Leading international law firm Herbert Smith Freehills has advised innovative global healthcare company Sanofi on its €300 million strategic equity investment in Chinese biopharmaceutical company Innovent Biologics.
The transaction sees Sanofi invest €300 million in Innovent through subscription of new common shares at HK $42.42 per share. Subject to mutual agreement, Sanofi will have the right to acquire additional Innovent new common shares for €300 million.
Sanofi has also formed a strategic collaboration with Innovent to accelerate the development of Sanofi's oncology medicines and expand its presence in China.
The Herbert Smith Freehills team was led by Hong Kong partner Jeremy Shen, assisted by senior associate Jaime Fong and associate Samuel Au. "We are delighted to have advised Sanofi on this tremendous investment in a Chinese biopharmaceutical company," said Jeremy. "We congratulate Sanofi on its second successful equity investment in the Chinese healthcare sector in recent months."
In July, Herbert Smith Freehills and its joint operation partner Kewei in Shanghai advised Sanofi on its participation in the initial public offering and Hong Kong listing of Chinese technology solutions services provider ClouDr as a cornerstone investor. Kewei international partner Gavin Guo led the Kewei team on both transactions.
"Herbert Smith Freehills and Kewei are clear market leaders in China, and we are pleased to leverage our strength to help our longstanding client to achieve its strategic objectives," said Hubert Segain, Head of Corporate in Paris.
史密夫斐尔香港办公室合伙人沈志良（Jeremy Shen）率领律师团队为赛诺菲提供咨询，方靖颐（Senior Associate）和区健聪（Associate）提供协助。沈志良表示：“我们很荣幸能够在赛诺菲向中国生物制药公司进行的这笔巨额投资中提供法律建议。衷心祝贺赛诺菲成功完成了近几个月来在中国医疗健康行业的第二笔股权投资。”
史密夫斐尔巴黎公司事务主管合伙人Hubert Segain表示： “史密夫斐尔和科伟都是中国市场的领先律所，我们很高兴能够凭借优势，助力我们的长期客户实现其战略目标。”