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WuXi Biologics’ Revenues Surge 63.5% in H1 2022 on Strong CRDMO Growth
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China-based Contract Research, Development, and Manufacturing Organization (CRDMO) WuXi Biologics (HKEX: 2269) published its unaudited interim financial report for the six months ending on June 30, 2022. Revenues increased by 63.5% during the period to RMB7.21 billion (USD1 billion). Growth DriversThe company’s growth drivers include the successful implementation of its…
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MingMed Biotech’s Hong Kong IPO Signals Push for First-in-Class Drugs
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Guangzhou-based MingMed Biotech has officially made an initial public offering (IPO) to the Hong Kong Stock Exchange (HKSE). CICC and Credit Suisse are acting as co-sponsors. Company OverviewThe innovation-driven pharmaceutical company is focused on the self-discovery and development of potential first-in-class (FIC) drugs. These drugs aim to address major unmet…
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Junshi Biosciences’ JunMaiKang Biosimilar Gets NMPA Approval Filing
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China-based Junshi Biosciiences (HKG: 1877, SHA: 688180) has announced that another market approval filing for JunMaiKang, a biosimilar version of AbbVie’s auto-immune disease drug Humira (adalimumab) co-developed by Mabwell, has been accepted by the National Medical Products Administration (NMPA). In addition, the NMPA also accepted a clinical trial filing for…
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Applied Protein Technology Raises Hundreds of Millions in Series B Funding
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Shanghai-based Applied Protein Technology (APT Bio), a biotech company focused on mass spectrometry multi-omics precision medicine, has reportedly raised “hundreds of millions” of renminbi in a Series B financing round. The round was led by Legend Capital. The funds will allow the company to double down on mass spectrometry multi-omics…
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SciClone Licenses Menarini’s Vaborem to Tackle Drug-Resistant Infections in China
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SciClone Pharmaceuticals Inc (Nasdaq: SCLN), a China-based company since going private in 2017, announced a licensing agreement with Italy-based Menarini Group regarding the latter’s novel drug Vaborem (meropenem). Under the agreement, SciClone will obtain development, regulatory, and commercialization rights to the antibacterial drug in China. SciClone will pay Menarini Group…
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Zelgen Biopharmaceuticals’ ZGGS18 Receives NMPA Approval for Solid Tumor Treatment
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China-based Suzhou Zelgen Biopharmaceuticals Co., Ltd (SHA: 688266) announced that it has received clinical trial approval from the National Medical Products Administration (NMPA) for its drug candidate ZGGS18. The molecule will be assessed as a treatment for general advanced solid tumors. Drug DetailsZGGS18 is a bispecific antibody (BsAb) targeting vascular…
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Fortune Care Raises Hundreds of Millions in Series B for Elderly Care Expansion
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Fushoukang (Shanghai) Family Services Co., Ltd, also known as Fortune Care, a Shanghai-based smart elderly care services provider empowered by information technology, has reportedly raised “hundreds of millions” of renminbi in a Series B financing round. This follows a Series B round held in December last year, which raised “tens…
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Sihuan Pharmaceutical Restructures with Dual Organization Model
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China’s Sihuan Pharmaceutical Holdings Group Ltd (HKG: 0460) announced a structural reshuffling, setting up a dual organization structure consisting of group headquarters and business platform headquarters. Its subsidiaries Xuanzhu Biopharm Co., Ltd and Jilin Huisheng Biopharmaceutical Co., Ltd, two biopharmaceutical companies, will establish themselves as the new business platform headquarters.…
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Baheal Pharmaceutical Partners with Takeda to Boost Drug Commercialization in China
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China-based health services and distribution giant Baheal Pharmaceutical Group has entered into a partnership with the China unit of Japan-based Takeda Pharmaceutical Co., Ltd. The financial details of the deal were not disclosed. The partnership aims to boost the commercialization of Takeda’s Takepron (lansoprazole), Pantoloc (pantoprazole), and Prevacid (lansoprazole) in…
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Belief-Delivery BioMed’s BBM-H901 Granted BTD for Hemophilia B Prevention
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The Center for Drug Evaluation (CDE) website indicates that Shanghai Belief-Delivery BioMed Co., Ltd’s injectable BBM-H901 has been granted breakthrough therapy designation (BTD) status. The drug is approved for use in preventing bleeding in adult male patients with hemophilia B (congenital factor IX deficiency). Drug DetailsBBM-H901 is a Category 1…
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Wyze Biotech Raises RMB59m to Advance DNT Cell Therapies
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Wyze Biotech Co., Ltd, a Guangdong-based developer of off-the-shelf universal DNT cell therapies, has reportedly raised RMB59 million (USD8.7 million) in a Series A + financing round. The round was led by Utrust Fund and Baidu Venture, among others. The proceeds will support the research and development of off-the-shelf universal…
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Sanjin Pharma’s Subsidiary Gets NMPA Nod for BC007 Cancer Study
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China-based Guilin Sanjin Pharmaceutical Co. Ltd (SHE: 002275) announced that its subsidiary, Dragon Boat Biopharmaceutical (Shanghai) Co., Ltd, has received approval from the National Medical Products Administration (NMPA) to conduct a Phase I clinical study of BC007. The study will assess the safety, tolerability, pharmacokinetics, immunogenicity, and preliminary antitumor efficacy…
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I-Mab and AbbVie End CD47 Antibody Trial but Continue Collaboration
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China-based biotech I-Mab (NASDAQ: IMAB) filed with the US Securities and Exchange Commission (SEC) that its co-development partner AbbVie Inc. (NYSE: ABBV) has decided to end a Phase Ib clinical trial of the CD47 monoclonal antibody (mAb) lemzoparlimab. The trial, which assessed the drug in combination with azacitidine and venetoclax,…
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Menovo Pharmaceutical Plans RMB892m Private Placement to Boost API Production
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China-based Ningbo Menovo Pharmaceutical Co., Ltd (SHA: 603538) has announced plans to raise up to RMB892 million (USD131.6 million) through a private placement. The net proceeds will be used for the creation of an active pharmaceutical ingredients (APIs) and intermediates program with an annual output of 3,760 tons, as well…
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BeiGene Partners with Ontada to Accelerate RWE Development in US Oncology Market
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China-based biotech company BeiGene (HKG: 6160, SHA: 688235, NASDAQ: BGNE) announced that it has signed a strategic agreement with Ontada, a subsidiary of McKesson Corporation, to accelerate the development and use of real-world evidence (RWE) in support of BeiGene’s oncology products in the US market. The financial details of the…
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Grand Pharmaceutical’s Carglumic Acid Set for Priority Review by CDE
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The Center for Drug Evaluation (CDE) website indicates that China-based Grand Pharmaceutical Group Limited’s (HKG: 0512) generic carglumic acid is set for priority review. The indications include hyperammonemia due to N-acetylglutamate synthase deficiency, hyperammonemia due to isovaleric acidemia, hyperammonemia due to methylmalonic acidemia, and hyperammonemia due to propionic acidemia. Reason…
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Ascletis Pharma’s Gannex Initiates DDI Study for ASC42 in PBC
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Ascletis Pharma Inc. (HKG: 1672) announced that its wholly – owned US unit, Gannex, has initiated the first subject dosing in a drug – drug interaction (DDI) study for its drug candidate ASC42 in primary biliary cholangitis (PBC) in the United States. The study is designed to provide additional evidence…
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Venus Medtech’s VenusP-Valve Used Again in US Compassionate Case
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Venus Medtech (Hangzhou) Inc. (HKG: 2500) announced the second US market compassionate use of its VenusP-Valve, a transcatheter pulmonary valve replacement (TPVR) system. The system is intended to treat patients with moderate to severe pulmonary regurgitation with or without right ventricular outflow tract (RVOT) stenosis. The procedure was conducted at…
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Healthnice Pharma Raises RMB100m to Expand Product Pipeline and R&D Team
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China-based Nanjing Healthnice Pharmaceutical Technology Co., Ltd has reportedly raised RMB100 million (USD14.8 million) in another financing round. The round was led by CICC ChuanHua Industrial Equity Investment Fund, with other investors including Sunland Fund and Jiangxi State-owned Industry Development Fund. The proceeds will be used for product pipeline layout…
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Healthnice Pharma Raises RMB100m to Expand Product Pipeline and R&D Team
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China-based Nanjing Healthnice Pharmaceutical Technology Co., Ltd has reportedly raised RMB100 million (USD14.8 million) in another financing round. The round was led by CICC ChuanHua Industrial Equity Investment Fund, with other investors including Sunland Fund and Jiangxi State-owned Industry Development Fund. The proceeds will be used for product pipeline layout…
