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Clifford Chance advises on Zylox-Tonbridge's Hong Kong IPO and Chapter 18A Listing

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5 July 2021

Clifford Chance advises on Zylox-Tonbridge's Hong Kong IPO and Chapter 18A Listing

Leading international law firm Clifford Chance has advised Morgan Stanley, CLSA and other underwriters on biotech company Zylox-Tonbridge Medical Technology's US$330 million IPO and listing on the Hong Kong Stock Exchange, under Chapter 18A of the Hong Kong Listing Rules for early-stage biotech companies. The public offering tranche of the IPO was oversubscribed by 1,190 times.

Hangzhou-headquartered Zylox-Tonbridge provides interventional medical devices for the treatment of neuro and peripheral-vascular diseases. Neurovascular diseases are one of the leading causes of death and disability globally, and the leading cause of death in China, accounting for over 20% of the country's total mortality in 2019.

The deal was led by Hong Kong and Beijing partners Fang Liu and Tianning Xiang, with support from senior associates Xiaoxi Liu and Erxin Lu, associates Ada Zheng, Haoze Zheng, Liying Liang and Ryan Ho, and trainees Yuer Shao, Xiao Yu, Yuqing Liu and Jiawei Zheng.

Fang Liu said, "We are honoured to work on Zylox-Tonbridge's IPO, which once again demonstrates the depth and breadth of our expertise in Chapter 18A listings for the full spectrum of biotech companies, from medicines, medical devices, vaccines to other medical products."

Clifford Chance's market leading Greater China IPO practice regularly advises on the IPOs of the most innovative biotech, pharmaceutical and other healthcare companies, including SciClone Pharmaceuticals, Harbour BioMedHygeia Healthcare and Genetron.

高伟绅助力归创通桥3.3亿美元香港首次公开发行及第18A章上市

国际领先律师事务所高伟绅就归创通桥医疗科技股份有限公司通过《上市规则》第18A章(适用于发展初期的生物科技公司)的3.3亿美元首次公开发行和香港联交所上市,为摩根士丹利、里昂证券及其他承销商提供法律服务。此次公开发售部分超额认购1190倍。总部位于杭州的归创通桥为神经和外周血管疾病的治疗提供介入医疗器械。神经血管疾病是在全球导致死亡和残疾的主要诱因,也是在中国导致死亡的主要诱因。

本项目团队由香港办公室合伙人方刘和北京办公室合伙人向天宁共同领导,团队成员包括刘晓西、陆尔馨、郑喻丹、郑镐泽、梁莉颖、何宗阳、邵钰儿、俞笑、刘雨晴和郑家伟。

方刘律师表示:“我们非常荣幸为归创通桥的首次公开发行提供法律服务。此次上市成功再次彰显了高伟绅团队在为药品、医疗器械、疫苗和其他医疗产品等各类生物技术公司按照第18A章上市领域的深厚经验。”

高伟绅市场领先的大中华区上市业务团队曾参与众多创新生物科技、制药和其他医疗类企业的首次公开发行,包括赛生药业和铂医药海吉亚医疗以及泛生子