On February 21, 2020, Bio-Thera Solutions, Ltd. went public on the Sci-Tech Innovation Board of the Shanghai Stock Exchange, with the stock code 688177, for which JunHe acted as the counsel to the issuer. Bio-Thera Solutions, Ltd. issued 60 million new shares at the offering price of RMB32.76 yuan per share. The total amount of proceeds was RMB1.9656 billion yuan.
Bio-Thera Solutions, Ltd. is the second unprofitable company applying the fifth set of standards which succeeded in completing IPO on the STAR Market, and is also the second company in the history of A-share market that went public with negative prime operating revenue and negative profit.
Founded in 2003, Bio-Thera Solutions, Ltd. is an innovative biopharmaceutical company focusing on the research and development of innovative drugs and biosimilar drugs. Adhering to the concept of "innovation only for life", the company is committed to developing a next generation innovative drugs and biosimilar drugs to treat cancer, autoimmune diseases, cardiovascular diseases and other major diseases that endanger human life and health. It endeavors to research and development of safe, effective and affordable medications with high quality to meet the urgent needs for treatment.
As the counsel to the issuer of this project, JunHe was involved in the whole process of the project including pre-listing standardization of company operation, shareholding system transformation, pre-listing invitation of investors, employees equity incentive program, and application for IPO. With consistent efficiency, rigorous work style, meticulous, professional service attitude, JunHe has been acclaimed by the company and other intermediary agencies.