Correspondence 0001104659-23-099885 from Adlai Nortye Ltd. (ANL)
Adlai Nortye Ltd.
Date: Sept. 12, 2023 · CIK: 0001944552 · Accession: 0001104659-23-099885
AI Filing Summary & Sentiment
File numbers found in text: 333-273465
Referenced dates: August 16, 2023
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O’Melveny & Myers LLP
Yin Tai Centre, Office Tower
37th Floor
No.2 Jianguomenwai Avenue
Beijing 100022
People’s Republic of China
T: +86 10 6563
4200
F: +86 10 6563
4201
omm.com
September 12, 2023
CONFIDENTIAL
Ms. Jenn Do
Ms. Angela Connell
Mr. Jimmy McNamara
Ms. Laura Crotty
Division of Corporation Finance
Life Sciences
United States Securities and Exchange
Commission
100 F Street, N.E.
Washington, D.C. 20549
Re: Adlai Nortye Ltd.
File No. 333-273465
Response to the Staff’s Comment Letter Dated August 16, 2023
Dear Ms. Do, Ms. Connell, Mr. McNamara, and Ms. Crotty:
On behalf of our client, Adlai
Nortye Ltd., a foreign private issuer organized under the laws of the Cayman Islands (the “Company”), we submit to
the staff (the “Staff”) of the Securities and Exchange Commission (the “Commission”) this letter
setting forth the Company’s responses to the comments contained in the Staff’s letter dated August 16, 2023 on the Company’s
Amendment No. 1 to registration statement on Form F-1 submitted on August 10, 2023 (the “Amended Registration Statement”).
Concurrently with the submission
of this letter, the Company is filing Amendment No. 3 to its registration statement on Form F-1 (the “Further Amended Registration
Statement”) via EDGAR to the Commission for review. The changes reflected in the Further Amended Registration Statement include
those made in response to the comments of the Staff set forth in the Staff’s letter of August 16, 2023. In addition, we would like to inform the Staff that the Company has updated its financial statements to reflect data up to the period
ended June 30, 2023.
The Staff’s comments
are repeated below in bold and are followed by the Company’s responses. We have included page references in the Further Amended
Registration Statement where the language addressing a particular comment appears. Capitalized terms used but not otherwise defined herein
have the meanings set forth in the Further Amended Registration Statement.
Austin • Century City • Dallas • Los Angeles • Newport Beach • New York • San Francisco • Silicon Valley • Washington, DC
Beijing • Brussels • Hong Kong • London • Seoul • Shanghai • Singapore • Tokyo
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Amendment No. 3 to Registration Statement
on Form F-1
General
1. We note the changes you made to your disclosure appearing on the cover page,
Summary and Risk Factor sections relating to legal and operational risks associated with operating in China and PRC regulations. It is
unclear to us that there have been changes in the regulatory environment
in the PRC since the amendment that was filed on July 27, 2023, warranting revised disclosure to mitigate the challenges you face and
related disclosures. The Sample Letters to China-Based Companies sought specific disclosure relating to the risk that the PRC government
may intervene in or influence your operations at any time, or may exert control over operations of your business, which could result in
a material change in your operations and/or the value of the securities you are registering for sale. We remind you that, pursuant to
federal securities rules, the term “control” (including the terms “controlling,” “controlled by,”
and “under common control with”) as defined in Securities Act Rule 405 means “the possession, direct or indirect, of
the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities,
by contract, or otherwise.” The Sample Letters also sought specific disclosures relating to uncertainties regarding the enforcement
of laws and that the rules and regulations in China can change quickly with little advance notice. We do not believe that your revised
disclosure referencing the PRC government’s intent to strengthen its regulatory oversight conveys the same risk. Please restore
your disclosures in these areas to the disclosures as they existed in the registration statement as of July 27, 2023
In response to the
Staff’s comment, the Company has fully restored most of its disclosures on the cover page, Summary and Risk Factor sections
relating to legal and operational risks associated with operating in China and PRC regulations as they existed in the registration
statement as of July 27, 2023, except for certain disclosures on the cover page, on pages 6-7 of the Summary section, and on pages
56, and 66-67 of the Risk Factor section.
The Company respectfully submits that the revisions have been made following Sample Letters' guidance and have reflected the risks as
a company has substantial business operations in China.
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Austin • Century City • Dallas • Los Angeles • Newport Beach • New York • San Francisco • Silicon Valley • Washington, DC
Beijing • Brussels • Hong Kong • London • Seoul • Shanghai • Singapore • Tokyo
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If you have any questions
regarding the Further Amended Registration Statement, please contact the undersigned at +86 13910939617 / +86 10 6563 4261 / kgeng@omm.com,
Vincent Lin of O’Melveny & Myers LLP at +86 13601656082 / +86 21 2307 7068 / vlin@omm.com, or Howard Leung, partner at Mazars
USA LLP, at (347) 831-1871 / howard.leung@mazarsusa.com. Mazars USA LLP is the independent registered public accounting firm of the Company.
Very truly yours,
/s/ Ke Geng
Ke Geng
Enclosures
cc:
Yang Lu, Director, Chief Executive Officer, Chairman of the Board of
the Company
Lars Erik Birgerson, President, Chief Medical Officer of the Company
Wei Zhang, Chief Financial Officer of the Company
Ke Geng, Esq., Partner, O’Melveny & Myers LLP
Allen C. Wang, Esq., Partner, Latham & Watkins LLP
Austin • Century City • Dallas • Los Angeles • Newport Beach • New York • San Francisco • Silicon Valley • Washington, DC
Beijing • Brussels • Hong Kong • London • Seoul • Shanghai • Singapore • Tokyo
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