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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…
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Eli Lilly Reports Q4 Financials with COVID-19 Impact and Market Performers
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Eli Lilly & Co. (NYSE: LLY) reported its Q4 2022 financials, revealing a 9% year-on-year (YOY) drop in global sales to USD 7.3 billion, primarily due to falling COVID-19 revenues and unfavorable exchange rates. Excluding COVID-19 antibodies, sales were up 10% YOY in constant currency terms. For the full year,…
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Virpax Pharmaceuticals Seeks China Licensing Partner for Non-Opioid Pain Drug Envelta
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US-based Virpax Pharmaceuticals Inc. (NASDAQ: VRPX) has announced the engagement of advisors to help search for a licensing partner for its non-opioid pain drug Envelta (NES100; enkephalin nasal formulation) in China. Virpax has appointed New England Investors as its out-licensing advisor to support the commercialization of Envelta, a treatment for…
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Novo Nordisk Posts Strong 2022 Results; GLP-1 Therapies Drive Growth
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Denmark-based diabetes giant Novo Nordisk (NYSE: NVO) has reported financial results for the fourth quarter and full-year 2022. The company enjoyed a robust year with sales increasing 16% year-on-year (YOY) in constant currency terms to DKK 177.0 billion (USD 26.21 billion). The growth was primarily driven by strong sales of…
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Antengene Launches Phase I CLINCH Study for ATG-022 in Australia
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China-based Antengene Corporation Ltd (HKG: 6996) has received approval from Australia’s Therapeutic Goods Administration (TGA) to commence the Phase I CLINCH study for its antibody-drug conjugate (ADC) ATG-022. The study targets advanced or metastatic solid tumors, with a focus on gastric cancer patients expressing Claudin 18.2. ATG-022: Mechanism and Preclinical…
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Henlius Begins Phase I Trial for Biosimilar HLX15 Targeting Multiple Myeloma
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Shanghai Henlius Biotech (HKG: 2696) has announced the dosing of the first subject in a Phase I clinical study for its biosimilar candidate HLX15, targeting Johnson & Johnson’s (J&J, NYSE: JNJ) blockbuster drug Darzalex (daratumumab). The study aims to evaluate the pharmacokinetics, safety, and immunogenicity of HLX15 in healthy male…
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NeuShen Therapeutics Partners with UMass Chan for ALS Gene Therapy Development
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Sino-US biotech firm NeuShen Therapeutics Inc., focused on central nervous system (CNS) disorders, has announced a three-year Sponsored Research Agreement with UMass Chan Medical School (UMass Chan) to develop gene therapy for amyotrophic lateral sclerosis (ALS), a rare and severe neurological disease. The collaboration aims to advance therapeutic solutions for…
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F-Star Therapeutics and Sino Biopharmaceutical Seek CFIUS Approval with Extended Deadline
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The acquisition of UK-based biologics firm F-Star Therapeutics (NASDAQ: FSTX) by China’s Sino Biopharmaceutical (HKG: 1177) may still secure approval from the Committee on Foreign Investment in the United States (CFIUS). According to a recent SEC filing, the companies have requested another extension to their deal deadline, now set for…
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Jiangsu Hengrui’s SHR8058 Accepted for Review by China’s NMPA for Dry Eye Disease
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China-based Jiangsu Hengrui Pharmaceuticals (SHA: 600276) has announced that its market filing for the drug candidate SHR8058 has been accepted for review by the National Medical Products Administration (NMPA). The targeted indication is dry eye disease associated with meibomian gland dysfunction. SHR8058: Mechanism and DevelopmentSHR8058 is NOV03 (perfluorohexyl octane), a…
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Nanjing-Based Frontier Biotechnologies Secures Full Approval for Albuvirtide in China
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Nanjing-based Frontier Biotechnologies Inc. has announced that its supplementary approval filing for albuvirtide, China’s first domestically developed innovative HIV therapy, has been fully approved by regulators. The approval upgrades the drug’s status from “conditionally” approved to fully approved for marketing. Albuvirtide: A First-of-Its-Kind HIV TherapyAlbuvirtide is described as the world’s…
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Junshi Biosciences’ JS401 Accepted for Review by China’s NMPA for Hyperlipidemia
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China-based Junshi Biosciences (HKG: 1877, SHA: 688180) has announced that the National Medical Products Administration (NMPA) has accepted a clinical trial filing for JS401, an injectable co-developed with partner Risen Pharma. The product is an ANGPTL3 mRNA-targeted small interfering RNA (siRNA) designed to treat hyperlipidemia. JS401: Mechanism and DevelopmentJS401 targets…
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Pfizer Reports Record Revenues as COVID-19 Sales Soar; 2023 Guidance Amid Market Shifts
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US-based Pfizer Inc. (NYSE: PFE) reported its Q4 2022 financial results, highlighting an all-time high in 12-month revenues of USD 100.3 billion, up 30% year-on-year (YOY) excluding foreign exchange impacts. The company’s COVID-19 portfolio, including the Comirnaty vaccine and Paxlovid treatment, drove significant growth, though Pfizer expects a substantial revenue…
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Junshi Biosciences Partners with Huahai for Production of COVID-19 Drug VV116
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China-based Junshi Biosciences (HKG: 1877, SHA: 688180) has announced a production and supply agreement between its subsidiary, Shanghai JunTop Biosciences Co., Ltd, and Zhejiang Huahai Pharmaceutical Co., Ltd (SHA: 600521). Under the deal, Huahai will provide manufacturing and supply services for Junshi’s oral nucleoside analog drug JT001 (VV116), which is…
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Ocumension Completes Enrollment for Global Phase III Study of Myopia Treatment OT-101
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Chinese ophthalmology specialist Ocumension Therapeutics (HKG: 1477) has announced the completion of enrollment for a global Phase III study of its pipeline candidate OT-101. The randomized, double-blind, placebo-controlled, multi-center trial aims to assess the efficacy and safety of OT-101 in treating myopia in children. The study has enrolled 170 subjects,…
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R&B Bio Raises RMB 200 Million in Series A+ Round to Advance Gene Therapy Pipeline
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Chengdu-based gene therapy firm R&B Biotech has reportedly secured over RMB 200 million (USD 29.64 million) in a Series A+ financing round. The round was led by SDIC Venture Capital, with participation from Panlin Capital, Essence Fund’s healthcare fund, and existing investor Loyal Valley Capital. The proceeds will be allocated…
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Hengrui’s HER2-Targeted ADC SHR-A1811 Gains NMPA Clearance for Clinical Trial
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China’s Jiangsu Hengrui Pharmaceuticals (SHA: 600276) has announced receiving clearance from the National Medical Products Administration (NMPA) to conduct an open, multi-center Phase Ib/II clinical study for its investigational HER2-targeted antibody-drug conjugate (ADC), SHR-A1811. The study will evaluate the drug in patients with unresectable or metastatic breast cancer with low…
