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Forlong Biotechnology Secures Series A Funding for Protein Drug Development
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Forlong Biotechnology, a synthetic immunology-driven protein drug developer based in Suzhou, has reportedly raised upwards of RMB 100 million (USD 14.74 million) in a Series A financing round. This significant capital injection will support the company’s ongoing efforts in research and development (R&D), pipeline filing and clinical trials, and business…
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Haisco Pharmaceutical Announces Public Offering for Clinical Studies
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China-based Haisco Pharmaceutical Group Co., Ltd (SHE: 002653) is set to make another public offering of 40 million shares, priced at RMB 20 (USD 2.95) per share, to the Shenzhen Stock Exchange. This move aims to raise significant capital for the company’s ongoing drug development initiatives. Use of ProceedsThe proceeds…
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BDgene’s CRISPR-Cas9 Therapy BD111 Accepted for CDE Review
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Shanghai BDgene Technology Co., Ltd has announced that a clinical trial filing for its BD111, a CRISPR-Cas9 in vivo-based therapy for herpes simplex virus (HSV)-related keratitis (HSK), has been accepted for review by the Center for Drug Evaluation (CDE). This marks a significant step forward in the development of innovative…
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JunTop Biosciences’ COVID-19 Therapy Mindewei Priced at RMB 795 per Course
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Sichuan’s provincial Healthcare Security Administration bureau has notified that Shanghai JunTop Biosciences Co., Ltd’s COVID-19 therapy Mindewei (deuremidevir) is to be initially quoted at RMB 795 (USD 117.23) per treatment course. This pricing announcement marks the entry of Mindewei into the market, offering a new treatment option for mild to…
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Ji Xing Pharmaceuticals Acquires Global Rights to PhaseBio’s PB6440
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Shanghai-based Ji Xing Pharmaceuticals, backed by RTW Investments, has announced a deal to obtain global rights to US firm PhaseBio Pharmaceuticals Inc.’s pre-clinical drug candidate PB6440. This strategic partnership aims to advance the development of a next-generation aldosterone synthetase inhibitor (ASi) with significant potential in treating cardiovascular, renal, and metabolic…
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Mabwell’s Novel ADC 9MW2921 Accepted for NMPA Review
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China-based Mabwell (Shanghai) Bioscience Co., Ltd (SHA: 688062) has announced that a clinical trial filing for its novel antibody-drug conjugate (ADC) 9MW2921 has been accepted for review by the National Medical Products Administration (NMPA). The firm is seeking to assess the ADC as a treatment for general solid tumors, marking…
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Amgen Reports Q4 and Full-Year 2022 Financials with Global Sales Growth
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US major Amgen (NASDAQ: AMGN) has released its Q4 and full-year 2022 financials. Global sales were up 3% year-on-year (YOY) to USD 26.3 billion, excluding foreign exchange impacts. In Q4, sales were relatively flat at 2%, reaching USD 6.8 billion. This performance reflects Amgen’s continued strength in key therapeutic areas…
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GSK Reports Strong Q4 and Full-Year 2022 Financials Amid Strategic Shift
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UK-based GlaxoSmithKline plc (NYSE: GSK) has released its financial report for Q4 and the full-year 2022, revealing strong performance since spinning off its consumer health division last year. The strategic shift in focus to vaccines and specialty medicines produced 13% year-on-year growth in global sales to GBP 29.3 billion (USD…
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China’s NMPA Releases 64th Batch of Reference Drugs for Generic Quality Consistency Evaluation
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China’s National Medical Products Administration (NMPA) has released the 64th batch of reference drugs for generic quality consistency evaluation (GQCE) work. The latest release includes 53 new specifications, involving nine injectables and 10 specifications with modifications. Details of the ReleaseThe new batch of reference drugs is part of the ongoing…
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Bristol-Myers Squibb’s Ozanimod Approved in China for Multiple Sclerosis
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Bristol-Myers Squibb (BMS, NYSE: BMY) has announced receiving marketing approval from China’s National Medical Products Administration (NMPA) for its ozanimod, a novel selective sphingosine-1-phosphate (S1P) receptor modulator. The drug is now approved to treat recurrent multiple sclerosis (MS), including clinically isolated syndrome, relapsing-remitting multiple sclerosis, and active secondary progressive multiple…
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Roche Reports 2% YOY Growth in 2022; Ocrevus and Hemlibra Drive Sales
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Swiss pharmaceutical giant Roche (SWX: RO) released its 2022 financial report this week, recording CHF 63.3 billion (USD 69.5 billion) in global sales. The company achieved a modest 2% year-on-year (YOY) growth at constant exchange rates (CER), impacted by lower COVID-19-related sales across both its Pharmaceuticals and Diagnostics divisions. Pharmaceuticals…
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Merck & Co. Posts 22% YOY Sales Growth; Keytruda and Gardasil Drive Revenues
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Merck & Co. (NYSE: MRK) has released its Q4 and full-year 2022 financial report, showcasing a robust performance with 22% year-on-year (YOY) growth in annual global sales to USD 59.3 billion. Excluding sales of COVID-19 therapy Lagevrio (molnupiravir) and foreign exchange impacts, growth was 15%. However, Q4 performance saw a…
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Takeda Posts Strong Q3 Results, Announces Pipeline Advances in Oncology and Rare Diseases
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Japan-based pharmaceutical giant Takeda (TYO: 4502, NYSE: TAK) has announced its financial results for the third quarter of the fiscal year 2022, ending December 31, 2022. The company reported a 13.9% year-on-year (YOY) increase in global revenues to JPY 3,071 billion (USD 23.882 billion). Core revenues, excluding currency exchange impacts,…
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GenScript’s CAR-T Therapy Carvykti Achieves $55M in Sales, Awaits China Approval
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China-based Contract Research Organization (CRO) GenScript Biotech Corporation (HKG: 1548) has announced that sales of its subsidiary company Legend Biotech Corporation’s (NASDAQ: LEGN) BCMA-directed chimeric antigen receptor T cell (CAR-T) therapy, Carvykti (ciltacabtagene autoleucel), reached USD 55 million as of December 31, 2022. This figure, yet to be independently audited,…
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Zhejiang Gongdong to Acquire Trademark Plastics for Overseas Expansion
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China-based Zhejiang Gongdong Medical Technology Co., Ltd is set to acquire core assets of US firm Trademark Plastics, Inc. for USD 42 million. This strategic move aims to enhance the company’s overseas manufacturing capabilities and achieve synergies through complementary product portfolios. Acquisition DetailsFounded in 1989, Trademark Plastics, Inc. (TPI) specializes…
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Innovent Biologics Posts Strong Q4 Revenues Amid COVID-19 Challenges
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Innovent Biologics Inc. (HKG: 1801) announced product revenues of RMB 1 billion (USD 148.2 million) during Q4 2022. Despite COVID-19 disruptions impacting sales, the company managed to offset these challenges with strong performances from new products and its anti-tumor drug Cyramza (ramucirumab), which was launched during the period. Innovent expects…
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Shanghai Weimu Medical Raises Pre-Series A+ Funding for Clinical Development
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China-based high-end interventional device maker Shanghai Weimu Medical Technology Co., Ltd has reportedly raised “tens of millions” of renminbi in a pre-Series A+ financing round. The round was led by Woyong Fund. The proceeds will be used to accelerate the clinical development of core pipelines, marking a significant step in…
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MicroPort Endovascular Plans RMB 2.55 Billion Private Placement
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China-based Shanghai MicroPort Endovascular MedTech Co., Ltd (SHA: 688016) plans to raise up to RMB 2.55 billion (USD 378 million) via a private placement. The proceeds will be used to fund several strategic initiatives, including the development of its global headquarters and innovation and industrialization plan projects, research into peripheral…
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OcuMension’s Phase I Study for Dry Eye Treatment OT-202 Concludes
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Chinese ophthalmology specialist OcuMension Therapeutics (HKG: 1477) has announced the conclusion of a Phase I clinical study for its OT-202, a tyrosine kinase inhibitor (TKI) being developed to treat dry eye. This marks a significant step in the development of innovative treatments for this common condition. Study Design and ResultsThe…
