Transaction Overview
Innocare is a clinical stage biopharmaceutical company committed to discovering, developing and commercializing potential best-in-class and/or first-in-class drugs for the treatment of cancer and autoimmune diseases. Led by a well-known management team of seasoned industry executives, Innocare has built a biopharmaceutical platform with strong in-house R&D capabilities
Innocare issued 250,324,000 shares (assuming the Over-allotment Option is not exercised). The offering price was set at HK$8.95, and the offering amount was approximately US$287 million (assuming the Over-allotment Option is not exercised). The offering has been widely recognized by international and domestic investors, and over-subscribed in International Offering and Hong Kong Offering. The investment from cornerstone investors represented approximately 50.00% of the total offer size (assuming the Over-allotment Option is not exercised), and Hong Kong Public Offering has been 298.75 times subscribed
Acting as the Joint Bookrunner and Joint Lead Manager, CMBI has introduced Orient Sun Rise Global Superior Choice SPC (Foresight Fund Management Co., Ltd, an asset management company founded by Mr. Guangming Chen, is the investment advisor of the funds. ) In addition, CMBI also assisted the company to introduce a number of International long-only funds, healthcare-specialist funds and top Chinese long-only funds and insurance funds, perfectly demonstrating CMBI's broad investor coverage and strong underwriting capability. The Company thought highly of the contribution of CMBI in underwriting process, especially contribution to the high-quality book.
About Innocare
Innocare is a clinical stage biopharmaceutical company committed to discovering, developing and commercializing potential best-in-class and/or first-in-class drugs for the treatment of cancer and autoimmune diseases. Led by a well-known management team of seasoned industry executives, Innocare has built a biopharmaceutical platform with strong in-house R&D capabilities. Innocare’s vision is to become a global biopharmaceutical leader that develops and delivers innovative therapies for patients worldwide.
Leveraging management team’s global vision and local expertise, Innocare has built a balanced drug portfolio. Innocare’s drug candidates are targeting both evidence-based and novel biological pathways. Innocare’s discovery and development efforts are focused on drug candidates with evidence-based targets that have the potential to be best-in-class from a safety and efficacy perspective. Innocare also devotes significant efforts in identifying novel targets and developing therapies with global breakthrough potential. In less than four years, Innocare’s team has discovered and developed a pipeline of nine drug candidates, including one candidate in registrational trials, two candidates under clinical evaluation in Phase I/II trials and six candidates at the IND-enabling stage. Innocare’s strategy is to rapidly advance clinical programs and seek approval to commercialize product candidates in China. At the same time, Innocare is expanding clinical trials globally including the United States for promising indications to maximize the commercial value of assets.
Source: Prospectus
