Dechert Advises SK Holdings Co., Ltd. on US$6.5 million investment in Hummingbird Bioscience

 
May 14, 2020

Dechert has advised SK Holdings Co., Ltd., the holding company of South Korean energy and telecoms conglomerate SK Group, on its US$6.5 million investment in Hummingbird Bioscience, a biotherapeutics company. This is SK Holdings Co., Ltd.’s first investment in Hummingbird Bioscience, with funding to be used to accelerate the development of new candidates into clinical trials and strengthen scientific and research and development capabilities.

Dechert acted as legal advisor to long-time client SK Holdings Co., Ltd., which was the lead investor in Hummingbird Bioscience’s Series B extension funding round. SK Holdings Co., Ltd. continues to enhance its portfolio value by executing long-term strategic investments with a number of competitive subsidiaries in various business areas, including pharmaceuticals and life sciences, energy and chemicals, information and telecommunications, and semiconductors. 

Commenting on the deal, David Cho, Dechert’s Asia co-managing partner and lead partner on the transaction, said “We are delighted to have supported SK Holdings Co., Ltd. to secure their investment in Hummingbird Bioscience. This transaction showcased both the depth of Dechert’s Corporate and Securities  practice in Hong Kong and our ability to draw on our international network to provide thorough, strategic advice to our clients.” 

Dechert’s team was led by Hong Kong-based partner, David Cho (Corporate), with support from counsel Timothy Goh (Corporate) in Singapore, associate Susan Yoon (Corporate) in Hong Kong, as well as partner Darshak Dholakia (International Trade and Government Regulation) in Dechert’s Washington DC office.

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Dechert is a leading global law firm with 26 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.

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