Hengrui Pharma Lists on HKEX, Medtronic Splits Diabetes Unit, Sanofi Acquires Vigil Neuroscience for $470M to Advance Alzheimer’s Therapy

Hengrui Pharma willIn5Month23DayOfficially listed on the Hong Kong Stock Exchange, becoming another“A+H”Pharmaceutical companies listed in two places.

It is reported that,Hengrui Pharma Proposes Global Offering2.245198100 million shares, accounting for the Hong Kong public offering5.5%, International Distribution Ratio94.5%According to the information from Cailian Press, Hengrui Pharma will not exercise the over-allotment option in this HKEX listing.5Month21On [date], Hengrui Pharma announcedHThe pricing of the share issuance is44.05Hong Kong Dollar/Shares. In summary, this time HengruiIPOTotal Fundraising98.9HKD billion. This timeIPOCornerstone investors include GIC of Singapore.（GIC）, Invesco（Invesco）, UBS Asset Management, Hillhouse Capital, etc., with a total subscription amount of5.33Billion US dollars(Approximately41.31HKD billion)。

Local time5Month21Medtronic announced that it will spin off its diabetes business into a new independent public company (tentatively named).New Diabetes Company). Current Executive Vice President and President of Medtronic's Diabetes BusinessQue DallaraWill serve as the CEO of the new company (CEO）。

Medtronic is expected to18Completed the spin-off within months through a series of capital market transactions, with the preferred route being an initial public offering (IPO).IPO) afterward. This is expected to appropriately capitalize the newly spun-off company and provide the ability to divest from Medtronic. The spin-off will include employees from the diabetes business, product portfolio, pipeline, intellectual property, strategic partnerships, and global production facilities.

5Month22Sanofi announced the acquisition of a clinical-stage biotechnology companyVigil Neuroscience(hereinafter referred to as "Vigil”）。

It is reported that,VigilIs a publicly traded company focused on innovative therapies for neurodegenerative diseases, with its core asset being an oral small molecule drug.VG-3927——ATREM2(Myeloid cell trigger receptor2) agonist. The drug works by activatingTREM2Protein, which is expected to enhance the neuroprotective function of microglia, improving abnormal immune regulation and neurodegenerative changes in the brains of Alzheimer's patients. Notably,VigilAnother R&D projectVG-101Not within the scope of this acquisition, this transaction focuses onVG-3927Development potential.

According to the transaction agreement, Sanofi will pay per share8Cash Price Acquisition in USDVigilAll outstanding shares, total transaction valuation approximately4.7billion dollars. In addition, the deal includes a contingent value right (CVR) Clause: IfVG-3927In order to achieve the first commercial sale in the future,VigilShareholders may receive an additional amount per share2Deferred cash payment in USD.