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Leading global law firm Herbert Smith Freehills has advised neuro-interventional medical device manufacturer Shanghai HeartCare Medial Technology Corporation Limited (06609.HK) on its mainboard listing on the Stock Exchange of Hong Kong.

Shanghai HeartCare Medical focuses on reducing the mortality rate and improving the prognosis of stroke. Since founding in 2016, the company has commercialised four products and has a total of 19 approved products and product candidates covering all major stroke subtypes and surgical pathways in the neuro-interventional field, with ischemic stroke prevention product candidates to capture demand from the cardiac market.

The IPO raised approximately HK$1.13billion (US$143 million), and listed on 20 August 2021.

"We are delighted to have worked with Shanghai HeartCare Medical, one of the leading neuro-interventional medical device manufacturers on its successful listing on the HKEx," said Beijing partner Zhong Wang. "Domestic players are becoming increasingly important in addressing unmet medical needs in China. The ability to develop advanced products with features tailored to the needs of Chinese patients and physicians is expected to be one of the key distinguishing factors for successful competition in this market."

Herbert Smith Freehills has advised on a number of biotech listings since the Hong Kong exchange introduced its new regime for biotech listings in 2018, including those by Shanghai Junshi Biosciences (01877.HK), TOT BIOPHARM (01875.HK), SinoMab Bioscience Limited (03681.HK), Peijia Medical (09996.HK), Antengene Corporation Limited (06996.HK), CARsgen Therapeutics (02171.HK), and Brii Biosciences (02137.HK).

"We have longstanding experience of advising fundraisings in international capital markets and a robust record of working with healthcare clients,” said Beijing office partner Isaac Chen. "We congratulate Shanghai HeartCare Medical on this IPO and look forward to the company's continued success."

The ischemic stroke neuro-interventional device market in China increased from RMB381.1 million in 2015 to RMB1.9 billion in 2019 at a CAGR of 49.7%, and is expected to further increase to RMB25.4 billion in 2030 at a CAGR of 26.5% from 2019 to 2030.

Zhong and Isaac jointly led the team advising the issuer, assisted by senior associate Sherry Lai in Hong Kong, associates Kathy Zhang, Yuchen Zhu, Robert Li and Bryan Zhu, and legal assistants Yuanyuan Yin, Ted Zhang, Emma Chen and Aiye Jia in Beijing. London-based partner and head of US Securities Tom O'Neil and Hong Kong-based of counsel George Wu provided US securities law advice.

Associate director Lucy Yao led Herbert Smith Freehills Kewei Joint Operation’s Alternative Legal Services business to provide high-efficiency solutions for verification and other document-intensive processes during the offering, assisted by senior lawyer Helen Liang, legal specialist Selina Wang and legal analyst Shawna Peng.




史密夫斐尔北京办公室合伙人王重(Zhong Wang)表示:“心玮医疗是领先的神经介入医疗器械公司,我们非常荣幸为心玮医疗在港交所上市提供助力。在满足国内医疗器械市场的需求缺口方面,中国企业正在发挥越来越重要的作用。能够推出符合中国患者和医疗需求的产品,将是在这个市场成功的关键因素之一。”


北京办公室合伙人陈敏(Isaac Chen)表示:“史密夫斐尔长期助力客户在国际资本市场融资,在为医疗行业客户提供法律服务方面经验丰富。衷心向心玮医疗此次IPO表示祝贺,并期待公司继续取得成功。”


合伙人王重和陈敏率领律师团队为此次上市发行人提供法律服务。主要团队成员包括香港办公室黎翠芬(Senior Associate)、北京办公室张凯西(Associate)、朱雨辰(Associate)、李超(Associate)、朱步凡(Associate)、尹圆圆(Legal Assistant)、张刚(Legal Assistant)、陈阿婷(Legal Assistant)和贾瑷烨(Legal Assistant)。伦敦办公室合伙人、美国证券法主管合伙人Tom O'Neil 以及香港办公室资深顾问吴卓人就该笔交易的美国证券方面事宜提供咨询。

联营办公室替代性法律服务(ALT)联合团队在发行期间为招股书验证及其他文件密集型工作提供高效率的解决方案,主要成员包括梁琳(Senior Lawyer)、王思颖(Legal Specialist)和彭祺程(Legal Analyst)。


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Sally Greig

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Hong Kong

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Vivian Huang

Communications Manager, China