Press Release

Kirkland Represents Jiangsu Recbio Technology on Hong Kong IPO

Kirkland & Ellis advised Jiangsu Recbio Technology Co., Ltd. (HKSE: 2179) (“Recbio”), a vaccine company dedicated to the research, development and commercialization of subunit vaccines, on its global offering and listing of H-shares on the Hong Kong Exchanges and Clearing Limited on March 31, 2022. The successful listing of Recbio marked the first HPV vaccine stock in Hong Kong. 

Founded in 2012, Recbio is the vaccine company with high-value vaccine portfolio driven by in-house developed technologies. The company has a comprehensive vaccine portfolio consisting of 12 candidates in a broad disease spectrum, including HPV, cervical cancer, COVID-19, adult tuberculosis, shingles, HFMD and influenza. Its core product, REC603, a recombinant HPV 9-valent vaccine under phase III clinical trial, is expected to be one of the first domestic HPV 9-valent vaccines to be approved and commercialized in China.

Recbio’s IPO attracted pre-IPO investments from dedicated healthcare and biotech funds as well as established funds with a focus in the healthcare sector, including, among others, Lake Bleu Capital, Temasek, Legend Capital, LYFE Capital, Sequoia and CMB International. Cornerstone investors in the IPO included Yangtze River Hong Kong, Harvest, SCHP and Sequoia Capital China Growth.

Read Recbio's listing document

The Kirkland team was led by capital markets partners Mengyu Lu, Samantha Peng and Kelvin Chu, with support from capital markets registered foreign lawyer Bill Feng, associate Ryan Choi and other capital markets legal professionals in the region.