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JunHe has completed the 5th life science and health industry IPO in 2020 – Boosting the Listing of Legend Biotech on Nasdaq

2020.06.08

The initial public offering (IPO) of the American Depositary Shares (“ADSs”) by Legend Biotech Corporation (“Legend Biotech”; Nasdaq: LEGN) was listed on the Nasdaq Global Select Market (GSM) on June 5, 2020. Legend Biotech raised approx. US$423.8 million through the IPO by offering approx. 18,425,000 ADSs (excluding the over-allotment right) at a price of US$23 apiece.


Legend Biotech is a clinical biopharmaceutical R&D company developing innovative cell therapies for oncology and other indications in the United States, China and the Europe. The key candidate product of Legend Biotech is LCAR-B38M/JNJ-4528, which is a chimeric antigen receptor T cell (CAR-T) immunotherapy co-developed by Legend Biotech and Jansen Biotechnology (a Johnson & Johnson pharmaceutical company) for multiple myeloma (MM) treatments. CAR-T cell therapy of Legend Biotech is the first CAR-T therapy for which the approval of confirmatory clinical trials from China’s National Medical Products Administration (NMPA) has been obtained in the Chinese mainland, and has been confirmed as a breakthrough therapy by the US Food and Drug Administration (FDA).


Legend Biotech is a subsidiary held by Genscript Biotech Corporation ("Genscript Bio", HKEX: 1548) which is a Hong Kong-based company listed on the Hong Kong Stock Exchange (HKEX). As the PRC legal adviser to Genscript Bio, JunHe ever boosted its listing on the HKEX's Main Board in 2015. In the Project, as the PRC legal advisor to Legend Biotech (the “Issuer”), JunHe provided the Chinese legal advice for the HKEX approval matters relating to Genscript Bio’s splitting of Legend Biotech for the IPO in the US, conducted the legal DD investigations of the Issuer's domestic subsidiaries, drafted, reviewed and amended the application and issuance documents relating to the IPO, issued the Chinese legal opinions, and assisted Legend Biotech in responding to the feedback questionnaires from the SEC and the Nasdaq on the IPO application of Legend Biotech.


The Project is the 5th life science and health industry IPO completed by JunHe in 2020, following the IPOs of I-MAB Biopharma Co., Ltd., Suzhou Zelgen Biopharmaceuticals Co., Ltd., Bio-Thera Solutions, Ltd., and HitGen Inc.


The lead partners of the Project are WANG, Yi and LI, Chenliang.


JunHe is the only Chinese law firm to be admitted as a member of Lex Mundi and Multilaw, two international networks of independent law firms. JunHe and selected top law firms in major European and Asian jurisdictions are “best friends.” Through these connections, we provide high quality legal services to clients doing business throughout the world.