O’Melveny Represents 3D Medicines Inc. in US$52 Million Hong Kong IPODecember 15, 2022
FOR IMMEDIATE RELEASE
HONG KONG, DECEMBER 15, 2022 — O’Melveny recently represented 3D Medicines Inc. (1244.HK) (“3D Medicines”) in its initial public offering and listing of shares on the Main Board of the Hong Kong Stock Exchange. The IPO offering size was approximately HK$408 million (approximately US$52 million). Assuming full exercise of the over-allotment option, the offering size will be approximately HK$419 million (approximately US$54 million). O’Melveny advised 3D Medicines on both U.S. and Hong Kong laws and drafted the prospectus. This marks O’Melveny’s thirteenth Chapter 18A Hong Kong IPO completed for biotech companies, further solidifying the firm’s leading position in this field.
Founded in Shanghai in 2014, 3D Medicines is a bio-pharmaceutical company focusing on the research and development of oncology therapies for cancer patients, especially those who require long-term care. It has built a pipeline consisting of one core product and 11 drug candidates, among which, the core product envafolimab (brand name: ENWEIDA, 恩維達®), as its backbone, was approved in November 2021 and commercialized in December 2021, and seven other drug candidates are in clinical stage. Its core product envafolimab is a subcutaneously injectable PD-L1 antibody that has been approved in China for the treatment of previously treated microsatellite instability-high (MSI-H)/mismatch repair deficiency (dMMR) advanced solid tumors.
China International Capital Corporation Hong Kong Securities Limited and China Securities (International) Corporate Finance Company Limited acted as the joint sponsors for this transaction.
The O’Melveny team was led by corporate partners Ke Geng, Ke Zhu, and included counsel Qianyu Hu and Claire Huang, associates Wuxiao Liang and Cherry Ma as well as legal consultant Keren He, trainee solicitor Iris Wang and legal consultant intern Nick Mu. Associates Katherine Wang and Jingwei Huang and legal consultant Yutong Xie also provided valuable support. Partners Rob Plesnarski and Kurt Berney and counsel Billy Abbott and Dawn Lim provided tax and U.S. legal opinion related advice.
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