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Rainmed Medical Makes IPO Debut on Hong Kong Exchange with Valuation Over USD 764M
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Suzhou Rainmed Medical Technology Co., Ltd, a China-based vascular intervention robot manufacturer, has completed its initial public offering (IPO) on the Hong Kong Stock Exchange. The company’s shares (02297) were priced at HKD 6.24 each, giving it an initial market valuation of over HKD 6 billion (USD 764 million). Company…
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MicuRx Pharmaceuticals Approved for STAR Market IPO by CSRC
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The China Securities Regulatory Commission (CSRC) has approved the initial public offering (IPO) of Sino-US firm MicuRx Pharmaceuticals Inc. on Shanghai’s Sci-Tech Innovation Board (STAR). The company, established in 2007, focuses on developing novel drugs for infectious diseases and kidney disorders. Company BackgroundMicuRx has a pipeline of in-house developed drugs…
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Innovent Biologics’ Pemazyre Becomes First FGFR2 Inhibitor Approved in China
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China-based Innovent Biologics Inc. (HKG: 1801) announced that the first prescription has been filled in China for Pemazyre (pemigatinib), the world’s first targeted therapy for cholangiocarcinoma (bile duct cancer). The drug, an FGFR2-targeted protein kinase inhibitor, was originally discovered by US biotech Incyte Therapeutics and licensed to Innovent for Greater…
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Dizal Pharma’s DZD1516 Receives NMPA Green Light for HER2+ Breast Cancer Trial
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China-based Dizal Pharmaceutical Co., Ltd (SHA: 688192), spun out from AstraZeneca’s China drug discovery unit in 2017, announced that the National Medical Products Administration (NMPA) has approved a Phase II clinical study for its pipeline candidate DZD1516. The trial will evaluate DZD1516, a small-molecule HER2-targeted tyrosine kinase inhibitor, in combination…
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WuXi XDC Partners with AbTis to Advance ADC Development and Manufacturing
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WuXi XDC, a joint venture between Wuxi Biologics (HKG: 2269) and WuXi STA (SHA: 603259), announced a partnership with Korean biotech AbTis to accelerate the development and manufacturing of antibody drug conjugates (ADCs). The collaboration will leverage WuXi XDC’s integrated services and AbTis’s proprietary ADC platform technology. Partnership DetailsAbTis will…
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GenScript Biotech’s Legend Biotech Terminates LB1901 CAR-T Phase I Trial
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Hong Kong-based GenScript Biotech Corporation (HKG: 1548) announced that its subsidiary Legend Biotech Corporation (NASDAQ: LEGN) has terminated a Phase I clinical study for LB1901, a chimeric antigen receptor (CAR) T cell therapy candidate targeting CD4. The decision follows the FDA’s clinical hold in February 2022 and the lifting of…
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ClouDr Group’s Hong Kong IPO Nets HKD 482 Million with Sanofi as Investor
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Hangzhou-based ClouDr Group Ltd (HKG: 9955), a one-stop chronic disease management and smart medical platform, has completed an initial public offering (IPO) on the Hong Kong Stock Exchange, raising HKD 482 million (USD 61.4 million). France-based pharmaceutical giant Sanofi acted as one of its cornerstone investors. Proceeds will be used…
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Baifu Laser Raises RMB 100 Million in Series A Funding for Optoelectronic Equipment
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China-based Nanjing Baifu Laser Technology Co., Ltd reportedly raised close to RMB 100 million (USD 14.9 million) in a Series A financing round led by Yuanbio Venture Capital, with existing investor Northern Light Venture Capital also participating. The proceeds will be used for clinical filings and global market promotion of…
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Oriomics Launches XiaoWeiAn Multi-Tumor Early Screening Product
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Hangzhou Ao’rui Biological Technology Co., Ltd (Oriomics) announced the market launch of XiaoWeiAn, a multi-tumor early screening product targeting liver, gastric, intestinal, esophageal, and pancreatic cancers. The product, a first-in-class multi-omics cancer joint inspection product based on the real-time PCR and chemiluminescence dual platform, boasts 88.4% overall sensitivity, 98.5% specificity,…
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Zhaoke Ophthalmology Enrolls First Patient in TAB014 Phase III Study for wAMD
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Lee’s Pharmaceutical Holdings Ltd’s (HKG: 0950) former subsidiary Zhaoke Ophthalmology Ltd (HKG: 6622) announced the first patient enrollment in a Phase III clinical study for its core product TAB014, a recombinant anti-VEGF antibody, in neovascular wet age-related macular degeneration (wAMD). The randomized, double-blind, non-inferiority Phase III study is designed to…
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GeneRulor Medical Technology Raises Funds for Gene Editing Diagnostics
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China-based gene editing specialist ZhuHai GeneRulor Medical Technology Co., Ltd. reportedly raised “tens of millions” of renminbi in a recent financing round. The round was led by YF Capital and Gree Group, with contributions from Z & H Investment and Shanzhi Investment. Proceeds will be used to advance the commercialization…
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Brii Biosciences Launches Anti-COVID-19 Antibody Cocktail in China
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China-based Brii Biosciences Ltd (HKG: 2137) announced the commercial launch in China of the anti-COVID-19 antibody cocktail amubarvimab + romlusevimab. The regimen represents a long-acting neutralizing antibody therapy against COVID-19. The first commercial batch of the antibodies was released today, marking an important milestone in the commercialization of the combination…
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Junshi Biosciences’ PD-1 Inhibitor Tuoyi Under FDA Review for NPC Treatment
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China-based Junshi Biosciences (HKG: 1877, SHA: 688180) announced that the Biologics License Application (BLA) for its programmed death-1 (PD-1) inhibitor Tuoyi (toripalimab) has been re-filed with and is under review by the US FDA. The filing covers two indications: Tuoyi’s use in combination with gemcitabine/cisplatin as a first-line treatment of…
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I-Mab and MorphoSys License Drugs to HIBio in Global Oncology Deal
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China-based I-Mab (NASDAQ: IMAB) detailed a licensing and equity investment deal between its German partner MorphoSys AG (FSE: MOR; Nasdaq: MOR) and U.S. biotech Human Immunology Biosciences, Inc. (HIBio). Under the agreement, MorphoSys granted HIBio global rights to develop and commercialize two drugs: the CD38 antibody felzartamab and the C5aR1…
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Adicon Holdings and Guardant Health Partner on Genomic Profiling in China
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China-based Adicon Holdings Limited announced a strategic partnership with U.S. firm Guardant Health, Inc. (NASDAQ: GH), a leading precision oncology company, to bring Guardant’s comprehensive genomic profiling (CGP) tests to biopharmaceutical firms conducting clinical trials in China. The deal grants Adicon access to Guardant’s liquid biopsy technology, including the Guardant360,…
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BeiGene and InnoRNA Partner on mRNA-LNP Therapeutic Development
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China-based biotech firm BeiGene (HKG: 6160, SHA: 688235, NASDAQ: BGNE) announced a strategic partnership with compatriot company InnoRNA, a specialist in lipid-nanoparticle (LNP)-based delivery technology and mRNA drug discovery. The collaboration aims to leverage InnoRNA’s innovative platform for developing mRNA-based therapeutics. Agreement TermsUnder the deal, InnoRNA will receive an upfront…
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PackGene and SineuGene Partner on ALS Gene Therapy Research
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China-based PackGene has entered into another partnership with compatriot firm SineuGene. This time, the focus is on plasmid pharmaceutical research, adeno-associated virus (AAV) pharmaceutical research, AAV batch release testing, analytical methodology development, stability research, and more. The collaboration aims to support SineuGene’s lead pipeline candidate SG001, a genetic therapy under…
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Phil Rivers Tech Raises RMB 100 Million for Computational Medicine Push
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Beijing-based Phil Rivers Tech, a computational medicine-empowered drug developer, reportedly raised close to RMB 100 million (USD 14.9 million) in a Series A financing round. The funding was led by Insight Capital and Tenaya Capital, with participation from Highthink Med. The proceeds will be used for the upgrade of its…
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Gan & Lee Pharmaceuticals Doses First Patient in GZR101 Phase I Study
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China-based Gan & Lee Pharmaceuticals (SHA: 603087) announced that the first patient has been dosed in a China-based Phase I clinical study for its drug candidate GZR101. The first-in-human study aims to evaluate the safety, tolerability, pharmacodynamics, and pharmacokinetics of the GZR101 injection and its component GZR33. Drug Details and…
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Fosun Pharma’s FS-1502 Gets NMPA Approval for Gastric Cancer Study
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China-based Shanghai Fosun Pharmaceutical (Group) Co., Ltd (SHA: 600196, HKG: 2196) announced that it has received approval from the National Medical Products Administration (NMPA) to conduct a Phase II clinical study for its HER2 monoclonal antibody (mAb) injection FS-1502 in HER2-expressing advanced gastric cancer patients. The study will evaluate the…
