Allen & Overy advises on Boan Biotech’s listing on the Hong Kong Stock Exchange
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Allen & Overy is advising Shandong Boan Biotechnology Co., Ltd. (Boan Biotech) on the spin-off from Luye Pharma Group (2186.HK) and a separate listing of the H Shares of Boan Biotech on the Main Board of the Hong Kong Stock Exchange.
Established in 2013, Boan Biotech is an integrated biopharmaceutical company committed to developing, manufacturing and commercialising high-quality biologics across various therapeutic areas in China and overseas. Boan Biotech independently developed all of its portfolio in-house, which focuses on key therapeutic areas including oncology, metabolism, autoimmunity and ophthalmology. Its portfolio comprises three core products and 11 other drug products or candidates including one commercialised product.
Partner Lina Lee commented: “We are pleased to be able to assist our long term client, Luye Pharma, reach this important milestone in their continued corporate development. This transaction demonstrates our depth of experience in the life science sector and understanding of Hong Kong capital markets. A&O continues to play a critical role in assisting Chinese issuers in tapping international capital markets.”
Partner Kung-Wei Liu added: “We are deeply impressed by Boan Biotech’s innovation and development in the biotech industry and we are honoured to work with the company throughout this successful listing.”
The A&O deal team was led by Hong Kong-based partners Lina Lee and Kung-Wei Liu, with support from senior associate, Evan Tsang, as well as Rachel Chan, Zoe Guan, Julia Zhu, Rong Wang and Cheryl Hui. Tim Qiao from A&O’s Shanghai joint operation partner, Shanghai Lang Yue Law Firm, also contributed.