Kong IPO completed for Chapter 18A biotech companies, further solidifying the firm’s leading position in this field.
Founded in Shanghai in 2013, Cryofocus is a China-based medical device company with world-class technologies. With a primary focus on the field of minimally-invasive interventional cryotherapy, Cryofocus proprietarily developed a series of innovative medical devices. Its comprehensive product pipeline covers a wide variety of therapeutic areas with huge market potentials, such as cardiovascular intervention, respiratory intervention, urological intervention and gastrointestinal intervention. Several of its self-developed products have been designated as “innovative medical devices” by the NMPA or its provincial counterparts, and/or “breakthrough device” by the U.S. FDA.
Citigroup Global Markets Asia Limited and Huatai Financial Holdings (Hong Kong) Limited acted as the joint sponsors and joint representatives for this transaction.
The O’Melveny team for this transaction was led by corporate partners Ke Zhu, Ke Geng and Ye Sun, with assistance from counsel Wendy Kan and Yazhe Liu, associates Penny Chen and Sean Sy, legal consultants Keren He and Ruidian Xian, and trainee solicitors Ann Marie Choy and Cheryl Wong. Partners Rob Plesnarski and Kurt Berney and counsel Dawn Lim provided tax and U.S. legal opinion related advice.
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