O’Melveny Represents Hua Medicine in US$110 Million Hong Kong IPO
September 14, 2018
FOR IMMEDIATE RELEASE
Hong Kong—September 14, 2018—O’Melveny advised Hua Medicine in its US$110 million initial public offering on the Main Board of the Hong Kong Stock Exchange. This listing represented the third biotech company to successfully complete an IPO under the new biotech chapter 18A of the Hong Kong listing rules. Goldman Sachs and CLSA are the joint sponsors of the IPO.
Hua Medicine is a Shanghai-based drug development company focusing on developing a global first-in-class oral diabetes drug called Dorzagliatin for the treatment of type 2 diabetes, which represents 95% of all diabetes cases worldwide.
The O’Melveny team was led by San Francisco partner Kurt Berney and Hong Kong partner Edwin Kwok, and included counsel Paul Porter and Lillian Cheung, with assistance from associates Wendy Kan, Sydney Ryan, and Michelle Yu, and trainee solicitor Edward Poon. Counsel Will Autz and Wenting Yu provided intellectual property and corporate advice, respectively.
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