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WuXi Biologics Partners with AstraZeneca for Local Production of Evusheld
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China-based WuXi Biologics (HKG: 2269), a leading Contract Research, Development, and Manufacturing Organization (CRDMO), announced a strategic partnership with UK pharmaceutical giant AstraZeneca for the local manufacturing of Evusheld (tixagevimab, cilgavimab), a COVID-19 prophylactic neutralizing antibody combination. Financial details of the partnership were not disclosed. Drug ApprovalsEvusheld received Emergency Use…
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Structure Therapeutics Oversubscribes USD33m on Top of USD100m Series B Round
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Structure Therapeutics, a Sino-US firm formerly known as ShouTi Inc., announced the oversubscription of USD33 million on top of a USD100 million Series B financing round in October last year. The expanded funding included new investors such as Deep Track Capital and Piper Heartland Healthcare Capital. Proceeds will support key…
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Ascletis Pharma’s ASC10 Receives IND Approval for COVID-19 Treatment in US and China
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China-based Ascletis Pharma Inc. (HKG: 1672) has provided updates on the clinical progress of ASC10, its oral RNA-dependent RNA polymerase (RdRp) drug therapy for COVID-19. The National Medical Products Administration (NMPA) has accepted an Investigational New Drug (IND) filing for review, and the US Food and Drug Administration (FDA) has…
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ProfoundBio Receives FDA Approval for PRO1184, Appoints New CMO
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China-based macromolecular targeted therapy developer ProfoundBio (Suzhou) Co., Ltd announced that it has received clinical trial approval from the US Food and Drug Administration (FDA) for its antibody drug conjugate (ADC) PRO1184 in advanced tumors. The announcement was made alongside the appointment of Dr. Naomi Hunder as the company’s chief…
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AstraZeneca’s H1 2022 Revenues Surge 48%, Led by Oncology and Vaccines
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UK-based AstraZeneca (AZ, NASDAQ: AZN) released its financial report for H1 2022, showing a 48% year-on-year (YOY) increase in total global revenues to USD22.16 billion in constant currency terms. The company saw strong growth across various disease areas and key products. Business Performance Key Products COVID-19 Portfolio Geographical Performance Challenges…
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Lee’s Pharma Completes Enrollment for NVK-002 Myopia Trials in China
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Lee’s Pharmaceutical Holdings Ltd (HKG: 0950) subsidiary Zhaoke Ophthalmology Ltd (HKG: 6622) announced the completion of patient enrollment in two Phase III trials for NVK-002, its core product for controlling myopia progression in children and adolescents. The studies, known as China CHAMP and Small CHAMP, mark a key milestone in…
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Lynk Pharma Gets NMPA Green Light for LNK01004 Atopic Dermatitis Study
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Hangzhou-based Lynk Pharmaceuticals Co., Ltd announced it has received approval from the National Medical Products Administration (NMPA) to conduct a clinical study of its drug LNK01004 for atopic dermatitis (AD). The drug was previously approved for a clinical trial in mild to moderate plaque psoriasis, with the first patient dosed…
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Sciwind Biosciences’ XW003 Hits Phase II Trial Goals in Type 2 Diabetes Treatment
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Hangzhou-based biopharma Sciwind Biosciences Co., Ltd announced positive results from a 20-week Phase II trial of its XW003 (ecnoglutide) in Chinese adults with type 2 diabetes (T2D). The study demonstrated the drug’s safety, tolerability, and significant HbA1c reductions, meeting primary endpoints. Study DetailsThe multi-center, randomized, placebo-controlled trial involved 145 patients…
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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…
