Appleby advises CANbridge Pharmaceuticals on strategic share issuance and cooperation agreement
Appleby acted as Cayman Islands counsel to CANbridge Pharmaceuticals Inc. 北海康成制药有限公司, listed on the Main Board of the Hong Kong Stock Exchange (stock code: 1228), in relation to its allotment and issuance of 74,971,468 ordinary shares to Baheal Wellness Industry International Trading Limited (百洋健康产业国际商贸有限公司) (“Baheal Wellness Industry”) for gross proceeds of HK$100.46 million.
CANbridge CARE Pharma Hong Kong Limited (北海康成珍爱药业香港有限公司) (“CANbridge CARE Pharma”), CANbridge (Shanghai) Life Sciences Ltd. (北海康成（上海）生物科技有限 公司) (“CANbridge Shanghai”) and Beijing Baheal Zhihe Medical Achievement Transformation Service Co., Ltd. (北京百洋智合医学成果转化服务有限公司) (“Baheal Zhihe”) entered into the Strategic Cooperation and Exclusive Marketing Service Agreement, pursuant to which CANbridge CARE Pharma and CANbridge Shanghai agreed to exclusively engage Baheal Zhihe as the CSO for marketing services for the products (namely Hunterase®, Livmarli® and Gaurunning®) in Mainland China, Hong Kong and Macau, subject to the upstream licence agreements between the relevant members of the Group and the respective licensors of these products.
The Hong Kong team was led by Vincent Chan, Partner of Appleby’s Hong Kong office.
CANbridge is a global biopharmaceutical company leveraging its foundation in China to develop and deliver therapeutics for rare diseases and rare oncology worldwide. It engages in the research, development and commercialisation of medical products.
Baheal Zhihe, a wholly-owned subsidiary of Baheal Wellness Industry, is committed to cultivating medical technology products and solutions with independent intellectual property rights in the PRC, based on the subscriber’s professional commercialisation capabilities, scientific and technological innovation resource integration and incubation capabilities.
