Clifford Chance

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 BioMed, Hygeia Healthcare and Genetron.