岸迈生物拟港股上市，此前靠对外授权补血近5亿

Chuan Sun, Managing Partner of Morrison Foerster’s Shanghai office, was quoted in an article titled "EpimAb Biotherapeutics Plans Hong Kong IPO After Raising Nearly 500 Million RMB Through Out-Licensing Deals" published by Jiemian. The article reported on EpimAb Biotherapeutics’ HK IPO filing progress and reflected on Chinese drug firms’ globalization footprints via NewCo.

Chuan said that compared to traditional out-licensing models, the NewCo model introduces a certain level of added complexity.

According to Chuan, NewCo is a hybrid structure that combines licensing transactions with financing, and places higher demands on the founders of the new biotech company (the NewCo). “They not only need to form a company and raise capital, but also persuade executives to join the new entity and agree to develop and commercialize the relevant products,” he explained. In the future, they must also help ensure the company is effectively governed. This means that under the NewCo model, the fate of the product involved carries a relatively high degree of uncertainty.

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