Clifford Chance

Clifford Chance advises on innovative vaccine maker Recbio's Hong Kong IPO

Leading international law firm Clifford Chance has advised the joint sponsors and underwriters including Morgan Stanley, CMBI and CLSA on HPV and COVID-19 vaccine maker Jiangsu Recbio Technology Co., Ltd.'s US$98 million initial public offering (IPO) and listing on the Main Board of the Hong Kong Stock Exchange under Chapter 18A of the Listing Rules.

China Co-Managing Partner Tim Wang and partners Fang Liu and Christine Xu co-led the deal, with support from consultant Queenie Tong, senior associate Emma Bao, associates Tao Yang and Yuan Cao, and trainee solicitor Xiao Yu.

Tim said, "We are pleased to support Recbio's successful IPO, which adds to our wealth of experience and market-leading expertise advising on Chapter 18A listings for the thriving biotech and life sciences sector."

Clifford Chance's Greater China IPO practice regularly advises on the IPOs of the most innovative pharmaceutical, biotech and healthcare companies including Lepu Biopharma, Sirnaomics, MicroTech Medical, Zylox-Tonbridge Medical Technology, Harbour BioMed and Ascentage Pharma.

Founded in 2012, Recbio is a vaccine company with a high-value subunit vaccine portfolio, primarily focused on the research and development of human papillomavirus (HPV) vaccine candidates. Its portfolio consists of a dozen vaccines, including its core product, REC603, a recombinant HPV 9-valent vaccine under Phase III clinical trial in China and its COVID-19 vaccine, ReCOV, currently undergoing clinical trials overseas. The company is one of the few Chinese vaccine companies that is capable of developing novel adjuvants, benchmarking all of the FDA-approved novel adjuvants to date.