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Shanghai Pharmaceuticals Partners with Baiyun District for Health Initiative
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China-based Shanghai Pharmaceuticals Holding Co., Ltd (SHA: 601607) has entered into a strategic cooperation agreement with Guangzhou’s Baiyun district. This public-private partnership is designed to bolster “Health Baiyun” through collaboration on functional cosmetics, general health, pharmaceutical commerce, and other fields. The initiative aims to enhance the healthcare industry in the…
TandemAI Secures $35M Series A to Expand Drug Discovery Platform
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TandemAI, a technology firm with operations in New York, San Diego, and China, has successfully completed a USD 35 million Series A finance round. The funds raised will be utilized to expand the company’s drug discovery service platform, enhancing its capabilities in the biotech sector. This strategic financing round attracted…
Merck Reports 12.9% Sales Growth in 2022 Annual Report
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German major Merck (NYSE: MRK) released its 2022 annual report this week, showing a robust expansion in global net sales. The company reported a 12.9% year-on-year (YOY) increase to EUR 22.2 billion (USD 23.6 billion), driven by growth across all business sectors. This performance underscores Merck’s continued strength in the…
NHSA Releases Guidelines on Drug Procurement and Pricing Management
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The National Healthcare Security Administration (NHSA) has released a notification regarding provincial centralized procurement and pricing management. The document outlines several measures aimed at expanding the coverage of drugs in the volume-based procurement (VBP) program and preparing implementation measures for the eighth VBP round currently under preparation. Standardizing VBP Agreement…
Kinnjiu Biopharma Initiates Global Phase I Study for Exarafenib
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Shanghai-based Kinnjiu Biopharma Inc. has announced the first subject dosing in the global multi-center Phase I study ‘KN-8701’, focusing on its Category 1 drug exarafenib (KIN-2787) in the Chinese mainland. This milestone comes shortly after Kinnate Biopharma Inc. (Nasdaq: KNTE) acquired an ownership stake in Kinnjiu Bio, previously held by…
Zai Lab Reports 2022 Financial Results with Revenue Growth
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China-based Zai Lab Limited (NASDAQ: ZLAB, HKG: 9688) has announced its full-year 2022 financial results, along with recent product highlights and corporate updates. The company reported total revenues of USD 215 million for 2022, marking an increase of 49% compared to 2021. This included total revenues of USD 62.6 million…
Pengyang Yiliao Raises Series B+ Funds for Cardiovascular Product Development
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Pengyang Yiliao, a Beijing-based developer and manufacturer of cardiovascular technology, has reportedly raised “tens of millions” of renminbi in a Series B+ financing round. The investors included Suzhou Wuzhong Economic and Technological Innovation Investment Partnership Limited and Suzhou Wuzhong Jingkai Intelligent Manufacturing Investment Partnership Limited. The proceeds will be used…
Zhejiang Medicine’s ARX788 Shows Positive Results in Breast Cancer Study
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China-based Zhejiang Medicine Co., Ltd (SHA: 600216) has announced positive results from a Phase II/III clinical study for its sARX788, an anti-HER2 monoclonal antibody-AS269 conjugate, in the treatment of breast cancer. The study, which assessed the drug’s efficacy and safety in HER2-positive local advanced or metastatic breast cancer, reached its…
Glowe Raises Series A+ Funding to Expand AIGC in Mental Health
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Glowe, an online psychological consultation platform based in Guangdong, has reportedly raised “tens of millions” of renminbi in a Series A+ financing round. The round was led by FreesFund, with proceeds intended to ramp up the application of Artificial Intelligence Generated Content (AIGC) in the platform’s services. Glowe: Platform Overview…
Geneus Tech Secures Funding for Gseq500 Gene Sequencer Production
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Geneus Tech, a Shenzhen-based developer and manufacturer of gene sequencers, has reportedly raised an undisclosed amount of money in a Series B+ financing round. The round was led by GF Xinde Investment and a private equity fund initiated by Zhejiang Dian Diagnostics Co., Ltd (SHE: 300244). The proceeds will be…
Alphamab Oncology Partners with Stemirna for BsAb and mRNA Vaccine Development
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China-based Alphamab Oncology (HKG: 9966) has announced a strategic partnership with Shanghai-based mRNA drug developer Stemirna Therapeutics Co., Ltd. The collaboration focuses on the clinical development of bispecific antibodies (BsAbs) and mRNA vaccines, with an initial focus on the combination of KN052 and SWP1001. No financial details of the partnership…
CanSino Biologics’ Inhalable COVID-19 Vaccine Gets EUA in Indonesia
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China-based CanSino Biologics (SHA: 688185, HKG: 6185) has announced that it has received emergency use authorization (EUA) for its inhalable recombinant novel coronavirus vaccine (adenovirus type 5 vector) in Indonesia. This marks a significant milestone in the global fight against COVID-19, as the company expands its vaccine’s availability to another…
BeiGene Reports Outstanding Q4 and Full-Year 2022 Financial Results
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BeiGene, Ltd. (NASDAQ: BGNE, HKG: 6160, SHA: 688235) has released financial results for the Q4 and full-year 2022 periods, along with recent business highlights and upcoming milestones. Revenues reached USD 380.1 million in Q4, up 72.3%, and USD 1.4 billion for the full 12 months, up 97.9%. CEO John Oyler…
Viatris Reports Q4 2022 Results, Highlights China Growth
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US-based generics giant Viatris Inc. (NASDAQ: VTRS) has released its Q4 2022 financial report. The firm reported a 2% year-on-year (YOY) fall in net sales to USD 16.2 billion. The decrease was partly attributed to the USD 3 billion sale of Viatris’ biosimilars business to India-based Biocon Biologics Ltd, a…
China Performs First AB-BNCT Procedures Outside Japan
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The first accelerator-based boron neutron capture therapy (AB-BNCT) procedures have been performed in China by the Neuboron Medical Group at Xiamen Humanity Hospital (XHH). This marks a significant milestone as it represents the first time human patients have been treated with AB-BNCT technology outside of Japan. Trial Details and ResultsA…
HutchMed Reports 2022 Financial Results with Revenue Growth
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Hutchison China Meditech (HutchMed; HKG: 0013, NASDAQ: HCM) has released its financial results for the year ended December 31, 2022, alongside updates on key clinical and commercial developments. Revenues for the year ending December 31, 2022, were USD 426.4 million, compared to USD 356.1 million in 2021, primarily driven by…
3SBio’s Nalfurafine Tablets Accepted for Review by NMPA for Chronic Liver Disease
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China-based 3SBio Inc. (HKG: 1530) has announced that a clinical trial filing for its nalfurafine oral disintegrating tablets (TRK-820) for the improvement of pruritus in patients with chronic liver disease has been accepted for review by the National Medical Products Administration (NMPA). This follows the previous acceptance for review of…
3SBio Terminates Distribution Agreement with AstraZeneca for Byetta
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China-based 3SBio Inc. (HKG: 1530) has announced the termination of a distribution agreement with UK major AstraZeneca (AZ, NASDAQ: AZN), effective from December 31, 2023, concerning AstraZeneca’s Byetta (exenatide). The two companies previously entered into a licensing deal focusing on type 2 diabetes therapies, including Byetta and Bydureon (exenatide microspheres).…
JW Therapeutics Initiates Clinical Study for JWATM214 in Advanced Hepatocellular Carcinoma
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China-based JW Therapeutics (HKG: 2126) has announced the initiation of a clinical study for its pipeline candidate JWATM214 in patients with advanced hepatocellular carcinoma (HCC). This first-in-human study is designed to evaluate the safety and tolerability, determine the recommended Phase II dose (RP2D), and evaluate the pharmacokinetic profile and preliminary…
FibroGen Reports Q4 2022 Financial Results with Revenue Growth
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US-based FibroGen Inc. (FGEN) has released its Q4 2022 financial results. The company reported global revenues of USD 34.4 million in Q4, up from USD 16.4 million a year ago. For the 12 months, revenues reached USD 140.7 million, down from USD 235.3 million in 2021, when revenues were boosted…
