Han Kun Law Offices and Zhong Lun Law Firm have taken lead legal roles in a China acquisition where drug giant Sino Biopharmaceutical acquires cancer treatment manufacturer LaNova Medicines for up to USD950 million.
Sino Biopharmaceutical has agreed to acquire 95% of LaNova’s equity through its subsidiary, Chia Tai Pharmaceutical Investment Group.
Combined with the Chinese giant’s existing 4.91% stake, Sino Biopharmaceutical will wholly own LaNova once the transaction is completed.
Han Kun counselled Sino Biopharmaceutical, forming a cross-disciplinary service team led by partner Aaron Gu, along with 10 lawyers, including partners Chen Cheng, Li Ying, Li Tao, Angus Xie, Sophie Shi and Jenny Li. The team advised on key areas such as life sciences and healthcare, cross-border M&A, antitrust review, intellectual property and compliance.
Zhong Lun advised LaNova, a six-year old company that had become a leading player in the fields of immuno-oncology and the tumour microenvironment.
Amid the wave of Chinese innovative drugs going global, LaNova has successfully reached outbound licensing deals worth USD4 billion with multinational pharmaceutical companies such as AstraZeneca and Merck.
The Hong Kong-listed Sino Biopharmaceutical, established in 2000, has been focusing on R&D, manufacturing and the sale of drugs to treat tumours, liver disease and the respiratory system. It owns companies such as Chia Tai-Tianqing and Taide Pharmacy.
