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Ningbo Health Gene Raises Hundreds of Millions in Series C Financing
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Ningbo Health Gene Technologies Co., Ltd, a China-based medical testing solution provider, has reportedly raised “hundreds of millions” of renminbi in a Series C financing round led by SCGC. Other investors included BioTrack Capital, Hefeng Venture Capital, Yingong Venture Capital, and Binjiang Xincheng Development Investment. The proceeds will be directed…
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Intuitive Surgical-Fosun JV Breaks Ground on Shanghai Medical Robot Base
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Intuitive Surgical-Fosun Medical Technology (Shanghai) Co., Ltd, a joint venture (JV) between China-based Shanghai Fosun Pharmaceutical (Group) Co., Ltd (SHA: 600196) and US firm Intuitive Surgical, Inc, has commenced construction on a 2.08-hectare headquarters and industrialization base. The medical robot manufacturing R & D center is situated in Zhangjiang Hi-Tech…
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Bayer AG’s Q2 2022 Results Show Global Sales Growth Amid China VBP Pressures
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Germany-based pharmaceutical giant Bayer AG (VIE: BAYN) released its Q2 2022 financial report, revealing a global sales growth of 9.6% year-on-year (YOY) in constant exchange rate terms to EUR12.8 billion (USD13 billion). The growth was driven by strong performances in the Pharmaceuticals and Consumer Health segments. Pharmaceuticals and Consumer HealthIn…
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Intellective Biologics Raises Over RMB500m in Series C Financing Round
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China-based macromolecule-focused Contract Development and Manufacturing Organization (CDMO) Intellective Biologics (Suzhou) Co., Ltd has reportedly raised over RMB500 million (USD74.1 million) in a Series C financing round. The round was co-led by Tsing Song Capital and Gaorong Capital, with participation from Fuho Capital, CNCB Investment, Founder Securities, and Win Harbor…
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MicuRx Pharmaceuticals Completes RMB1.06B IPO for Antibacterial Drug Development
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Shanghai-based antibacterial drug developer MicuRx Pharmaceuticals has officially made an initial public offering (IPO) of 130 million shares priced at RMB8.16 (USD1.21) per share on Shanghai’s Sci-Tech Innovation Board (STAR). With 655 million shares issued, the IPO will bring in RMB1.06 billion (USD157 million) for MicuRx. Product PipelineMicuRx’s MRX-I (contezolid),…
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invoX Pharma Extends Tender Offer for F-star Therapeutics to September 19
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invoX Pharma Ltd, a UK-based subsidiary of China’s Sino Biopharmaceutical Ltd (HKG: 1177), announced that its tender offer for all outstanding shares of UK bispecific antibody specialist F-star Therapeutics Inc. (Nasdaq: FSTX) has been extended. The existing offer of USD7.12 per share remains unchanged, representing a total deal value of…
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Merck Launches Prevymis, a Non-Nucleoside CMV Inhibitor, in China
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US pharmaceutical giant Merck Sharp & Dohme (MSD, NYSE: MRK) announced the commercial launch of its non-nucleoside cytomegalovirus (CMV) inhibitor Prevymis (letermovir) in China. The drug received market approval in December 2021 for the prevention of CMV infection and CMV disease in adult recipients with CMV seropositive [R+] undergoing allogeneic…
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BeiGene’s Q2 2022 Revenues Surge 120%, Brukinsa Sales Triple
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BeiGene (NASDAQ: BGNE, HKG: 6160, SHA: 688235) reported its financial results for Q2 2022, recording USD304.5 million in product revenues, a 120% increase compared to USD138.6 million from the same period last year. The growth was primarily driven by strong sales of its Bruton’s tyrosine kinase (BTK) inhibitor Brukinsa (zanubrutinib)…
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Innovent Biologics and Sanofi Announce License Deal for Drug Development in China
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China-based biotech firm Innovent Biologics Inc. (HKG: 1801) and France’s Sanofi SA (NASDAQ: SNY) have announced a license and collaboration agreement. Under the deal, Sanofi will license two of its drugs to Innovent for development in China, alongside Innovent’s PD-1 inhibitor Tyvyt (sintilimab). Sanofi will also invest EUR300 million (USD306…
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Eli Lilly Reports First Quarterly Revenue Dip in Two Years, China Sales Plunge
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US-based Eli Lilly & Co. (NYSE: LLY) released its Q2 2022 financial report, revealing a first quarterly dip in global revenues in two years. Global sales revenues were down 1% year-on-year (YOY) in constant currency terms to USD6.488 billion. This decline was primarily due to the full impact of generic…
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Novo Nordisk’s H1 2022 Results Show Strong Global Sales Growth, China Sales Dip
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Denmark-based Novo Nordisk (NYSE: NVO) released its H1 2022 financial results, reporting a 14% year-on-year (YOY) increase in global sales to DKK83.3 billion (USD11.42 billion) in constant exchange rate terms. The company saw strong sales growth in International Operations, up 10% YOY, and in North America, up 24% YOY. Diabetes…
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Shanghai Pharmaceuticals Partners with HKSTP and Shanghai Biomedicine Fund on R&D Collaboration
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Shanghai Pharmaceuticals (HKG: 2607, SHA: 601607), a leading Chinese pharmaceutical company, has entered into a memorandum of understanding to collaborate with Hong Kong Science & Technology Park (HKSTP) and Shanghai Biomedicine Fund, a RMB 50 billion (USD 11.44 billion) municipal industry fund approved by the Shanghai government and initiated by…
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Zhongsheng Pharmaceutical Completes Phase I Study of RAY1216 for COVID-19 Treatment
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China-based Guangdong Zhongsheng Pharmaceutical Co., Ltd (SHE: 002317) announced the completion of subject enrollment and clinical observation for the Phase I clinical study of RAY1216, an innovative oral therapy for the novel coronavirus developed by its subsidiary Guangdong Raynovent Biotech Co., Ltd. The study results demonstrated good safety and pharmacokinetic…
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CSPC Pharmaceutical’s rhTNK-tPA Meets Primary Endpoint in Stroke Study
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China-based CSPC Pharmaceutical Group Ltd (HKG: 1093) announced that the Phase III clinical study for its recombinant human TNK tissue-type plasminogen activator for injection (rhTNK-tPA) in acute ischemic stroke has reached the pre-set primary endpoint. Study DetailsThe multi-center, prospective, randomized, open, blinded, non-inferiority Phase III clinical study was designed to…
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HeNan Genuine Biotech Files for IPO to Fund Azvudine Commercialization
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China-based HeNan Genuine Biotech Co., Ltd has filed for an initial public offering (IPO) with the Hong Kong Stock Exchange (HKSE). The proceeds from the IPO will be used for the manufacturing and commercialization of its COVID-19 therapy azvudine, as well as the clinical development of drugs for HIV infection,…
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Innovent Biologics’ Q2 2022 Revenues Surpass RMB 1 Billion, Seven Products Approved
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Innovent Biologics Inc. (HKG: 1801) released its Q2 2022 financial report, with product revenues exceeding RMB 1 billion (USD 148.2 million). The company has obtained marketing approvals for seven products to date, including PD-1 inhibitor Tyvyt (sintilimab), Byvasda (bevacizumab), a biosimilar version of Avastin, Sulinno, autoimmune disease drug Humira (adalimumab),…
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Hybio Pharmaceutical’s HY3000 Nasal Spray for COVID-19 Enters NMPA Review
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China-based Hybio Pharmaceutical Co., Ltd (SHE: 300199) announced that its clinical trial filing for HY3000 nasal spray, a Category 1 chemical drug targeting COVID-19, has been accepted for review by the National Medical Products Administration (NMPA). Drug DetailsHY3000 is a novel polypeptide membrane fusion inhibitor that binds to the HR1…
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GenScript’s Legend Biotech Appoints Three New Directors to Board
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Hong Kong-based Contract Research Organization (CRO) GenScript Biotech Corporation (HKG: 1548) announced that its subsidiary Legend Biotech Corporation (NASDAQ: LEGN) has appointed Dr. Fangliang Zhang, Dr. Li Mao, and Mr. Tomas J. Heyman to the Company’s Board of Directors, effective as of August 2, 2022. Dr. Zhang, Dr. Mao, and…
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Boehringer Ingelheim Wins Patent Infringement Ruling Against HEC Over Trajenta
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The China National Intellectual Property Administration (CNIPA) has ruled in favor of German pharmaceutical giant Boehringer Ingelheim (BI) in a patent infringement dispute with HEC and its affiliate Yichang HEC Changjiang Pharmaceutical Co., Ltd. The ruling centers on BI’s patent protecting the linagliptin compound used in its Trajenta diabetes drug.…
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Zelgen’s Jacktinib Hits Phase IIb Endpoint in Myelofibrosis Study
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Suzhou Zelgen Biopharmaceuticals Co., Ltd (SHA: 688266) announced the successful completion of a pivotal Phase IIb clinical trial (ZGJAK006) for its in-house Janus kinase (JAK) inhibitor, jacktinib, in patients with ruxolitinib-intolerant, medium- to high-risk myelofibrosis. The study met its primary endpoint, with 43.2% of subjects achieving ≥35% spleen volume reduction…
