O’Melveny Represents Luzhu Biotech in its US$43 Million Hong Kong IPO, First for an 18A Biotech Company in 2023

FOR IMMEDIATE RELEASE

HONG KONG, MAY 8, 2023 —O’Melveny recently represented Beijing Luzhu Biotechnology Co., Ltd. (“Luzhu Biotech”) (2480.HK) in its initial public offering and listing of H shares on the Main Board of the Hong Kong Stock Exchange. The IPO offering size was approximately HK$340 million (approximately US$43 million). Assuming full exercise of the over-allotment option, the offering size will be approximately HK$392 million (approximately US$50 million). O’Melveny advised Luzhu Biotech on both U.S. and Hong Kong laws and drafted its prospectus. This transaction, which is the first Hong Kong IPO of a 18A biotech company in 2023, also marks O’Melveny’s 15th Hong Kong IPO completed for Chapter 18A biotech companies, further solidifying the firm’s leading position in this field.

Founded in Beijing in 2001, Luzhu Biotech is a biotechnology company committed to developing innovative human vaccines and therapeutic biologics to prevent and control infectious diseases and treat cancer and autoimmune diseases.  Luzhu Biotech focuses on human medicine and has established technology platforms with its understanding of immunology and protein engineering, which empowers it to develop its recombinant vaccine and antibody product candidates with favorable efficiency, high purity and improved stability. Its product pipeline consists of three clinical-stage product candidates and four pre-clinical-stage product candidates, among which, the core product LZ901, an independently developed recombinant herpes zoster vaccine candidate, has a tetrameric molecular structure to prevent shingles caused by varicella-zoster virus for adults aged 50 years and older.

China International Capital Corporation Hong Kong Securities Limited acted as the Sole Sponsor, Sole Overall Coordinator and Sole Representative for this transaction.

The O’Melveny team for this transaction was led by corporate partners Ke Zhu and Ke Geng, with assistance from counsel Wei Liu, associates Katherine Wang, Edward Ku and Rita Deng, and legal consultants Madlyn Li, Michelle Luo and Chaoran Chen. Partner Kurt Berney provided U.S. legal opinion related advice.

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Contact:

Brandon Jacobsen
O’Melveny & Myers LLP
+1 213 430 8024
bjacobsen@omm.com

Chris Schob
O’Melveny & Myers LLP
+86 21 2307 7000
cschob@omm.com

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