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Leading global law firm Herbert Smith Freehills has advised Morgan Stanley and J.P. Morgan as joint sponsors of biopharmaceutical company Abbisko Cayman Limited (02256.HK)'s Main Board listing on the Stock Exchange of Hong Kong.

Abbisko focuses on small molecule precision oncology and small molecule immuno-oncology therapies. Since its founding in 2016, the company has developed a pipeline of 14 drug candidates, five of which are now at clinical stage.

Abbisko listed on 13 October 2021 and the IPO raised approximately HK$1.754 billion (approximately US$225 million).

"We are delighted to have worked with Abbisko on its successful listing on the HKEx," said Hong Kong partner Matt Emsley. "Abbisko is dedicated to the discovery and development of innovative and differentiated small molecule oncology therapies and has strategically designed and developed a diversified pipeline of 12 programs with global R&D and commercialisation rights and selectively in-licensed two programs."

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), Brii Biosciences (02137.HK), Shanghai HeartCare Medical Technology (06609.HK) and Acotec Scientific Holdings Limited (06669.HK).

"We expect to see more biotech listings in the future, as healthcare remains an area of investor interest,” said Herbert Smith Freehills Kewei joint operation partner Stanley Xie. "We congratulate Abbisko and the sponsors on this successful IPO."

The global oncology drug market was valued at US$150.3 billion in 2020, is expected to reach US$304.8 billion in 2025 at a CAGR of 15.2%, and to grow further to US$482.5 billion in 2030 at a CAGR of 9.6% from 2025 to 2030. Precision oncology and immuno-oncology therapies in which Abbisko specialises are expected to account for approximately 90% of the global oncology drug market by 2030.

Matt and Stanley jointly led the team advising the sponsors, assisted by counsel Jin Kong, senior associate Maisie Ko, associates Echo Shen and Bryan Cheung, trainee solicitor Yolanda Lau, and legal manager Hilary Chong in Hong Kong. The Shanghai joint operation office counsel Agatha Shen, associates Sean Ji and Jessica Sun, legal assistant Han Ye, as well as Hong Kong legal assistants Tiffany Chan, Mona Wang and Karen Sung also provided support.

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 legal analyst Shawna Peng.




史密夫斐尔香港办公室合伙人艾迈修(Matt Emsley)表示:“我们非常荣幸为和誉在港交所上市提供助力。和誉致力于发现及开发创新且差异化的小分子肿瘤疗法,并战略性地设计并开发了一条多样化管线,当中包含12个拥有全球研发和商业化权力的项目及2个精选的授权引进项目。”




合伙人艾迈修和谢守德率领律师团队为此次上市联席保荐人提供法律服务。主要团队成员包括香港办公室资深顾问孔瑾、高美诗(Senior Associate)、沈黄贇(Associate)、张皓阳(Associate)、刘昕瑜(Trainee Solicitor)和种欢子(Legal Manager)。上海联营办公室资深顾问沈雪琦、季晓源(Associate)、孙菁(Associate)、叶晗(Legal Assistant)以及香港办公室陈可宜(Legal Assistant)、王梦(Legal Assistant)和宋颖芝(Legal Assistant)也提供了支持。

姚硕(Associate Director)率领的科伟史密夫斐尔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,主要成员包括彭祺程(Legal Analyst)。


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Matthew Emsley photo

Matthew Emsley

Managing Partner, China, Hong Kong

Matthew Emsley
Stanley Xie photo

Stanley Xie

, Hong Kong

Stanley Xie

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Sally Greig

Head of Communications, Asia

Hong Kong

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Vivian Huang

Communications Manager, China