Luzhu Biotechnology debuted on the HKEX through chapter 18A, the first biotech company without any revenue or profits to be listed this year, raising HKD341 million (USD43.45 million).
Partners Zhu Ke and Geng Ke at O’Melveny advised the issuer on Hong Kong and US law, Eric–Chow & Co advised on Hong Kong law, Commerce & Finance Law Offices advised on PRC law, and Hiways Law Firm acted as PRC intellectual property counsel.
Wilson Sonsini’s partners Ouyang Dan, Winfield Lau and Myra Sutanto Shen acted as Hong Kong and US counsel to the sole sponsor CICC and 15 underwriters, including Guotai Junan Securities, CCB International Capital and others.
Partners Michael Gu and Zhou Xishu led Zhong Lun Law Firm’s team acting on PRC counsel to the sole sponsor and underwriters.
Luzhu Biotechnology hais yet to commercialise any products, and thus it mainly counts on the focused herpes zoster vaccine with an upcoming distribution within the next one to four years, if development progresses smoothly.
At present, only two herpes zoster vaccines are approved in China, which are GSK’s recombinant zoster vaccine (Shingrix) and Bcht Biotech’s live attenuated zoster vaccine.