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InnoCare Pharma’s IPO Raises $411M for Drug R&D and Platform Upgrade
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China-based InnoCare Pharma (HKG: 9969) has completed an initial public offering (IPO) of 265 million shares on the Shanghai Stock Exchange’s Sci-Tech Innovation Board (STAR) at RMB 11.03 per share ($1.55). The offering raised RMB 2.92 billion ($411 million), with proceeds allocated towards new drug research and development (R&D), upgrading…
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Humanwell’s Generic Clobazam Approved for Lennox-Gastaut Syndrome in China
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China-based Yichang Humanwell Pharmaceutical Co., Ltd’s generic version of Sanofi’s clobazam (trade name: Frisium) has been approved by the National Medical Products Administration (NMPA) for use as a combination therapy for seizures in patients with Lennox-Gastaut syndrome (LGS) aged two years and older. This marks the first availability of this…
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AIM Vaccine Plans IPO to Fund Vaccine R&D and Pipeline Expansion
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China-based AIM Vaccine Co., Ltd plans to make an initial public offering (IPO) of 9.71 million shares to the Hong Kong Stock Exchange at HKD 16.16 ($2.06) per share on October 6, 2022. The proceeds from the HKD 181 million ($23 million) IPO will be used to fund vaccine research…
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AstraZeneca and Merck’s Lynparza Receives New Approval in China
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UK-based AstraZeneca (NASDAQ: AZN) and US-based Merck, Sharp & Dohme (MSD, NYSE: MRK) have announced that they have received another indication approval from the National Medical Products Administration (NMPA) for Lynparza (olaparib). The poly (ADP-ribose) polymerase (PARP) inhibitor is now approved as a maintenance therapy for homologous recombination repair deficiency…
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Shandong Luoxin Partners with Shanghai Pharma for Strategic Services
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China-based Shandong Luoxin Pharmaceutical Group Stock Co., Ltd (SHE: 002793) has announced a partnership with compatriot firm Shanghai Pharmaceutical Co., Ltd. Under the agreement, Shanghai Pharma will become Luoxin’s strategic partner in China, providing a range of services including end delivery and marketing, import and export supply chain management, branding…
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Zelgen Biopharmaceuticals Gains NMPA Approval for Jacktinib Clinical Trial in SLE
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Suzhou Zelgen Biopharmaceuticals Co., Ltd (SHA: 688266) has announced that it has received clinical trial approval from the National Medical Products Administration (NMPA) for its Janus kinase (JAK) inhibitor, jacktinib, in systemic lupus erythematosus (SLE). This marks a significant milestone in the development of this innovative therapy for autoimmune diseases.…
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F-star Therapeutics’ Takeover by Sino Biopharmaceutical Delayed Amid CFIUS Review
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UK-based biotech F-star Therapeutics Inc. (NASDAQ: FSTX) announced in a stock exchange press release that the deadline for its proposed takeover by Sino Biopharmaceutical Ltd (HKG: 1177) subsidiary invoX Pharma has been delayed for a second time. The delay is attributed to a review by the Committee on Foreign Investment…
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Shenzhen NeuroPlus Secures Seed Funding for Neuromodulation and Bioelectronic Medicine
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Shenzhen NeuroPlus has reportedly raised “tens of millions” of renminbi in a seed financing round solely led by Brain Venture Capital. The proceeds will be directed towards medical device research and development, pre-clinical studies, and clinical trial filings. The Guangming Brain Science Technology Industry Innovation Center will provide NeuroPlus with…
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Merck KGaA Opens Viral Clearance Lab in Shanghai’s Biologics Testing Center
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German pharmaceutical giant Merck KGaA has opened a viral clearance (VC) laboratory as part of the first phase of a new EUR 29 million ($28.5 million) China Biologics Testing Center in Shanghai. The 5,000 square meter center is the first of its kind for Merck in China and is designed…
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METiS Therapeutics In-Licenses Voronoi’s Pan-RAF Inhibitor Program
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Cambridge, Massachusetts-based METiS Therapeutics has unveiled its first in-license deal, signing with South Korea’s Voronoi Inc. to secure exclusive global development and commercialization rights to Voronoi’s pan-RAF inhibitor program. The deal involves an upfront payment of $1.7 million and up to $480.5 million in development, regulatory, and sales milestones, as…
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Immuno Cure BioTech Acquires Majority Stake in Shanghai Teresa Healthcare
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Hong Kong-based Immuno Cure BioTech has announced the acquisition of a controlling 92.6% stake in Shanghai Teresa Healthcare, with price specifics not disclosed. The deal grants Immuno Cure control of Teresa’s proprietary electroporation (EP) technology and related devices in China. Deal Structure and Shareholder DetailsBeyond the acquisition, Immuno Cure is…
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Lepu Biotechnology’s MRG003 Receives Orphan Drug Designation from FDA
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China-based Lepu Biotechnology Co., Ltd (HKG: 2157) has announced that it has received orphan drug designation (ODD) status from the US FDA for its core product MRG003, an epidermal growth factor receptor targeted antibody drug conjugate (ADC) for the treatment of recurrent/metastatic nasopharyngeal carcinoma (R/M NPC). Drug Mechanism and DevelopmentMRG003…
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Kamari Pharma Completes $8M Investment from Chinese Fund GIBF2
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Israel-based Kamari Pharma has announced the completion of an $8 million investment from the Chinese fund GIBF2. This brings the total funds raised by Kamari to $16 million. The company was established at the end of 2018 by leading Israel-based biotech funds Pontifax and Arkin Bioholdings. Kamari develops topical and…
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Joincare’s Modified Drug XYP-001 Gains NMPA Approval for IPF Trial
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China-based Joincare Pharmaceutical Group Industry Co., Ltd (SHA: 600380) has announced that it has received clinical trial approval from the National Medical Products Administration (NMPA) for its modified drug XYP-001 inhaler. The targeted indication is idiopathic pulmonary fibrosis (IPF). Disease Overview and Current TherapiesIPF is a chronic progressive fibrotic interstitial…
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Koutech Robotics Secures Series A Funding for Surgical Innovation
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China-based Koutech Robotics (Shanghai) Co., Ltd, a leading ultra-micro, high-precision surgical robot platform company, has reportedly raised “hundreds of millions” of renminbi in a Series A financing round. The round was led by Qiming Venture Partners, with contributions from Proxima Ventures, DNE Capital, Lingang Blue Bay Fund, Winfast Holding, and…
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CARsgen Therapeutics Presents Positive Phase Ib/II Data for CT053 at CAR-TCR Summit
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China-based CARsgen Therapeutics Holdings Ltd presented the results of a multi-center, open-label Phase Ib/II study assessing the safety and efficacy of its B-cell maturation antigen (BCMA)-targeted chimeric antigen receptor (CAR) T cell therapy CT053 (zevor-cel) at the 7th CAR-TCR Annual Summit. The study is being conducted across North America, focusing…
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Joincare Pharmaceuticals Prices GDRs on SIX Swiss Exchange
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China-based Joincare Pharmaceutical Group Industry Co., Ltd (SHA: 600380) has priced its Global Depository Receipts (GDRs) on the SIX Swiss Exchange at $14.42 per share. The company aims to raise $92.04 million through the issuance of 638.25 million GDRs. GDR Issuance DetailsThe GDRs will be available for trading on September…
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Northeast Pharmaceutical to Invest in Shanghai Subsidiary for ADC and CAR-T Development
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China-based Northeast Pharmaceutical Co., Ltd (SHE: 000597) has announced plans to invest RMB 500 million ($71 million) in establishing a wholly-owned subsidiary in Shanghai. The new entity is designed to accelerate the implementation of in-licensed antibody drug conjugates (ADCs) and chimeric antigen receptor (CAR)-T cell therapies, following a recent ADC-focused…
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Lee’s Pharmaceutical Reports H1 Revenue Growth Amid Product Portfolio Shift
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China-based Lee’s Pharmaceutical Holdings Ltd (HKG: 0950) has released its H1 2022 interim financial report, recording HKD 649 million ($82.6 million) in revenue, up 11.1% year-on-year (YOY). The growth was driven by products such as Bredinin (mizoribine), treprostinil, and interferon α2b, which offset declining sales of Ferplex (iron protein succinylate)…
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Junshi Biosciences’ Tuoyi Approved for First-Line NSCLC Treatment in China
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China’s Center for Drug Evaluation (CDE) has approved Junshi Biosciences’ (HKG: 1877, SHA: 688180) Tuoyi (toripalimab) as a first-line treatment for advanced non-small cell lung cancer (NSCLC) in tumors with no EGFR/ALK mutations, in combination with chemotherapy. This marks the sixth indication approval for the programmed death-1 (PD-1) inhibitor in…
