Global law firm Clifford Chance has advised Keymed Biosciences (Chengdu) Co., Ltd. on its out-licensing transaction with Belenos Biosciences, Inc.to exclusively develop, manufacture and commercialise Keymed’s drug candidates, the bispecific antibodies CM512 and CM536 for global markets excluding Greater China. Bispecific antibodies are primarily used to treat a variety of diseases, particularly in the field of oncology and immunology.
As part of the transaction, iBridge HK Holdings Limited (a wholly-owned subsidiary of Keymed) will take a 30.01% equity interest in Belenos.
Shanghai partner Yang Yi said, “It’s an honour advising Keymed on this strategic transaction which highlights our expertise in innovative, cross-border and IP-driven transactions in the healthcare sector.”
Yi led a cross-border team of lawyers in Düsseldorf, Hong Kong, New York and Washington, D.C. advising on M&A, antitrust, intellectual property and equity investment aspects. The team comprised:
- Beijing: Partner Bai Yong, counsel Dayu Man
- Düsseldorf: Counsel Carolin Kemmner and associate Annabel Joschko;
- Hong Kong: Counsel Yuling Geng, senior associate Michael Yan;
- New York: Partners Andrew Epstein, Jason W. Parsont and Matthew Warner, counsel Daryl Fairbairn and Lauren Rackow and associate Vicki Ye; and
- Washington D.C.: Partners Brian Concklin and Renee Latour and associate Elyssa Wenzel.
New York partner Matthew Warner said, “This transaction reflects the amazing, collaborative teams we have across the globe. It was a pleasure to work with our colleagues in Shanghai, Hong Kong and Germany to provide cohesive healthcare and US investment advice for Keymed on a transaction that will further strengthen its network and the value of its platform.”
The firm has a track record of advising on landmark and innovative transactions in the healthcare and life sciences sector including advising Sciclone Pharmaceuticals on its HK$8.79 billion privatisation by GL Capital, Haier Group on the global regulatory filings for its acquisition of a 20% equity stake in blood products company Shanghai RAAS from Grifols and medical devices company MicroPort Scientific Corporation on its convertible loan facility and credit support.
