O’Melveny, Han Kun Law Offices, Maples Group, Latham & Watkins and Zhong Lun Law Firm advised on cancer drug developer Adlai Nortye’s Nasdaq debut, raising USD97.5 million, comprising a USD57.5 million public offering and a USD40 million private placement.
Adlai Nortye is the first Chinese company to successfully launch an IPO in the US since the implementation of the new filing rules on 31 March this year.
Corporate partners Geng Ke, Vincent Lin, Zhu Ke and Rob Plesnarski led the O’Melveny team advising Adlai Nortye on US law, while Han Kun and Maples advised on PRC and Cayman Islands law, respectively.
Latham & Watkins and Zhong Lun acted as US and PRC counsel, respectively, to underwriter Cantor Fitzgerald.
Adlai Nortye operates as a Cayman Islands-incorporated company with subsidiaries in the US and China. Its primary focus is to facilitate the development and commercialisation of innovative medicines through the licensing-in model.
Licensing-in is when a contract allows another firm to provide capital to the development and launch process, thus taking on financial responsibility.
