JunHe, as legal counsel to ShenZhen YINUOWEI Medical-tech Co., Ltd. (“YINUOWEI”), represented YINUOWEI in its series-A+ financing. This round of financing raised funds of RMB 102 million, the leading investor is a well-known investment institution, and the follow-up investors were Mefund Capital, Leaguer, BOHE Angel Fund, TF Capital, Triwise, and Yonghua Capital continuously participated in this series A+ financing.
YINUOWEI was founded in May 2015, devoted to developing a new generation of a tumour-dissolve virus, to increase the life of a tumour-dissolve virus and a better immune response. Founder of YIWEINUO is Dr. Bernard Roizman at the University of Chicago, and is known as the “Father of the herpes virus” and his student Dr. ZHOU，Guoying. Dr. Bernard Roizman is the skeleton inventor of Imlygic (T-vec), the only FDA approved tumour-dissolve virus product. Dr. ZHOU，Guoying is the inventor of targeting the herpes tumour-dissolve virus. This series of financing is to be used in the clinical research of the initial product, and development of new products.
Since 2016, the JunHe team has consistently acted as perennial legal counsel to YINUOWEI providing whole-set legal services for the series A financing, and series A+ financing. In this series financing, JunHe provided legal services including the demonstration on deal structure, reviewing, modifying domestic and offshore deal documents, assisting YINUOWEI and its founders to negotiate with leading investors and others, and preparing the delivery documents.
This was a complex project in many ways: 1) Many parties were involved in this round of financing, with the JunHe team negotiating and communicating with the leading party, follow-up party, former investors and founders of the company simultaneously or separately; 2) The company conducted a restructure before this round of financing, and in this project former investors’ share rights, and priority between former investors, and new investors were to be disposed properly, meanwhile the interests of the company and founders had to be safeguarded to the greatest degree; 3) In order to move with the business development and financial situation, the timetable of the project was tight and the intensity of working high. The JunHe team negotiated effectively with the founders and leading investor on the major and confusing issues, successfully completing and delivering this project to schedule, also the JunHe team’s performance was highly recognized by YINUOWEI and its founders.
The leading partner for the Project was Mr. FENG, Cheng.