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Ping An Good Doctor Reports 2022 Interim Results with Revenue Decline and User Growth
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China-based Ping An Healthcare and Technology Co., Ltd (HKG: 1833), also known as PingAn Good Doctor, has released its 2022 interim financial report. The report reveals a year-on-year (YOY) decline in total revenue and gross profits, alongside a significant reduction in net losses and continued growth in the number of…
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WuXi STA Breaks Ground on New US Manufacturing Site in Delaware
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WuXi STA, a subsidiary of WuXi AppTec Co., Ltd (SHA: 603259), has announced the commencement of construction on a new manufacturing site in Delaware, United States. The 190-acre campus in Middletown, first announced in June 2021, will serve as STA’s second facility in the US. Key Details of the New…
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ZhenGe Biotech Secures RMB 100 Million in Series C+ Funding for CDMO Expansion
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China-based Contract Development and Manufacturing Organization (CDMO) ZhenGe Biotech has reportedly raised RMB 100 million (USD 14.6 million) in a Series C+ financing round. The funding was backed by Guoyao Zhongjin (Shanghai) Medical Health Investment, ZhangKeHeRun Fund, Lingang Lanwan Private Equity Fund, and SPINNOTEC/Haiwang Capital. With this latest round, ZhenGe…
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Henlius Pharma’s 2022 Interim Revenue Jumps 103.5% on Biosimilar Sales and Licensing
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Shanghai Henlius Pharmaceutical Co., Ltd (HKG: 2696) reported RMB 1.29 billion (USD 189.4 million) in revenue for the 2022 interim period, a 103.5% year-on-year (YOY) increase. The growth was driven by sales of commercialized products and licensing income. R&D investment reached RMB 827.4 million (USD 121.5 million). Product PipelineHenlius’s pipeline…
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LongBio Pharma Raises Series A+ Funding to Advance Autoimmune Disease Drug Development
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LongBio Pharma, a Shanghai-based next-generation macromolecular antibody developer, has raised tens of millions of renminbi in a Series A+ financing round led by existing investors. The funds will be used to accelerate a Phase I clinical study and pre-clinical research, expand the product pipeline, and enhance the technology platform. Company…
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Fosun Kite’s Yescarta CAR-T Therapy Secures New Clinical Trial Approval in China
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Fosun Kite Biotechnology Co., Ltd, a joint venture between Shanghai Fosun Pharmaceutical (Group) Co., Ltd (SHA: 600196) and Gilead’s Kite Pharma, has received another clinical trial approval for its anti-CD19 chimeric antigen receptor (CAR) T therapy Yescarta (axicabtagene ciloleucel). The new indication targets adult large B-cell lymphoma (r/r LBCL) that…
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mProbe Raises Funds in Series B1 Round Led by AstraZeneca and CICC
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Zhejiang-based mProbe, a protein and metabolomic marker discovery technology-based platform company, has reportedly raised an undisclosed amount of money in a Series B1 financing round. The round was solely led by AstraZeneca and CICC’s first joint global medical fund. Proceeds will be used to expand its product pipeline for women’s…
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Huahai Pharma to Manufacture Pfizer’s Paxlovid for China Market
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China-based Zhejiang Huahai Pharmaceutical Co., Ltd (SHA: 600521) has entered into a manufacturing and supply agreement with US pharmaceutical giant Pfizer. Under the agreement, Huahai Pharma will provide formulation contract production services for Pfizer’s COVID-19 therapy Paxlovid in mainland China. Financial details of the deal were not disclosed. Paxlovid OverviewPaxlovid…
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Recbio Completes Phase II Trial Enrollment for ReCOV COVID-19 Vaccine
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China-based vaccine maker Jiangsu Recbio Technology Co., Ltd (HKG: 2179) announced the completion of enrollment and dosing of all subjects in a Phase II clinical study for its ReCOV, a recombinant protein COVID-19 vaccine, with Pfizer’s mRNA vaccine Comirnaty as a control. The study, approved in the Philippines on August…
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Healsun Biopharm Raises USD 36.7 Million in Series B Financing for Antibody CDMO Expansion
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China-based Hangzhou Healsun Biopharm Co., Ltd, an antibody and recombinant Contract Development and Manufacturing Organization (CDMO) with a business unit in Shanghai, has reportedly raised close to RMB 250 million (USD 36.7 million) in a Series B financing round. The round was led by Shanghai Biomedicine Fund and included contributions…
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Sirnaomics Initiates Phase I/II Trial for STP705 in Facial Squamous Cell Carcinoma
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Sino-US siRNA therapy developer Sirnaomics Ltd (HKG: 2257) announced the first subject systemic dosing in a Phase I/II clinical study for its therapeutic candidate STP705 in facial squamous cell carcinoma in situ (isSCC). The study is expected to be completed during Q1 2023. Study Design and ObjectivesThe open-label, dosage escalation…
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Biocytogen Pharmaceuticals Makes HKSE Debut with USD 70 Million IPO
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Sino-US contract research organization (CRO) Biocytogen Pharmaceuticals (Beijing) Co., Ltd has completed an initial public offering (IPO) of 21.76 million shares on the Hong Kong Stock Exchange (HKSE), raising a total of HKD 549 million (USD 69.97 million). Company Overview and Core ProductsFounded in 2009, Biocytogen has a pipeline that…
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CSPC Pharmaceutical’s Mitoxantrone Liposome Approved for NMOSD Clinical Study
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China-based CSPC Pharmaceutical Group Ltd (HKG: 1093) announced that its mitoxantrone hydrochloride liposome has received approval from the National Medical Products Administration (NMPA) to proceed with a clinical study for neuromyelitis optica spectrum disorders (NMOSD). This follows the product’s initial approval in January this year for the treatment of relapsed…
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Jemincare Licenses Oral Androgen Receptor Degrader to Roche’s Genentech
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China-based Jiangxi Jemincare Group has entered into a licensing agreement with Swiss giant Roche’s Genentech. The deal grants Genentech exclusive global development and commercialization rights to Jemincare’s oral androgen receptor (AR) degrader, JMKX00299, including all related intellectual property rights. Financial TermsUnder the agreement, Genentech will pay a USD60 million upfront…
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Spinraza’s NRDL Inclusion Boosts SMA Patient Treatment in China
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The Meier Advocacy & Support Center for Spinal Muscular Atrophy (SMA) and the Shenzhen Research Institute of the Chinese University of Hong Kong jointly released a report titled “Research on the Quality of Life of Chinese SMA Patients.” The report indicates that among patients treated with Biogen’s Spinraza (nusinersen), 76.4%…
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GenScript Biotech Sues Former CSO Fan Xiaohu for Trade Secret Infringement
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Hong Kong-based Contract Research Organization (CRO) GenScript Biotech Corporation (HKG: 1548) has sued its former executive, Fan Xiaohu. Fan is the co-founder and former Chief Science Officer (CSO) of its subsidiary Legend Biotech Corporation (NASDAQ: LEGN). The lawsuit is for infringement of trade secrets and is being brought at the…
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Innovent Biologics Initiates Phase I Study of IBI311 for Thyroid-Associated Ophthalmopathy
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China-based biotech Innovent Biologics Inc. (HKG: 1801) announced that the first subject has been dosed in a Phase I clinical study for its IBI311, an insulin-like growth factor 1 (IGF-1R) monoclonal antibody (mAb). Study DetailsThe Phase I dosage escalation study (CTR20221581) is designed to assess the safety and tolerability of…
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Baidu Health’s Precision Matching Engine Powers Public Hospitals
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China Internet giant Baidu’s one-stop health management platform Baidu Health has updated the status of its precision physician-patient matching engine. The platform is designed to empower public Class 3A hospitals and specialty hospitals via big data and artificial intelligence (AI) technology. It allows accurate matching of specialty services in the…
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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…
