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Fosun Pharma’s Proxima AI Raises Over RMB 100M in Strategic Financing
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Shanghai Fosun Pharmaceutical (Group) Co., Ltd (SHA: 600196, HKG: 2196) subsidiary Shanghai Proxima AI Technology Co., Ltd has reportedly raised over RMB 100 million (USD 14.8 million) in a strategic financing round. The round was led by Fosun Pharma and Guoyao Zhongjin (Shanghai) Medical Health Investment Management, with Anting Industrial…
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Taibang Biologic Raises $300M in Post-Privatization Financing Round
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Taibang Biologic Group (NASDAQ: CBPO), a plasma specialist privatized by Centurium Capital in April 2021, is set to raise $300 million in its first financing round since the deal. The round, led by Abu Dhabi Investment Authority’s (ADIA) subsidiary Platinum Orchid and Government of Singapore Investment Corp (GIC), includes participation…
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Sironax Completes $200 Million Series B Financing for Age-Related Disease Therapies
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Beijing-based clinical-stage biotechnology company Sironax announced the completion of a $200 million Series B financing round. The funding will support the clinical development of its receptor interacting protein kinase 1 (RIPK1) inhibitor and expansion of its R&D pipeline targeting age-related degenerative diseases. Funding Round DetailsThe financing round was led by…
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ImmVira Partners with China Resources Biopharmaceutical on Oncolytic Virus MVR-C5252 for Gliomas
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China-based biotech company ImmVira has entered into an exclusive partnership with compatriot firm China Resources Biopharmaceutical Co., Ltd to jointly develop MVR-C5252, a potential first-in-class oncolytic virus product for the treatment of gliomas and other central nervous system (CNS) tumors. Product DetailsMVR-C5252, developed using ImmVira’s OvPENS drug development platform, has…
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Tus-Pharma to Acquire Sinotau Pharma for RMB 220 Million
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China-based Tus-Pharmaceutical Group Co., Ltd (SHE: 000590) has announced plans to acquire 100% of Guangdong Sinotau Pharmaceutical Co., Ltd for RMB 220 million (USD 32.6 million) in cash. The deal aims to expand Tus-Pharma’s manufacturing footprint and product portfolio. Transaction DetailsSinotau Pharma owns a 14,496 sq.m factory with three production…
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Eli Lilly Files for Baqsimi Approval in China to Treat Severe Hypoglycemia
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Eli Lilly & Co. (NYSE: LLY) has submitted a market approval application to China’s Center for Drug Evaluation (CDE) for Baqsimi, its glucagon nasal powder spray designed to treat severe hypoglycemia in diabetes patients aged four and older. Drug DetailsHypoglycemia, a common complication during diabetes treatment, can be life-threatening and…
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Aosaikang’s ASKG315 Receives Ethics Approval for Phase I Cancer Trial in Australia
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Beijing Aosaikang Pharmaceutical Co., Ltd (SHE: 002755) announced it has received ethical approval from Australia’s Bellberry Human Research Ethics Committee (HREC) to initiate a Phase I clinical trial for ASKG315, its recombinant human interleukin-15 (IL-15) prodrug Fc fusion protein. The trial will assess the molecule in patients with advanced malignant…
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Ablaze Pharma to Invest $100M in Chengdu TRT R&D and Manufacturing Hub
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Shanghai-based Ablaze Pharma announced plans to invest an initial $100 million in a new research and development and manufacturing center for targeted radiation therapies (TRTs) in Chengdu’s Wenjiang district. The project follows an agreement with the local government and aims to leverage Sichuan’s nuclear science expertise. Project DetailsThe 26,000㎡ facility…
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Astellas Pharma Posts 17% Q1 Sales Growth Driven by Xtandi and Padcev
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Japan-based Astellas Pharma Inc. (TYO: 4503) reported a 17.1% year-on-year (YOY) increase in global sales revenues to JPY 381.79 billion (USD 2.89 billion) for the fiscal Q1 period ending June 30, 2022. The growth was driven by strong performance from key oncology and nephrology products. Core Product Highlights Regional GrowthGreater…
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China Resources Double-Crane to Acquire Stake in Shenzhou Biotech for Bio-Fermentation Push
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China Resources Double-Crane Pharmaceutical Co., Ltd (SHA: 600062) announced plans to acquire a 50.11% stake in Shenzhou Biotechnology Co., Ltd for RMB 501.73 million (USD 74.1 million). The move aims to expand the firm’s presence in the bio-fermentation sector. Transaction DetailsThe acquisition will give Double-Crane a controlling interest in Shenzhou…
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Coherent Biopharma Raises Series B Funds to Advance Bi-XDC Pipeline
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Coherent Biopharma Ltd, a Suzhou-based specialist in bispecific-ligand drug conjugates (Bi-XDC), has reportedly raised an undisclosed amount in a Series B financing round. The funding was led by HM Capital and included participation from Suzhou Yuanfeng Capital, ABC International, V-Capital, and existing investor 6 Dimensions Capital. Company ProfileCoherent Biopharma leverages…
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Hengrui Medicine’s Pyrotinib Combo Meets Endpoints in HER2+ Breast Cancer Trial
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Jiangsu Hengrui Medicine Co., Ltd (SHA: 600276) announced that its tyrosine kinase inhibitor (TKI) pyrotinib, combined with trastuzumab and docetaxel, met endpoints in a Phase III clinical trial as a first-line treatment for HER2-positive recurrent/metastatic breast cancer. The company plans to hold pre-market approval filing discussions with regulators soon. Study…
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Shouyao Holdings Receives Approval for CT-3505 ALK Inhibitor Study in NSCLC
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Beijing-based Shouyao Holdings (Beijing) Co., Ltd (SHA: 688197) announced it has received ethical approval from the Cancer Institute and Hospital at the Chinese Academy of Military Science to conduct a Phase I/II clinical study (CT-3505-I-01) of its CT-3505 in patients with ALK-positive non-small cell lung cancer (NSCLC). Drug ProfileCT-3505, an…
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InnoCare Pharma Doses First Patient in ICP-488 Study for Autoimmune Diseases
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China-based InnoCare Pharma (HKG: 9969) announced that the first subject has been dosed in a clinical study for ICP-488, its TYK2 JH2 allosteric inhibitor. The drug is being developed for autoimmune diseases such as psoriasis and inflammatory bowel disease (IBD). Mechanism of ActionICP-488 is a potent and selective inhibitor of…
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Convalife Pharmaceuticals Licenses Karus Therapeutics’ CVL237 Globally
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Shanghai-based Convalife Pharmaceuticals has entered into a licensing agreement with UK-based Karus Therapeutics Ltd, acquiring global patents, development, and commercialization rights to CVL237 (KA2237). Financial terms were not disclosed. Drug ProfileCVL237 is a dual selective inhibitor of phosphatidylinositol-3-kinase (PI3K) β/δ. It is advancing into Phase II trials in China and…
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Unicycive Therapeutics Licenses Renazorb to Lee’s Pharma for Asian Markets
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U.S.-based biotech Unicycive Therapeutics, Inc. (NASDAQ: UNCY) announced a licensing agreement with Hong Kong-listed Lee’s Pharmaceutical Holdings Ltd (HKG: 0950), granting Lee’s exclusive rights to develop, market, and commercialize Renazorb (lanthanum dioxycarbonate) in mainland China, Hong Kong, and other Asian markets. Licensing TermsUnder the agreement, Unicycive will receive an upfront…
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HutchMed Initiates China Bridging Study for Tazverik in Follicular Lymphoma
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HutchMed (NASDAQ: HCM, HKG: 0013) announced the initiation of a bridging study for Tazverik (tazemetostat) in China, with the first patient dosed on July 29, 2022. The multi-center, open-label, Phase II study (NCT05467943) will evaluate the drug’s efficacy, safety, and pharmacokinetics in relapsed/refractory follicular lymphoma (FL). Drug BackgroundTazverik, an EZH2…
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Hainan Shuangcheng to Transfer Triptorelin Assets to Chongqing Lummy for USD 4.7M
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Hainan Shuangcheng Pharmaceutical Co., Ltd (SHA: 002693) will transfer all tangible and intangible assets and rights related to its triptorelin product in designated territories to Chongqing Lummy Pharmaceutical Co., Ltd (SHE: 300006) for RMB 32 million (USD 4.7 million). The deal includes intellectual property, production technology, and marketing approvals for…
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Eccogene Receives FDA Approval for ECC4703 Phase I Study in NASH and Dyslipidemia
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Shanghai-based biopharmaceutical company Eccogene announced it has received approval from the U.S. Food and Drug Administration (FDA) to initiate a Phase I clinical trial for ECC4703, a thyroid hormone receptor (THR) agonist. The study will assess the drug’s safety, tolerability, pharmacokinetics, and pharmacodynamics in healthy participants and subjects with elevated…
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HutchMed’s H1 2022 Oncology Sales Surge 82% on Strong Product Performance
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China-based biopharma HutchMed (China) Ltd (NASDAQ: HCM, HKG: 0013) reported strong financial results for the first half of 2022, with oncology product sales soaring 82% year-on-year (YOY) to USD 87.4 million. The company expanded its commercial team to 800 staff, driving growth across its key products. Product Sales Breakdown Revenue…
