Davis Polk advised Venus Medtech (Hangzhou) Inc. in connection with its initial public offering and listing on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A and Regulation S. The gross proceeds from the offering amounted to approximately HK$2.59 billion (US$331.17 million) prior to any exercise of the over-allotment option.

Venus Medtech is the leading transcatheter heart valve medical device company in China, focusing on R&D, manufacturing and commercialization of products designed for transcatheter implantation to replace dysfunctional heart valves mainly associated with aortic stenosis and pulmonic, mitral and tricuspid regurgitation. Its self-developed product, VenusA-Valve, is the first TAVR product approved by the NMPA and commercialized in China, with 79.3% market share in China based on implantation volume of TAVR products in 2018.

The Davis Polk corporate team included partners Bonnie Y. Chan, Howard Zhang, Li He and James C. Lin, counsel-registered foreign lawyer Xuelin (Steve) Wang, counsel Stephenie Fung, registered foreign lawyers Jennifer Liu and Xiushan Sun and associate Edwin Lee. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Members of the Davis Polk team are based in the Hong Kong, Beijing and London offices.

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