This is the largest A-share listing by an overseas-listed biotechnology company in 2022 so far

Davis Polk advised InnoCare Pharma Limited in connection with its initial public offering and listing on the Science and Technology Innovation Board of the Shanghai Stock Exchange. The gross proceeds from the offering amounted to approximately RMB2.9 billion.

InnoCare Pharma is a commercial stage biopharmaceutical company committed to discovering, developing and commercializing potential best-in-class and/or first-in-class drugs for the treatment of cancers and autoimmune diseases – two large therapeutic areas with significant market opportunity and synergies. Its vision is to become a global biopharmaceutical leader that develops and delivers innovative therapies for patients worldwide. InnoCare Pharma’s securities are also listed on the Hong Kong Stock Exchange.

The Davis Polk corporate team included partner Yang Chu, counsel Vanessa Chan and associate Yi Kai Sit. All members of the Davis Polk team are based in the Hong Kong office.

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