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Denali Therapeutics and Takeda Halt Development of Alzheimer’s Drug Candidate TAK-920/DNL919
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US-based biopharmaceutical company Denali Therapeutics Inc., (NASDAQ: DNLI) has announced in its Q2 2023 financial report that, in mutual agreement with development partner Takeda Pharmaceutical Co., Ltd (NYSE: TAK), the decision has been made to cease development of the Alzheimer’s drug candidate TAK-920/DNL919. This strategic decision was influenced by data…
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Poseida Therapeutics Secures $50 Million Investment from Astellas for Cell and Gene Therapy
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US-based cell and gene therapy developer Poseida Therapeutics, Inc. (NASDAQ: PSTX) has announced a significant strategic investment of $50 million by Japan-headquartered Astellas (TYO: 4503). The investment consists of the purchase of 8,333,333 shares of common stock at $3.00 per share, totaling $25 million, and an additional one-time payment of…
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Lee’s Pharmaceutical’s Subsidiary Completes Phase III Study for Myopia Treatment NVK002
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China-based Lee’s Pharmaceutical Holdings Ltd (HKG: 0950) subsidiary, Zhaoke Ophthalmology Ltd (HKG: 6622), has announced the completion of the last patient visit in the one-year Phase III bridging study, Mini-CHAMP, for its NVK002—an atropine external use eye solution for myopia progression. Parallel Phase III Clinical Trials for NVK002In addition to…
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Eyebright Medical Technology’s Intraocular Lenses Earn Fast-Track Status in China
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Beijing-based Eyebright Medical Technology Co., Ltd (SHE: 688050) has announced that its “intraocular lenses with crystalline eyes” have been granted fast-track status as an innovative medical device in China. This designation underscores the potential impact of the company’s technology on the field of ophthalmology. Refractive Intraocular Lenses for Myopia CorrectionThe…
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Neurophth Biotechnology Secures RMB700 Million in Series C+ Financing for Gene Therapy Development
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China-based gene therapy specialist Neurophth Biotechnology Ltd has reportedly secured close to RMB700 million in a Series C+ financing round. The round was led by Changjiang Zhaoyin Industrial Fund, Optics Valley Financial Holing, Wuhan Hi-Tech, and Optics Valley Industrial Investment, all state-owned entities, along with Guangzhou Finance Holdings. This financing…
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Novartis Reports Positive Phase III Results for Remibrutinib in Chronic Spontaneous Urticaria
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Swiss pharmaceutical giant Novartis AG (NYSE: NVS) has announced positive data from the Phase III trials for remibrutinib, an oral Bruton’s tyrosine kinase (BTK) inhibitor, which is under development to treat chronic spontaneous urticaria (CSU). The Phase III REMIX-1 and REMIX-2 studies successfully met all primary and secondary endpoints, showing…
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Burning Rock Partners with AstraZeneca to Develop Companion Diagnostics for Cancer Therapies
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Guangzhou-based medical device giant Burning Rock (NASDAQ: BNR) has announced a strategic partnership with AstraZeneca (AZ, NASDAQ: AZN). The collaboration will utilize Burning Rock’s world-leading testing technology and high-quality, standardized testing capacities to develop and commercialize companion diagnostics (CDx) products for AstraZeneca’s breast cancer and prostate cancer therapies. Financial details…
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Audit Reveals Illicit Payments and Inflated Prices in Pharmaceutical Industry
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An audit has shed light on the use of third-party business promotion companies as a core method for illicit payments within the pharmaceutical sector. From 2021 to May 2023, three provincial pharmaceutical companies paid fees to 1,936 third-party business promotion companies, generating fake service fees and names to withdraw funds…
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Eli Lilly & Co. Reports 28% YOY Revenue Increase in Q2 2023 Financials
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US pharmaceutical giant Eli Lilly & Co., (NYSE: LLY) has released its financial results for the second quarter of 2023, revealing a robust 28% year-on-year (YOY) growth in revenues to USD 8.31 billion. This performance has surpassed expectations, prompting the company to upgrade its guidance for full-year revenues and profits.…
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FibroGen’s Evrenzo Achieves Record Sales in China, Outlook for 2024 Remains Promising
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US-based biopharmaceutical company FibroGen Inc., (NASDAQ: FGEN) has released its financial report for the second quarter of 2023, featuring record new highs for sales of the first-in-class HIF prolyl-hydroxylase inhibitor, Evrenzo (roxadustat), in China. Total net sales of Evrenzo in China, including through a joint venture with AstraZeneca, reached USD…
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Bayer AG Reports Q2/H1 2023 Financials with Challenges in Crop Science and Pharmaceuticals
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Germany-based multinational Bayer AG (ETR: BAYN) has released its financial report for the second quarter and first half of 2023, which indicates the group is facing difficulties due to the performance of its crop science and pharmaceutical business units. The China market, in particular, has been identified as a significant…
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Novo Nordisk’s Wegovy Demonstrates 20% Reduction in Cardiovascular Events in SELECT Trial
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Denmark-based pharmaceutical giant Novo Nordisk A/S (NYSE: NVO) has released topline data supporting the use of its anti-obesity drug Wegovy (semaglutide). The data originates from the SELECT cardiovascular outcomes trial, which enrolled an extensive cohort of 17,604 adults suffering from obesity and established cardiovascular disease (CVD), but without diabetes. This…
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CanSino Biotechnology Partners with AstraZeneca for mRNA Vaccine Development and Manufacturing
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China-based vaccines specialist CanSino Biologics Inc., (HKG: 6185) has announced a product supply cooperation framework agreement with UK pharmaceutical major AstraZeneca (AZ, NASDAQ: AZN). The agreement entails providing contract development and manufacturing services for AstraZeneca’s mRNA vaccine, with no financial details disclosed. Focus on mRNA Production Platform and Vaccine R&DThis…
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Lynk Pharmaceuticals’ LNK01001 Shows Positive Results in Atopic Dermatitis Phase II Study
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China-based Lynk Pharmaceuticals Co., Ltd has announced that its Phase II clinical study for LNK01001 in atopic dermatitis (AD) has yielded positive major results. The study, a randomized, double-blinded, placebo-controlled, multi-center trial, enrolled 150 patients and included high-dose and low-dose groups of LNK01001 alongside a placebo group. Study Design and…
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BioNTech Expands Partnership with Duality Biologics for Global Rights to ADC DB-1305
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Germany-based BioNTech SE (NASDAQ: BNTC) has entered into a cooperation expansion agreement with its existing partner, Duality Biologics (Suzhou) Co., Ltd. This new deal grants BioNTech global development, manufacturing, and commercialization rights to the antibody drug conjugate (ADC) DB-1305, excluding Greater China, which includes China mainland, Hong Kong, and Macau.…
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Johnson & Johnson Reaches Settlement with Fresenius Kabi and Formycon AG for Stelara Biosimilar
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US pharmaceutical giant Johnson & Johnson (J&J; NYSE: JNJ) has entered into its latest settlement agreement with Fresenius Kabi and Formycon AG, granting the companies a license to launch their biosimilar version of ustekinumab, FYB202, no later than April 15, 2025. This marks the third agreement signed by J&J with…
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VistaGen’s Fasedienol Phase III Success Sends Shares Soaring Over 600%
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Shares of San Francisco-based biotech VistaGen (NASDAQ: VTGN) experienced a dramatic increase of over 600% by the end of trading yesterday, following the release of positive topline Phase III data for fasedienol, a novel rapid-onset nasal spray treatment for social anxiety disorder (SAD). The PALISADE-2 study demonstrated that fasedienol achieved…
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Nektar Therapeutics and Eli Lilly & Co. Face Off in Court Over REZPEG Partnership Dispute
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A legal feud between US-based Nektar Therapeutics (NASDAQ: NKTR) and pharmaceutical giant Eli Lilly & Co. (NYSE: LLY) is unfolding over alleged conflicts of interest and botched data analysis related to their partnership for the development of rezpegaldesleukin (REZPEG; NKTR-358), a first-in-class regulatory T (Treg) cell stimulator targeting the interleukin-2…
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BioCity Biopharma Receives FDA IND Approval for CD3-EGFR BsAb BC3448
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China-based biotechnology company BioCity Biopharma has announced that it has received Investigational New Drug (IND) approval from the US Food and Drug Administration (FDA) for its cluster of differentiation-3 (CD3) epidermal growth factor receptor (EGFR)-targeted bispecific antibody (BsAb), BC3448. With this approval, the company will now initiate a Phase I…
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Zai Lab Ltd Reports Q2 2023 Financials with 53% YOY Product Revenue Growth
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China-based Zai Lab Ltd (NASDAQ: ZLAB; HKG: 9688) has released its financial results for the second quarter of 2023, along with recent product highlights and corporate updates. The company reported total product revenues of USD 68.9 million for the quarter, marking a 53% year-on-year (YOY) increase at constant exchange rates.…
