Sidley represented Qyuns Therapeutics Co., Ltd. (HKEX: 2509) (Qyuns) as Hong Kong counsel in its initial public offering (IPO) and H share listing on the Main Board of the Hong Kong Stock Exchange (HKEX) under Chapter 18A of the Hong Kong Listing Rules. The offering raised approximately HK$239 million (US$30.5 million). China International Capital Corporation Hong Kong Securities Limited acted as the sole sponsor in the transaction.
Founded in 2015, Qyuns is a clinical-stage biotech company exclusively focused on biologic therapies for autoimmune and allergic diseases, with a self-developed drug pipeline and an established commercial-scale in-house manufacturing capability.
The Sidley team was led by partner Sherlyn Lau, a member of Sidley’s Executive Committee and deputy head of the China Corporate and Finance Group. Other team members included counsel Iris Yuen; senior managing associate Scarlet Feng; associates Robin Liu, Chang Che, and Ashley Liu; China advisor Jiefei Yao; and senior legal assistants Wendy Ho, Suyang Ma, and Sancy Chen.
Sidley is one of the few international law firms that have represented the largest number of Chinese companies in Hong Kong IPOs. Since the launch of the Chapter 18A listing regime in April 2018, Sidley has been a market leader in advising biotech IPOs in Hong Kong. Notably, it is the only Band One firm ranked by Chambers Greater China Region/APAC in life sciences for 15 consecutive years. It has also been ranked in equity capital markets for more than a decade, and has received a number of independent recognitions from publications such as Financial Times APAC Innovative Lawyers, China Business Law Journal, The Asset and Legal 500 APAC.
Sidley’s China Life Sciences practice is an integrated part of the firm’s Global Life Sciences practice, which has more than 200 dedicated lawyers worldwide. Sidley advises clients along the full business lifecycle, from company formation, corporate governance (including incentive plans), and compliance operations for the startup phase; to product collaboration, licensing, commercialization, and regulatory filing matters in the business development phase; to initial public offerings, refinancings, and debt issuances in the capital-raising phase; to further significant transactions including domestic and cross-border mergers and acquisitions, asset restructurings, and privatizations, as well as dispute resolution.
