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GeneScience’s Somatropin Wins NMPA Approval for Prader-Willi Syndrome
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China-based Changchun GeneScience Pharmaceutical Co., Ltd announced that it has received another indication approval from the National Medical Products Administration (NMPA) for its somatropin to treat Prader-Willi Syndrome (PWS). This latest approval marks the tenth indication for the company’s somatropin and represents the first approval for a home-grown growth hormone…
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Inmagene and HutchMed Dose First Patient in IMG-007 Global Phase I Study
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China-based Inmagene Biopharmaceuticals and HutchMed (NASDAQ: HCM, HKG: 0013) announced the completion of first patient dosing in a global Phase I clinical study for their IMG-007 in Australia. The drug, an antagonistic monoclonal antibody (mAb) targeting OX40, was discovered by HutchMed. Inmagene owns exclusive global option rights to the drug…
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ClinChoice Raises USD 150M in Funding Led by Legend Capital for Expansion
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Sino-US full-service Contract Research Organization (CRO) ClinChoice has reportedly raised USD 150 million in a financing round led by Legend Capital. Other investors included Taikang Life Insurance, Sherpa Healthcare Partners, Lilly Asia Ventures, Apricot Capital, and SIP Oriza Seed Fund. The proceeds will be used for business expansion, new business…
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InnoCare Pharma’s BCL2 Inhibitor ICP-248 Accepted for NMPA Review
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China’s Beijing InnoCare Pharma (HKG: 9969) announced that an investigational new drug (IND) filing for its in-house developed BCL2 inhibitor ICP-248 has been accepted for review by the National Medical Products Administration (NMPA). ICP-248 is a Category 1 innovative drug with independently held intellectual property rights. Drug ProfileInnoCare plans to…
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Shenzhen TargetRx Raises Hundreds of Millions in Series B Financing for Drug Development
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China-based Shenzhen TargetRx, Inc., a developer of small-molecule kinase inhibitors, reportedly raised “hundreds of millions” of renminbi in a Series B financing round, with investors undisclosed. The proceeds will go towards pivotal clinical studies for TGRX-678 and TGRX-326, development of other drug candidates, and product pipeline expansion. Company and ProductsFounded…
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Ascletis Pharma Files IND Application for ASC10 with US FDA
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China-based Ascletis Pharma Inc. (HKG: 1672) announced that it has filed an Investigational New Drug (IND) application for ASC10, an oral RNA-dependent RNA polymerase (RdRp) inhibitor being developed to treat COVID-19, with the US FDA following a pre-IND consultation. Drug ProfileASC10 is an orally bioavailable, double prodrug of the antiviral…
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MabPharm’s CMAB017 Receives NMPA Approval for Clinical Study in Solid Tumors
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Taizhou-based monoclonal antibody (mAb) biosimilars specialist MabPharm Ltd (HKG: 2181) announced that it has received approval from the National Medical Products Administration (NMPA) to conduct a clinical study of its Category 1 innovative drug candidate CMAB017 in advanced solid tumors. The trial will include patients with colorectal cancer, head and…
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Zhejiang Medicine’s NovoCodex Subsidiary Receives RMB 402M Investment
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China-based Zhejiang Medicine Co., Ltd (SHA: 600216) announced that investors will inject a financial dose of RMB 402 million (USD 60 million) into its subsidiary NovoCodex Biopharmaceuticals Ltd, amounting to a combined 12.94% stake in the firm. Milestones AchievedSince the closure of its Series A financing round, NovoCodex has achieved…
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Medicilon Biomedical Plans RMB 2.16B Private Placement for R&D Expansion
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China-based Shanghai Medicilon Biomedical Co., Ltd has announced plans to raise RMB 2.16 billion (USD 322 million) through a private placement. The proceeds will be used for the Shanghai biomedicine research and development (R&D) innovation industry base program, drug discovery and pharmaceutical research and filing platform laboratory expansion program, and…
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Hansoh Pharmaceutical’s Generic Ibrance Approved by NMPA
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China-based Hansoh Pharmaceutical Group Co., Ltd (HKG: 3692) announced that it has received market approval from the National Medical Products Administration (NMPA) for its generic version of Pfizer’s Ibrance (palbociclib). The drug can now be used to treat hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)-negative locally advanced…
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Alibaba Health’s 2022 Financial Report Shows Revenue Growth, Net Loss
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China-based Alibaba Health Information Technology Ltd (HKG: 0241) released its 2022 financial report (for the year ended March 31, 2022), with revenues reaching RMB 20.57 billion (USD 3 billion), up 32.6% year-on-year (YOY). The growth was driven by the pharmaceutical self-operation business and medical and digital service business. However, the…
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Wuxi Biologics Set to Be Removed from US Restricted Trade List
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Wuxi Biologics (HKG: 2269) is reportedly on the verge of being removed from a US Department of Commerce restricted trade list, a development first reported in February this year. This news has significantly boosted the firm’s valuation, wiping away HKD 77 billion (USD 9.9 billion) in losses. Chinese authorities permitted…
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CDE Releases 60th Batch of Chemical Generic Reference Preparations
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The Center for Drug Evaluation (CDE) has released the 60th batch of chemical generic reference preparations, adding 93 new specifications. The public feedback deadline for this batch is July 18, 2022. Batch DetailsIn this batch, 49 specifications had their information updated. However, 16 specifications failed the review process due to…
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Beijing Tianshi Tongda Raises RMB 140M for Autoimmune Disease Therapies
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China-based Beijing Tianshi Tongda Pharmaceuticals Technology Co., Ltd has reportedly raised RMB 140 million (USD 20.9 million) in an angel financing round. The round was led by Emerging Technology Partners (ETP) and Redhill Capital, with contributions from CASI Pharmaceuticals Inc. (NASDAQ: CASI). The proceeds will be used for a clinical…
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Wuhan YZY Biopharma Raises RMB 200M for Bispecific Antibodies and COVID-19 Vaccine Development
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China-based Wuhan YZY Biopharma Co., Ltd has reportedly raised RMB 200 million (USD 29.8 million) in a pre-Series C financing round led by Wuhan Hi-Tech, Hubei Science Technology Investment, and Optics Valley Financial Holding. The proceeds will be used for the clinical development of bispecific antibodies (BsAbs) and COVID-19 vaccines,…
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Shandong Xinhua Pharmaceutical Inks Tech Transfer Deal for LXH-2201 with IMM
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China-based Shandong Xinhua Pharmaceutical Co., Ltd (HKG: 0719) has signed a technology transfer agreement with the Institute of Materia Medica (IMM) of the Chinese Academy of Medical Science (CAMS) regarding LXH-2201. LXH-2201 is a Category 1 drug being developed to treat cardiovascular diseases and has completed both pre-clinical and Phase…
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Shionogi Files NDA for S-217622 COVID-19 Antiviral Drug in China
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Japan-based Shionogi & Co., Ltd has submitted a New Drug Application (NDA) to the National Medical Products Administration (NMPA) in China for its oral antiviral drug S-217622, developed through a joint venture with Ping An Life Insurance Company under the name Ping An-Shionogi Co., Ltd. Drug ProfileS-217622 is an oral…
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InnoCare Pharma’s ICP-490 Receives NMPA Approval for Hematological Malignancies
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Beijing InnoCare Pharma (HKG: 9969) announced that it has received clinical trial approval from the National Medical Products Administration (NMPA) for its targeted protein degrader ICP-490. The drug is approved for use in multiple myeloma (MM), non-Hodgkin lymphoma (NHL), and other hematological malignancies. Drug ProfileICP-490, developed through InnoCare’s molecular glue…
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Hrain Biotech and Novartis Receive Breakthrough Therapy Designations for CAR-T and Zolgensma
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The Center for Drug Evaluation (CDE) website indicates that Hrain Biotechnology Co., Ltd’s BCMA – targeted chimeric antigen receptor (CAR) T cell therapy and Novartis’ Zolgensma (OAV101) have been awarded breakthrough therapy designations (BTDs). Hrain Bio’s BCMA CAR – T cell is indicated for relapsed / refractory multiple myeloma. The…
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Techbank Medical Closes RMB 100M Series A to Build Global Innovation Platform
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Shanghai Techbank Medical Technology Co., Ltd, a cardiovascular device maker, has reportedly closed its Series A financing round at upwards of RMB 100 million (USD 14.9 million), co – led by Puhua Capital and Hainan Qishen Venture Capital. The proceeds will go towards the establishment of its global medical device…
