2021.03.21
JunHe, as the exclusive domestic legal counsel of Arctic Vision (hereinafter referred to as the “company"), assisted the company in completing its series B financing of more than USD 100 million (hereinafter referred to as "the project"). JunHe also provided full legal services for the company in this transaction. This round of financing was led by Loyal Valley Capital, and participated in by Tencent, Octagon Capital and Dr. Zheng Zhigang, the entrepreneur behind New World Development. Former shareholders Nan Fung Life Sciences, Pivotal bioVenture Partners China and Morningside increased their holdings.
Arctic Vision is a new drug R&D company with several products entering the clinical trial stage. It has a portfolio of breakthrough ophthalmic treatment technology. It focuses on cutting-edge innovative therapies in the ophthalmic industry and is committed to solving the unmet medical needs in the field of ophthalmic diseases by providing innovative therapies in China, Asia and around the world. The company's current development pipeline includes three imported products in the phase III clinical stage, namely ARVN001（锋脉®）for the treatment of macular edema associated with uveitis, ARVN002 for children with progressive myopia and ARVN003 for presbyopia treatment. ARVN001 was approved by the Investigational New Drug (IND) in China at the end of 2020, and its phase III clinical research is expected to be carried out throughout 2021. The applications for the clinical registration of ARVN002 and ARVN003 are currently in progress. In 2021, Arctic Vision plans to promote a variety of new pipeline varieties to clinical trial, and further expand its comprehensive strength in R & D, clinical registration and commercialization.
The project lasted six months from beginning to delivery. JunHe’s team had many rounds of communications and discussions and coordinated with multiple investors on the transaction arrangements, agreement text drafting and delivery arrangements. Finally, with vast experience in similar financing projects and their professional and rigorous legal services, the project team assisted the company to successfully complete the signing and delivery. JunHe’s team will again provide financing legal services for the company after previously working on the seed round and A round financing.
JunHe’s team was led by Partner LIU, Ning and Partner XIONG, Tao.
