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Zhong Lun Advises on Kelun-Biotech's Listing on the Main Board of SEHK
Zhong Lun Advises on Kelun-Biotech's Listing on the Main Board of SEHK
Release time：2023-07-11
Voice Announcements
On July 11, 2023, Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. (Kelun-Biotech, 06990. HK) announced its initial public offering of overseas listed foreign shares (H shares) and successful listing on the Main Board of the Stock Exchange of Hong Kong Limited.
Zhong Lun served as the PRC counsel for the joint sponsors Goldman Sachs (Asia) L.L.C. and CITIC Securities (Hong Kong) Limited, providing legal services throughout the whole of the H shares’ issuance and full circulation. Zhong Lun partners Yiwen Chen, Zexiong Wen and Jia Liu headed the project, and team members also included associates Yifeng Yao, Yifei Zhang, Kun Zhang, Xiaolin Yuan, Jianjian Zang, Liyu Shu, etc.
The H share listing of Kelun-Biotech constituted a spin off from Sichuan Kelun Pharmaceutical Co., Ltd. (Kelun Pharmaceutical, 002422.SZ), a listed company on the main board of the Shenzhen Stock Exchange. It is the first time that an A-share listed company has accomplished the spin-off and overseas listing of its subsidiary since the China Securities Regulatory Commission issued the Rules for the Spin-off of Listed Companies (For Trial Implementation) in 2022. This project marks yet another fruitful attempt by Kelun Pharmaceutical to get a spin-off subsidiary listed under its development strategy of “innovative growth driven by three engines", following the company’s previous successful spin-off of Yili Chuanning Biotechnology Co., Ltd. (301301.SZ) for A-share listing.
Kelun-Biotech is committed to the R&D, manufacturing, commercialization and international cooperation for biotechnology drugs and novel small molecule drugs in oncology, immunology and other therapeutic areas. Focusing on the unmet clinical needs of China and the rest of the world, Kelun-Biotech covers major diseases such as cancer, autoimmunity, inflammation and metabolism and has built an international platform for drug development and industrialization, with a view to becoming a leading international innovation powerhouse. Kelun-Biotech has made significant progress in the field of biotechnology drugs, with achievements including ADC, monoclonal antibody, bispecific antibody and innovative small molecule drugs for newly discovered drug targets. Kelun-Biotech have successfully built OptiDC, an internationally renowned ADC research and development platform, with four ADCs in the clinical research stage (two in phase III or NDA phase) and many in the pre-clinical research pipeline. As of June 2023, Kelun-Biotech had 33 innovative projects for the treatment of tumor, autoimmune, inflammation, metabolism and other major diseases, and 14 projects are undergoing clinical studies, many of which are global multicenter studies, conducted simultaneously in China and other countries across Europe and North America.
