NAME: Structure Therapeutics’ IPO on Nasdaq

LAW FIRM: JunHe, Zhong Lun Law Firm, Cooley, Latham & Watkins


PRACTICE AREAS: Capital markets

INDUSTRY SECTORS: Pharmaceuticals and life sciences

The initial public offering (IPO) of Structure Therapeutics’ on Nasdaq is our deal of the month for February.

Structure Therapeutics, a clinical-stage biopharmaceutical company, raised $185.3 million in its IPO on Nasdaq earlier this month, joining a slew of biotech companies to stage a comeback on the IPO market. The offering marked the first sizable US life sciences IPO this year.

Leveraged on its structure-based drug discovery platform, the firm aims to overcome the current limitations of biologic and peptide drugs by developing oral small molecule drugs that can deliver biologic-like activity with specificity. Its lead product candidate targets Type 2 diabetes mellitus(T2DM), obesity and pulmonary diseases.

Prior to the IPO, the firm was valued at more than $300 million. Sequoia Capital China and Hillhouse Group are among the investors backing the firm.

A team led by Jing (Anthony Zhao) and William Jia from Zhong Lun Law Firm acted as the PRC legal advisor to Structure Therapeutics. Lawyers Charlie Kim, Patrick Loofbourrow, Andrew Harline and Su Lian Lu led the Cooley team that advised the issuer.

JunHe and Latham & Watkins advised the joint bookrunners that included Jefferies, SVB Securities, Guggenheim Securities and BMO Capital Markets.