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United Imaging Healthcare’s STAR Listing Raises USD1.85 Billion
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Shanghai-based United Imaging Healthcare (UIH) has completed an initial public offering (IPO) of 100 million shares on the Shanghai Stock Exchange’s Sci-Tech Innovation Board (STAR). The listing raised RMB12.48 billion (USD1.85 billion) for the firm, bringing its post-listing market capitalization to around RMB100 billion. Company BackgroundFounded in 2011, UIH focuses…
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Boston Scientific’s Rezūm System Installed in China’s Urinary Innovation Center
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US major Boston Scientific Corporation (NYSE: BSX) has jointly established the “Urinary Joint Innovation Center” and “Rezūm Academic Exchange Training Center” in China with ParkwayHealth and YiRan Urology. Boston Scientific’s Rezūm hot steam treatment equipment and disposable prostate hot steam treatment equipment was installed in the center for the first…
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Trautec Medical Raises RMB200m in Series A Financing for Recombinant Collagen R&D
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China-based Jiangsu Trautec Medical Technology Co., Ltd. has reportedly raised nearly RMB200 million (USD205.3 million) in a Series A financing round. The round was led by Shiseido’s Ziyue Fund, with participation from Hua Fang Investment, CDH Wealth Management, and Holley Pharma. The proceeds will be directed towards investments in technology…
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Zhaoke Ophthalmology Enrolls First Patient in ZKY001 Phase II TPRK Study
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China-based Lee’s Pharmaceutical Holdings Ltd (HKG: 0950) spin-off Zhaoke Ophthalmology Ltd (HKG: 6622) announced the enrollment of the first patient in a Phase II clinical study for its ZKY001 in transepithelial photorefractive keratectomy (TPRK), a surgical procedure to treat myopia. ZKY001 is based on a peptide composed of seven amino…
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Insilico Medicine Closes USD95m Series D Financing to Advance AI Drug Discovery
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Insilico Medicine, a Hong Kong-based artificial intelligence (AI)-driven drug discovery company, announced the closure of a USD95 million Series D financing round following Series D2 funding. The round was led by Saudi Aramco’s Prosperity7 Ventures. The proceeds will be used to advance its in-house developed product pipeline and accelerate pivotal…
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LianBio Completes Enrollment for Mavacamten Phase III Trial in oHCM
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China-based biotech LianBio (OTCMKTS: LIANY) announced that enrollment has been completed in the Phase III EXPLORER-CN clinical trial, assessing mavacamten in Chinese patients with symptomatic obstructive hypertrophic cardiomyopathy (oHCM). Drug BackgroundMavacamten, discovered by MyoKardia Inc. (Nasdaq: MYOK), is a first-in-class small-molecule drug that reversibly binds to myosin. It targets the…
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Huadong Medicine to Acquire 60% Stake in Wuhu Huaren for RMB 396 Million
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China-based Huadong Medicine Co., Ltd (SHE: 000963) announced that its subsidiary, Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd, is set to acquire a 60% stake in compatriot firm Wuhu Huaren Science and Technology Co., Ltd. The deal involves a consideration of RMB 396 million (USD 58.7 million), consisting of RMB 180…
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Recbio Completes Enrollment for HPV Vaccine REC603 Immuno-Bridging Study
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China-based vaccine maker Jiangsu Recbio Technology Co., Ltd (HKG: 2179) announced the completion of subject enrollment and first vaccination in an immuno-bridging study for its recombinant HPV 9-valent vaccine, REC603. The study targets younger-age groups and aims to compare the immunogenicity between REC603 and Gardasil 9. Meanwhile, follow-up on subjects…
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Everest Medicines’ Xerava NDA Accepted by Taiwan’s TFDA
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Everest Medicines (HKG: 1952) announced that its New Drug Application (NDA) for Xerava (eravacycline) for the treatment of complicated intra – abdominal infections (cIAI) has been accepted for review by the Taiwan Food and Drug Administration (TFDA). Partnership DetailsThe China-based biopharma also entered into an exclusive partnership agreement with TTY…
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China Grand Pharma’s H1 2022 Revenues Up 14.1% to USD664m, R&D Spending Rises
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China Grand Pharmaceutical and Healthcare Holdings Ltd (HKG: 0512) published its financial results for the first half of 2022, ending June 30. The company reported revenues of HKD5.212 billion (USD664 million), marking a 14.1% year-on-year (YOY) increase. Excluding income from changes in fair value relating to the investment in Telix,…
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HutchMed and AstraZeneca’s Tagrisso-Orpathys Combo Shows Promise in NSCLC Study
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Hutchison China Meditech (HutchMed; NASDAQ: HCM, HKG: 0013) and AstraZeneca (AZ, NASDAQ: AZN) announced the preliminary results of the Phase II SAVANNAH study evaluating the combination of Tagrisso (osimertinib) and Orpathys (savolitinib) in patients with epidermal growth factor receptor – mutated (EGFRm) non-small cell lung cancer (NSCLC) with high levels…
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NMPA Accepts Roche’s Crovalimab Filing for PNH Treatment with Priority Review
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The National Medical Products Administration (NMPA) has officially accepted for review the market filing submitted by Swiss pharmaceutical giant Roche for its paroxysmal nocturnal hemoglobinuria (PNH) drug, crovalimab, granting it priority review status. About PNHPNH is a rare and fatal blood system disease with an incidence of approximately 1 to…
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Kintor Pharma Completes GT20029 Phase I Study for Hair Loss and Acne
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China-based Kintor Pharmaceutical Ltd (HKG: 9939) announced the completion of dosing all 92 subjects in a Phase I clinical study of its GT20029 for androgenetic alopecia and acne in China. The randomized, double-blind, placebo-controlled study assessed the safety and pharmacokinetics of GT20029 (gel / tincture) in healthy subjects via single…
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NHSA Cracks Down on Price Gouging in Basic Medical Insurance Scheme
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The National Healthcare Security Administration (NHSA) has announced the results of a special investigation, revealing that three companies have been found guilty of price gouging and defrauding funds from the Basic Medical Insurance (BMI) scheme. The companies involved are Guangzhou Baiyunshan Tianxin Pharmaceutical Co., Ltd, Guangzhou Baiyunshan General Factory, and…
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FibroGen’s Roxadustat Sales in China Rise Despite Price Cut
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US firm FibroGen Inc. (NASDAQ: FGEN), which operates subsidiaries in Beijing and Shanghai, released its Q2 2022 financial results, including updates on the China market performance of its anemia therapy roxadustat (trade name: Evrenzo). The drug, a global first-in-class oral hypoxia-inducible factor-prolyl hydroxylase (HIF-PH) inhibitor, is distributed in China via…
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Inmagene and HutchMed Dose First Subject in IMG-004 Phase I Study
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China-based Inmagene Biopharmaceuticals and Hutchison China Meditech (HutchMed; NASDAQ: HCM, HKG: 0013) announced that the first subject has been dosed in the US in a global Phase I clinical study for their drug candidate IMG-004. The double-blind, randomized, placebo-controlled, single and multiple dosage escalation study is designed to assess the…
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Zai Lab’s Q2 2022 Financials Show Revenue Growth and R&D Cost Cut
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China-based biotech Zai Lab Ltd (NASDAQ: ZLAB, HKG: 9688) released its Q2 2022 financial report, recording USD48.2 million in total revenues during the period, up 30.62% year-on-year (YOY). The company’s research and development (R&D) expenditure was USD66.1 million, down 53.52% YOY. Zai generated a USD137.9 million net loss, compared with…
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BeiGene’s Tislelizumab Meets Primary Endpoint in Global HCC Study
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BeiGene (NASDAQ: BGNE, HKG: 6160, SHA: 688235) announced that the global Phase III RATIONALE 301 study evaluating tislelizumab in first – line unresectable hepatocellular carcinoma (HCC) has met its primary endpoint. The study demonstrated that the programmed death – 1 (PD – 1) inhibitor tislelizumab was non – inferior to…
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Innovent Biologics’ IBI-112 Achieves Primary Endpoints in Psoriasis Phase II Trial
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China-based Innovent Biologics Inc. (HKG: 1801) announced that its interleukin-23 subunit p19 (IL-23p19) monoclonal antibody (mAb) IBI-112 (picankibart) has achieved primary endpoints in a Phase II clinical trial in China for moderate-to-severe plaque psoriasis. The multi-center, randomized, double-blind, placebo-controlled Phase II study (CIBI112A201; clinicaltrials.gov: NCT 05003531) enrolled 250 subjects randomized…
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Sciwind’s XW003 Shows Positive Weight Loss Results in Phase Ic/IIa Study
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Hangzhou-based Sciwind announced positive interim topline results from a 26-week Phase Ic/IIa clinical study of its drug candidate XW003 (ecnoglutide) in overweight or obese Chinese adult patients. Study DetailsThe ongoing multicenter Phase 1c/2a study in China involved 60 non-diabetic overweight or obese adult subjects. Participants were randomized into three cohorts…
