On July 3, 2025, Cloudbreak Pharma Inc. (“Cloudbreak Pharma”, stock code: 02592.HK) was successfully listed on the Main Board of the Hong Kong Stock Exchange. The company issued a total of 60,582,000 shares globally in its IPO, priced at HK$10.10 per share, raising gross proceeds of approximately HK$612 million.

Cloudbreak Pharma is an innovation-driven clinical-stage ophthalmology biotechnology company dedicated to the development of novel and differentiated treatments, and  discovery and commercialisation of first-in-class and best-in-class ophthalmic therapies to address global unmet medical needs.

In this listing, Hogan Lovells served as the issuer’s Hong Kong and U.S. legal counsel, Haiwen & Partners acted as the issuer’s PRC legal counsel, and JunHe provided legal services related to PRC and U.S. intellectual property law. Ashurst Hong Kong and Jingtian & Gongcheng advised the joint sponsors and underwriters on Hong Kong and U.S. law, and PRC law, respectively.