Case Study: Akeso Biopharma

A Pre-Revenue Biotech Company Achieves Landmark Listing on the HKSE

O’Melveny advised Akeso Biopharma, a leading Chinese clinical-state biopharmaceutical company specializing in oncology and immunology therapies, in its listing and IPO on the Hong Kong Stock Exchange.

Marking 2020’s largest Hong Kong biotech IPO and largest pre-revenue company IPO year-to-date, the IPO offering size was approximately HK$2.58 billion (US$333 million), with an over-allotment option that increased the potential offering size to approximately HK$2.97 billion (US$383 million).

Akeso’s successful IPO is a landmark achievement among Hong Kong pre-revenue biotech company listings, with an over-subscription of public offer shares of over 639 times. The proceeds will help the company advance its bispecfic antibody for cervical cancer, which aims to be on the market by late 2021.

View More Case Studies