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JunHe assisted Suzhou Zelgen Biopharmaceuticals Co., Ltd., the First Unprofitable Application Enterprise on Sci-Tech Innovation Board in its Initial Public Offering and Listing

2020.03.03

On January 23, 2020, Suzhou Zelgen Biopharmaceuticals Co., Ltd.  ("Zelgen Biopharmaceuticals" or the "Company") was listed on SSE STAR Market with the stock code of 688266. JunHe acted as the attorney of the issuer. Zelgen Biopharmaceuticals issued 60 million new shares at an issue price of RMB 33.76 per share, and raised a total amount of RMB 2,025,600,000, with the corresponding market value being RMB 8,102,400,000.

 

Zelgen Biopharmaceuticals is the first innovative drug R & D enterprise to log on to the Sci-Tech Innovation Board (to which the fifth set of standards for the board are applicable), as well as the first enterprise in the history of the A-share capital market to successfully achieve initial public offering and listing of shares without any operating income or profit.  Before the launch of the Sci-Tech Innovation Board, due to the requirements of the issuer's net profit indicators as specified by the traditional A-share listing conditions, innovative drug R & D enterprises with advanced technology but still in the R & D stage can only choose to list on overseas stock exchanges such as the Hong Kong Stock Exchange and the NASDAQ. With the successful listing of Zelgen Biopharmaceuticals, Sci-Tech Innovation Board has achieved a breakthrough of "zero" in the listing of enterprises yet to make a profit (to which the fifth set of standards for the board are applicable) and become an important milestone in the development of China's capital market.

 

Founded in 2009, Zelgen Biopharmaceuticals is an innovative chemical and biotechnology drug R & D enterprises specializing in the treatment of oncology, hematology and hepatobiliary disease. The Company is committed to research and development of innovative drugs that are safe, effective, affordable, and have global proprietary intellectual property rights, so as to meet the huge demand of therapeutic markets both home and abroad. The Company has independently developed a series of product line for small molecule new drug and bispecific/tri-specific antibody with patent protection. This has enabled company to build-up a strong pipeline covering such treatment areas as liver cancer, non-small cell lung cancer, colorectal cancer, thyroid cancer, nasopharyngeal carcinomas, myelofibrosis, hemorrhage, and hepatobiliary diseases.

 

As the attorney of the issuer, JunHe participated in the whole process of listing preparation, and assisted the Company in completing major legal matters such as acquisition of the controlling stake in a US company, private equity financing before listing, shareholding reform, development of an employee stock ownership plan, FTO patent investigation, state-owned shareholder identity management, resolution of potential conflicts of interest between the Company and its actual controller's related parties, etc. JunHe team with consistent efficiency, diligence, stable work style, carefulness, professional service attitude, has been unanimously recognized by the Company and other intermediary agencies.

 

The leading partner of this Project is SHI Tiejun and TAO, Xudong.


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