DeHeng Advised Asymchem Laboratories (Tianjin)

on Obtaining CSRC Approval for Private Placement of A Shares

2020-08-18

On August 17, 2020, the private placement of A-shares by Asymchem Laboratories (Tianjin) Co., Ltd. was approved by the Public Offering Review Committee of China Securities Regulatory Commission (CSRC). Asymchem plans to issue in private no more than 18.7 million shares to no more than 35 specific eligible investors by the criteria of the CSRC, and raise no more than RMB 2,310.572 million. 

Asymchem (002821.SZ) is a world-leading one-stop integrated CDMO service provider for the development and production of new drugs. It is committed to accelerating the launch of new drugs and improving the quality of life. Through continuous technological innovation, it provides efficient and high-quality R&D and production services for large and medium-sized pharmaceutical companies and biotechnology companies at home and abroad, and accelerates the clinical research and commercialization of innovative drugs. It aspires to become a partner in global new drug R&D and production that "supports global drug R&D and production through continuous technological innovation, and provides customers with high-quality and efficient one-stop services."

After deducting the issuance expenses, the money raised from this non-public offering will be used for the expansion of the one-stop service platform for innovative drugs of the Asymchem Life Science and Technology (Tianjin) Co., Ltd., the construction of the R&D and production platform for biomacromolecule innovative drugs and preparations, and the construction of the innovative drug CDMO production base. These investments in preparations and biological drug CDMO fields go along with the current development trend of the industry, and moreover align with the company's strategic development goals and China's industry policies.

As the legal counsel for the non-public offering, DeHeng team was led by partners Xu Jianjun and Sun Yanli, with primary support from Ma Quan, Zhang Xiaotong and Di Shuang. After the CSRC issued a series of new regulations on refinancing in February 2020, DeHeng lawyers responded quickly, cooperated closely and actively with the issuer, First Capital Securities and other stakeholders, assisted the client in revising the private placement scheme, and provided comprehensive and professional legal opinions for the client. In the future, DeHeng will continue to provide professional legal services for Asymchem in the capital market.