Kirkland & Ellis advised the joint sponsors and underwriters on the $400 million global offering and listing of Keymed Biosciences Inc. (HKSE: 2162), a biotechnology company focused on the in-house discovery and development of innovative biological therapies in the autoimmune and oncology therapeutic areas, on The Stock Exchange of Hong Kong Limited on July 8, 2021.
Founded in 2016, Keymed is continuing to improve the drug development process and expand its product pipeline under the leadership of its visionary management team. Keymed has been able to continuously discover and develop new drug candidates and its pipeline includes eight drug candidates at various stages of development, of which five are clinical-stage drug candidates that each are among the first three domestically-developed for its target or in its class to have obtained IND approval in China and/or the U.S.
Keymed’s IPO attracted a number of cornerstone investors, including, among others, Invesco, UBS Asset Management, Temasek, Hillhouse Capital, Boyu Capital, 3H Investment, LAV, Lake Bleu Capital and Hudson Bay. The sponsors and underwriters included Morgan Stanley, China International Capital Corporation, Huatai Financial, and China Everbright Securities.
The Kirkland team was led by capital markets partner Mengyu Lu.