Ropes & Gray Represents China Biotech LianBio in $310 Million Crossover Financing
Ropes & Gray represented Shanghai-based biotechnology LianBio in a $310 million oversubscribed crossover financing, following its founding and initial financing provided by life sciences investment firm Perceptive Advisors. Proceeds will fund advancement of LianBio’s global innovation mining platform and diversified portfolio of product candidates to develop therapies for patients in China and other Asian markets. The transaction was announced on October 29, 2020.
The financing was co-led by U.S. investors RA Capital and Venrock Healthcare Capital Partners and Chinese investor CMG-SDIC Capital. Other leading specialist investors in the round included: funds and accounts managed by BlackRock, Casdin Capital, Farallon, Logos Capital, Perceptive Advisors, Pfizer Inc., Sphera Healthcare, funds and accounts advised by T. Rowe Price Associates, Inc., Tybourne Capital Management, Vida Ventures, Viking Global Investors and Wellington Management.
The Ropes & Gray team was led by life sciences partner Eric Wu and life sciences associates Alyce Chen and Giselle Lai (all of Shanghai), and included IP transactions partner Melissa Rones (Boston), litigation & enforcement partner Ama Adams (Washington, D.C.), and IP transactions counsel David Chen (Shanghai).