Leads Biolabs Announces HK$1.29 Billion IPO

Hong Kong – July 25, 2025 – Cooley advised Nanjing Leads Biolabs Co. (Leads Biolabs), a clinical-stage biotechnology company that discovers, develops and commercializes new therapies in oncology, autoimmune and other severe diseases, on its HK$1.29 billion initial public offering (IPO).

Leads Biolabs offered 36,862,500 H shares priced at HK$35 per share – subject to overallotment options. The H shares of Leads Biolabs began trading on the Hong Kong Stock Exchange’s main board on July 25, 2025, under stock code 9887.HK.

Morgan Stanley and Citic Securities acted as joint sponsors for the offering. Morgan Stanley, CLSA and CMB International acted as the overall coordinators, joint global coordinators, joint bookrunners and joint lead managers. CCB International and Futu Securities also acted as joint bookrunners and joint lead managers.

The Cooley team advising Leads Biolabs was led by partners Michael Yu and Yiming Liu. They were assisted by counsels Kaiting Yang and Yiying Wang, associates Yunxiang Xu, Brian Lau, Alex Wu and Daniel Zheng, and international legal project managers Zoe Wang and Cindy Pan.

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