Press Release

Akeso Completes Pricing of HK$1.2 Billion Follow-On Public Offering

March 28, 2024

Shanghai – March 28, 2024 – Cooley advised Akeso, Inc. (Hong Kong Exchange code: 9926.HK), a commercial-stage biopharmaceutical company committed to discovering, developing, manufacturing and commercializing innovative medicines that address global medical needs, on its HK$1.2 billion follow-on public offering. Lawyers Yiming Liu, Ying Liu and April Wang led the Cooley team advising Akeso, which also included Michael Yu and Yiying Wang.

Akeso offered an aggregate of 24,800,000 shares, priced at HK$47.65 per share. Proceeds from the offering will be used for the research and development of various preclinical programs advancing to investigational new drug stage, development of technology platforms, expediting the global clinical trials of key products, such as cadonilimab (AK104, PD-1/ CTLA-4) and ligufalimab (AK117, CD47), commercialization of cadonilimab and ivonescimab, and other general corporate purposes, where appropriate.

Cooley previously advised Akeso on its collaboration agreement with Pfizer in August 2021. The team also advised Akeso on its Hong Kong initial public offering in April 2020*.

* Transaction handled prior to joining Cooley.

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