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Frontier Biotech Raises USD 51.4M to Advance COVID-19 Drug FB2001
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China-based Frontier Biotechnologies Inc. (SHA: 688221) announced plans to raise RMB 270 million (USD 51.4 million) through a private placement to support the development of its COVID-19 drug candidate FB2001. The funding will be used for a Phase I clinical study, global Phase II/III trials, and quality and process studies.…
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Curatia Medical Raises Tens of Millions in Funding Co-led by Hidea Investment
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Curatia Medical Ltd, a vascular interventional therapy developer with operations in Silicon Valley, California, and Suzhou, China, has reportedly raised tens of millions of renminbi in its latest financing round, co-led by Hidea Investment. Company BackgroundFounded in 2015, Curatia specializes in biomaterials, machinery, coatings, metal weaving, extrusion, abrasives, and other…
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Novaremed AG Licenses NRD.E1 to NeuroFront for Greater China Development
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Switzerland-based Novaremed AG has entered into a licensing agreement with China’s NeuroFront (Shanghai) Co., Ltd, granting NeuroFront exclusive rights to develop, commercialize, and manufacture NRD.E1 in Greater China, including mainland China, Hong Kong, Macau, and Taiwan. In exchange, Novaremed will receive upfront and milestone payments totaling USD 130 million. Drug…
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Junshi Biosciences’ Toripalimab Receives EC Orphan Drug Designation for NPC
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China-based Junshi Biosciences (HKG: 1877, SHA: 688180) announced that its PD-1 inhibitor Toripalimab (trade name: Tuoyi) has received orphan drug designation (ODD) from the European Committee (EC) for the treatment of nasopharyngeal carcinoma (NPC). This marks the sixth ODD for Toripalimab in the US and Europe, following previous designations for…
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Yifeng Pharmacy Chain to Establish New Company with Tangshan Deshuntang
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China-based Yifeng Pharmacy Chain Co., Ltd (SHA: 603939) announced that its subsidiary, Shijiazhuang Xinxing Pharmacy Chain Co., Ltd, will establish a new company with Tangshan Deshuntang Pharmaceutical Chain Co., Ltd. The new entity, tentatively named Tangshan Xinxing Deshuntang Pharmaceutical Chain Co., Ltd, will take over all business and assets of…
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Ji Xing Pharmaceuticals Enrolls First Patient in OC-01 Phase III Study for Dry Eye
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Shanghai-based Ji Xing Pharmaceuticals, backed by RTW Investments, announced that the first patient has been enrolled in a Phase III clinical study for its OC-01 (varenicline) nasal spray in China. The study aims to evaluate the efficacy and safety of OC-01 in treating dry eye and neurotrophic keratopathy. Drug ProfileOC-01…
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Gan & Lee Pharmaceuticals Doses First Patient in GZR18 Phase II Study for Diabetes and Obesity
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China-based Gan & Lee Pharmaceuticals (SHA: 603087) announced that the first patient has been dosed in a Phase II clinical study for its Category 1 biologic product GZR18, a novel glucagon-like peptide-1 (GLP-1) receptor agonist designed for once-weekly administration. Study DetailsThe Phase Ib/IIb study will evaluate the safety, tolerability, pharmacokinetics,…
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Fosun Pharmaceutical to Raise USD 662M via Share Issue for Drug Development and API Base
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China-based Shanghai Fosun Pharmaceutical (Group) Co., Ltd (SHA: 600196, HKG: 2196) announced plans to issue 128,144,927 A shares at RMB 42 (USD 6.20) per share. The proceeds, totaling RMB 4.48 billion (USD 662 million), will be allocated to clinical studies of novel drugs, licensing deals, product launches, and the construction…
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Tris Pharma and Pediatrix’s Methylphenidate Tablet, Ipsen’s Triptorelin Injection Awarded Priority Review by CDE
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The Center for Drug Evaluation (CDE) website shows that US-based Tris Pharma and Pediatrix Therapeutics’ methylphenidate hydrochloride sustained release chewable tablets, along with Ipsen Pharma’s injectable pamoic acid triptorelin injection, have been granted priority review status. The drugs are recognized for aligning with new pediatric drug varieties, dosage forms, and…
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Roche Posts 5% H1 Sales Growth, Led by New Drugs and Immunodiagnostics
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Swiss pharmaceutical giant Roche (SWX: ROG, OTCMKTS: RHHBY) reported a 5% year-on-year (YOY) increase in overall group sales at constant exchange rates (CER) to CHF 32.3 billion (USD 33.3 billion) for the first half of 2022. The growth was driven by new drugs for hemophilia, cancer, and neurological disorders, which…
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InnoCare’s Tafasitamab Receives First Prescription in China’s Bo’Ao Lecheng Pilot Zone
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China-based InnoCare (HKG: 9969) announced that the first prescription for its pipeline candidate tafasitamab (trade name: Monjuvi) has been issued in the Bo’Ao Lecheng Medical Tourism Pilot Zone. The drug is intended for the treatment of relapsed or refractory diffuse large B-cell lymphoma (r/r DLBCL) in patients not eligible for…
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Harbin Gloria Partners with Genolmmune on PD-1 and Neoantigen Therapy for NSCLC
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China-based Harbin Gloria Pharmaceuticals Co., Ltd (SHE: 002437) has partnered with Genolmmune Therapeutics Biotechnology Co., Ltd, a BGI Genomics subsidiary focused on tumor immune cell therapy. The collaboration aims to develop Gloria’s PD-1 monoclonal antibody zimberelimab in combination with Genolmmune’s injectable Neo-T neoantigen immunotherapy for non-small cell lung cancer (NSCLC).…
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MAXVAX Biotech Raises RMB500M in Series B to Advance Vaccine Pipelines
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MAXVAX Biotechnology LLC, a Chengdu-based vaccine and novel adjuvant developer, reportedly raised RMB500 million ($73.9 million) in a Series B financing round. The funding was led by China Life Equity Investment and included participation from existing investors Sherpa Healthcare Partners and GL Ventures, as well as new investors Shizhen Capital…
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Livzon’s V-01 and V-01D-351 Vaccines Show Strong Safety, Immunity as COVID Boosters
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China-based Livzon Pharmaceutical Group (HKG: 1513) released clinical data for its recombinant novel coronavirus fusion protein vaccine V-01 and bivalent vaccine V-01D-351, showing strong safety and immunogenicity as sequential booster shots. The vaccines are co-developed by Livzon subsidiary Zhuhai Livzon Monoclonal Antibodies Biotechnology and the Chinese Academy of Sciences’ Institute…
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InxMed Receives $10M Debt Financing from SPD Silicon Valley Bank to Advance FAK Inhibitor IN10018
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China-based biotech firm InxMed (Nanjing) Co., Ltd announced it has received $10 million in debt financing from SPD Silicon Valley Bank. The funding will support the development of IN10018 (BI853520), a focal adhesion kinase (FAK) inhibitor licensed from iPharma Ltd and Boehringer Ingelheim. Drug ProfileIN10018 is under clinical investigation in…
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Frontera Therapeutics Raises $160M in Series B to Advance Gene Therapy FT-001
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Sino-US gene therapy specialist Frontera Therapeutics has closed a $160 million Series B funding round, bringing total investments in the firm to $195 million. The round follows a $35 million Series A led by OrbiMed and Creacion Ventures. Investors in the latest round include Boyu Capital, Sequoia China, OrbiMed, and…
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DAC Biotech’s DXC005 ADC Doses First Patient in Beijing Cancer Hospital Trial
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China-based Hangzhou DAC Biotech Co., Ltd announced the first patient enrollment and dosing of its antibody drug conjugate (ADC) DXC005 in a clinical study at Beijing Cancer Hospital’s gastrointestinal oncology department. The trial marks progress in DAC Bio’s pipeline of oncology-focused ADC candidates. Drug ProfileDXC005 combines a MUC-1 targeting antibody…
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J&J Q2 Sales Rise 8% but Profits Plunge 23% Amid China COVID Lockdowns
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US giant Johnson & Johnson (J&J, NYSE: JNJ) reported Q2 2022 financials, showing 8.0% year-on-year (YOY) sales growth in constant currency to $24.02 billion but a 23.3% net profit drop to $4.81 billion. CFO Joseph Wolk cited the strong dollar and China’s COVID-19 lockdowns as key factors, prompting a full-year…
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Novartis Q2 Results Show 5% Growth, Led by Entresto and Cosentyx
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Swiss pharma giant Novartis (NYSE: NVS) reported a 5% year-on-year (YOY) revenue increase in constant currency terms to $12.79 billion in Q2 2022, though dollar sales dipped 1% due to currency strength. Earnings per share (EPS) rose 1%, or 10% excluding the $20.7 billion Roche stake sale in November 2021.…
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Aidea Pharmaceutical Acquires 19.96% ND Pharm Stake to Boost Urokinase Business
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China’s Jiangsu Aidea Pharmaceutical Co., Ltd (SHA: 688488) has acquired a 19.96% stake in ND Pharm, becoming the firm’s second-largest shareholder. Financial terms were undisclosed. The move positions Aidea to leverage ND Pharm’s market-leading urokinase products, complementing its existing human protein portfolio. ND Pharm’s Market PositionND Pharm markets injectable urokinase…
