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Ascletis Pharma and Roche Terminate Promotion Agreement for Pegasys
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China-based Ascletis Pharma Inc. (HKG: 1672) has announced a supplementary agreement with Swiss pharmaceutical giant Roche, terminating the promotion services previously provided by Ascletis for Roche’s Pegasys (peginterferon alfa-2a) as of December 31, 2022. The initial partnership, established in November 2018, granted Ascletis exclusive marketing and promotion rights to the…
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Apollomics Set to Merge with Maxpro Capital for Nasdaq Listing
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Sino-US biotech Apollomics Inc. has revealed plans to merge with the special purpose acquisition company (SPAC) Maxpro Capital Acquisition Corp., paving the way for a public listing on the Nasdaq stock exchange. The transaction values Apollomics at a pre-money equity of $899 million, with the company expecting to retain up…
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Everest Medicines Appoints Rogers Yongqing Luo as New CEO
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China-based biotech Everest Medicines (HKG: 1952) has announced the appointment of a new CEO, Rogers Yongqing Luo, effective immediately. Luo replaces Dr. Kerry Blanchard, who resigned in August this year. Luo’s Background and ExperienceLuo joins Everest Medicines from Brii Biosciences, where he served as president and General Manager (GM) for…
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Shenzhen Vivolight Raises RMB 100 Million in Series D1 Financing for Laser Therapy Development
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China-based laser diagnosis and treatment specialist Shenzhen Vivolight Medical Device & Technology Co., Ltd reportedly raised over RMB 100 million (USD 14.2 million) in a Series D1 financing round. The round was led by Huajin Capital and Fosun Health Fund, with participation from Kaihe Capital, Sequoia China, and CASSTAR. The…
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Best Covered Raises RMB 100 Million in Series A+ Funding for Cognitive Impairment Solution
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Shanghai-based digital cognitive impairment solution provider Best Covered reportedly raised RMB 100 million (USD 14.2 million) in a Series A+ financing round. The round was led by Cenova Ventures, with additional participation from Long Hill Capital, GSR Ventures, and BioTrack Capital. The proceeds will be used for scientific research investment,…
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US Blocks Asymchem’s Acquisition of Snapdragon Chemistry
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US authorities have intervened to block the purchase of US-based Contract Development and Manufacturing Organization (CDMO) Snapdragon Chemistry by China-based CDMO Asymchem Laboratories (Tianjin) Co., Ltd (SHE: 002821). According to a press release from Snapdragon, the deal faced opposition from the US Treasury’s Committee on Foreign Investment in the United…
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Ascletis Completes Enrollment for HIV Functional Cure Study with PD-L1 Antibody ASC22
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China-based Ascletis Pharma Inc. (HKG: 1672) announced that the clinical study of PD-L1 antibody ASC22 (envafolimab) in combination with chidamide as a functional cure for human immunodeficiency virus (HIV) infection has completed the enrollment of 15 HIV-infected patients. The study achieved this milestone in just two months since the first…
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Eli Lilly Announces Global C-Suite Changes, New Leadership in China
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US-based pharmaceutical giant Eli Lilly (NYSE: LLY) announced significant changes to its global C-suite. Julio Gay-Ger, the current president and general manager of Eli Lilly China, will transition to the role of chief marketing officer and vice president of global marketing for Eli Lilly’s diabetes business. In his new role,…
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China’s Policy Shifts Medical Device Procurement Toward Domestic Products
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Local government policies in China have begun to direct public hospitals to prioritize the procurement of certain medical devices and technologies from domestic producers, where available. According to Nikkei.com, notices to this effect were issued in April in Hubei, Anhui, Shanxi, and Ningxia. This move reportedly follows a national-level internal…
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Antengene Expands to Australia with New Melbourne Office
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China-based biotech firm Antengene (HKG: 6996) announced the opening of its new office in Melbourne, Australia. This strategic move is aimed at supporting the company’s expansion in the Asia Pacific region, with the office covering functions including commercial operations, finance, medical affairs, and clinical and business development. Clinical Trials and…
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Great Bay Bio Completes USD 15M Pre-Series B Financing to Advance AI Bioprocessing Platforms
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Great Bay Bio (GBB), a Hong Kong-based biotechnology firm, announced the completion of a USD 15 million pre-Series B financing round. The funding round was led by Tiger Med’s Tiger Jade Capital, with participation from an unnamed “top life science MNC,” AEF Greater Bay Area Fund (managed by Gobi Partners…
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Zhonghong Pulin Partners with Shanghai Pharma for Logistics and Distribution
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China-based Zhonghong Pulin Medical Product Co., Ltd (SHE: 300981) has entered into a partnership with compatriot firm Shanghai Pharmaceutical Co., Ltd (SHA: 601607). The five-year agreement is designed to leverage and integrate the respective advantageous resources of both companies to achieve mutually beneficial outcomes. Financial details of the partnership were…
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Suzhou Jade Biomedical Secures USD 10 Million Series B Financing
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China-based Suzhou Jade Biomedical Co., Ltd reportedly raised USD 10 million in a Series B financing round led by VMS Group, with participation from Panacea Venture. The proceeds will be used for the purchase of instruments, reagents, and consumables for the company’s biological GMP testing business. Additionally, the funds will…
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Worg Pharmaceuticals Raises RMB 400 Million in Series B Funding
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Worg Pharmaceuticals, a Hangzhou-based developer of novel allergic drugs, reportedly raised RMB 400 million (USD 57.3 million) in a Series B financing round. This follows an RMB 200 million (USD 28.65 million) Series A funding round in January last year. The latest round was backed by Junson Capital, Lapam Capital,…
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Luye Life Sciences Partners with Uzbekistan to Establish Vaccine Center
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China-based Luye Life Sciences Group has struck a partnership with the Ministry of Innovation and Development of the Republic of Uzbekistan. The collaboration, which leverages respective advantageous resources, will lead to the establishment of the Uzbekistan Innovative Vaccine Center in Tashkent, Uzbekistan. The partnership also marks a comprehensive collaboration on…
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Celregen Licenses Regenerative Therapy CLS001 from Japan’s Cellusion
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Hangzhou Celregen Therapeutics Ltd, a subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd (HKG: 2196), has revealed a licensing deal agreement with Japan-based Cellusion Inc., a specialist in regenerative medicines. Under the deal, Celregen has secured development, manufacturing, and commercialization rights to Cellusion’s lead regenerative therapy candidate CLS001 – a…
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Transcenta’s First-in-Class Gremlin1 Antibody TST003 Receives FDA IND Clearance
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China-based Transcenta Holding Limited (HKG: 6628) announced that its TST003, a first-in-class, high affinity humanized monoclonal antibody (mAb) targeting Gremlin1, has received Investigational New Drug (IND) clearance from the US Food and Drug Administration (FDA). This milestone allows Transcenta to proceed with clinical trials for this novel cancer treatment. Gremlin1…
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Bide Pharmatech Set for IPO on Shanghai’s STAR Market
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Shanghai-based Bide Pharmatech Co., Ltd, a specialist in drug building blocks, is set to make an initial public offering (IPO) of 16 million shares on the Shanghai Stock Exchange’s Sci-Tech Innovation Board (STAR), raising an estimated RMB 43.44 million (USD 6.2 million). The move marks a significant milestone for the…
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Alphamab/3DMed’s Envafolimab Gains FDA Fast-Track Status for Sarcoma Treatment
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Alphamab Oncology (HKG: 9966) and 3D Medicines’ envafolimab (KN035) has obtained fast-track status from the US Food and Drug Administration (FDA) for the treatment of locally advanced, unresectable, or metastatic undifferentiated pleomorphic sarcoma (UPS) and myxofibrosarcoma (MFS) that have progressed after chemotherapy. This designation is expected to accelerate the development…
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Suzhou Zelgen Completes Phase II Study of Jakinib for Ankylosing Spondylitis
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Suzhou Zelgen Biopharmaceuticals Co., Ltd (SHA: 688266) announced the successful completion of a multi-center, randomized double-blinded, placebo parallel controlled Phase II clinical study for its jakinib, a Janus kinase (JAK) inhibitor, in patients with active ankylosing spondylitis (AS). The study demonstrated robust results, meeting the pre-set statistical standards and showing…
