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Beijing’s Gene Cradle Secures Pre-Series B+ Funding Led by Cash Capital
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Gene Cradle, a Beijing-based gene therapy specialist, has reportedly secured tens of millions of renminbi in a pre-Series B+ financing round, with the investment being solely provided by Cash Capital. Company Background and PipelineFounded in 2018, Gene Cradle has established itself as a leader in the development and manufacturing of…
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Gracell Biotechnologies Secures $100 Million in Private Placement with Healthcare Investors
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Suzhou-based biotech firm Gracell Biotechnologies Inc., (NASDAQ: GRCL) has announced a purchase agreement with a select group of institutional and accredited healthcare specialist investors for a private placement of 138,900,000 ordinary shares, equivalent to 27,780,000 American depositary shares (ADSs), at a purchase price of USD 3.60 per ADS. The agreement…
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Biogen and Sage Therapeutics Receive FDA Approval for Postpartum Depression Treatment Zurzuvae
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Biogen Inc., (NASDAQ: BIIB) and its partner Sage Therapeutics Inc., (NASDAQ: SAGE) have announced that the US Food and Drug Administration (FDA) has granted approval for Zurzuvae (zuranolone), marking it as the world’s first approved therapy for adults with postpartum depression (PPD). The approval is for Zurzuvae’s use as a…
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ABVC Biopharma Grants Xinnovation Therapeutics Exclusive Rights to CNS Drug Pipeline in China
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US-based ABVC Biopharma Inc. has entered into a legally binding term sheet with China-based Xinnovation Therapeutics Co., Ltd., handing over exclusive rights to two of its central nervous system (CNS) disease drugs in the Chinese market. Under the agreement, Xinnovation will receive exclusive development, manufacturing, marketing, and distribution rights for…
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Oramed Pharmaceuticals and Hefei Tianhui Biotech to Form Joint Venture for Oral Insulin Product
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Israel-based drug developer Oramed Pharmaceuticals Inc., (NASDAQ: ORMP) has revealed that a deal has been signed with its existing China-based partner, Hefei Tianhui Biotech Co., Ltd (HTIT), to establish a joint venture (JV). The non-binding term sheet signed by both parties outlines that the JV will focus on the development…
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Astellas Pharma’s Izervay Receives FDA Approval for Geographic Atrophy Treatment
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Japan-based Astellas Pharma Inc., (TYO: 4503) has announced that it has received new market approval from the US FDA for its drug Izervay (avacincaptad pegol intravitreal solution) for the treatment of geographic atrophy (GA) secondary to age-related macular degeneration (AMD). This approval reinforces the rationale behind Astellas’ July 2023 acquisition…
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Regeneron Pharmaceuticals Halts Enrollment in REGN5678 Clinical Trial After Patient Deaths
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US-based Regeneron Pharmaceuticals Inc., (NASDAQ: REGN) has reported in its Q2 2023 financial results the suspension of enrollment in a clinical trial for the experimental bispecific antibody (BsAb) drug, REGN5678. This drug, which targets PSMA and CD28, is under Phase I assessment for treating prostate cancer, both as a monotherapy…
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Ascentage Pharma’s Lisaftoclax (APG-2575) Gets FDA Green Light for Phase III Study
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China-based Ascentage Pharma (HKG: 6855) has announced that it has received approval from the US Food and Drug Administration (FDA) to conduct a regulatory Phase III clinical study for its novel Bcl-2 inhibitor, lisaftoclax (APG-2575). The study will evaluate the efficacy of lisaftoclax in combination with a Bruton’s tyrosine kinase…
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Jenscare Scientific and Lifetech Scientific Achieve Milestone with First Compassionate Use of LuX-Valve Plus
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Partners Jenscare Scientific Co., Ltd. (HKG: 9877), a leading structural heart disease device manufacturer based in Ningbo, and Lifetech Scientific Corporation (HKG: 1302) have successfully accomplished the first compassionate use case utilizing Jenscare’s transjugular tricuspid valve replacement product, LuX-Valve Plus, in Hong Kong. Understanding Compassionate UseCompassionate use, also referred to…
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Venus Medtech Receives FDA IDE Approval for VenusP-Valve, a Milestone for Chinese Heart Valve Technology
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Venus Medtech (Hangzhou) Inc. (HKG: 2500) has announced obtaining Investigational Device Exemption (IDE) approval from the US FDA for its VenusP-Valve, marking a significant step as the first China-developed heart valvular system to be approved by the FDA for clinical trial. IDE approval is a critical exemption that allows medical…
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MicroPort CardioFlow Announces Positive Results for Transcatheter Mitral Valve Replacement System
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China-based MicroPort Scientific Corp’s spin-off, MicroPort CardioFlow Medtech Co., Ltd (HKG: 2160), has announced positive follow-up results for its in-house developed transcatheter mitral valve replacement system. The system has successfully treated multiple severe cases of mitral regurgitation, a condition characterized by the leakage of the mitral valve. One-Year Follow-Up and…
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Hansoh Pharmaceutical Regains Rights to Ameile After EQRx Partnership Cancellation
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Hansoh Pharmaceutical Group Co., Ltd (HKG: 3692) has announced the cancellation of its partnership and licensing agreement with US-based EQRx Inc. (NASDAQ: EQRX) concerning the epidermal growth factor receptor (EGFR) inhibitor Ameile (almonertinib). As a result, the Chinese company will regain research and development (R&D), manufacturing, and commercialization rights to…
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Jumpcan Pharmaceutical Partners with Nanjing Zenshine for Exclusive Promotion Rights of ZX-7101A in China
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China-based Jumpcan Pharmaceutical (SHA: 600566) has announced a strategic partnership with fellow Chinese firm Nanjing Zenshine Pharmaceuticals Co., Ltd. The agreement grants Jumpcan exclusive promotion rights to Zenshine’s polymerase acidic (PA) inhibitor, ZX-7101A, for the agreed indication in China mainland. Financial Terms and Promotion RightsIn exchange for the exclusive promotion…
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Gilead Sciences Inc. Reports 5% YOY Revenue Increase in Q2 2023 Financials
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US-based pharmaceutical major Gilead Sciences Inc., (NASDAQ: GILD) has released its financial results for the second quarter of 2023, reporting a 5% year-on-year (YOY) increase in global revenues to USD 6.6 billion. Excluding sales of the COVID-19 drug Veklury (remdesivir), revenues were up 11% YOY to USD 6.3 billion. HIV…
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Amgen Inc. Reports 7% YOY Revenue Increase in Q2 2023 Financials
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US-based biotechnology company Amgen Inc., (NASDAQ: AMGN) has released its financial results for the second quarter of 2023, reporting a total revenue increase of 7% year-on-year (YOY) in constant exchange rate terms, reaching USD 7 billion. Double-Digit Growth from Key TherapiesAmgen’s double-digit growth was driven by a range of therapies,…
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GSK Files Patent Infringement Lawsuit Against Pfizer’s RSV Vaccine Abrysvo
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UK pharmaceutical giant GlaxoSmithKline (NYSE: GSK) has taken US-based Pfizer Inc., (NYSE: PFE) to court, alleging that Pfizer’s recently approved respiratory syncytial virus (RSV) vaccine, Abrysvo, infringes upon the patents of GSK’s own RSV vaccine, Arexvy. According to the docket filed with the US District Court of Delaware, Abrysvo is…
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Novartis AG and Ionis Pharmaceuticals Renew Collaboration on Lp(a)-Driven CVD Drug
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Swiss pharmaceutical giant Novartis AG (NYSE: NVS) has returned to US-based Ionis Pharmaceuticals Inc., (NASDAQ: IONS) for a collaboration and license agreement aimed at the discovery, development, and commercialization of a novel drug for patients with lipoprotein(a) (Lp(a))-driven cardiovascular disease (CVD). Building on a Successful PartnershipNovartis and Ionis previously formed…
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Grand Pharmaceutical Group Gets NMPA Approval for Generic Eplerenone for Hypertension
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China-based Grand Pharmaceutical Group Limited (HKG: 0512) has announced that it has received marketing approval from the National Medical Products Administration (NMPA) for its generic version of eplerenone, an aldosterone receptor antagonist. The drug, co-developed with Nanjing Cavendish Bioengineering Technology Co., Ltd., is indicated for the treatment of hypertension. Eplerenone:…
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Chia Tai Tianqing Secures Exclusive Rights to InventisBio’s D-1553 in China Licensing Deal
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China-based Chia Tai Tianqing has signed a licensing agreement with compatriot firm InventisBio, securing exclusive rights to develop, regulate, manufacture, and commercialize InventisBio’s D-1553 in mainland China. The agreement also provides Chia Tai Tianqing with potential ex-China territorial rights based on future data-sharing, although no financial details have been disclosed.…
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DaVinci Single Port System Launches in Hainan with Successful Surgeries
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The DaVinci Single Port robot-assisted surgical system technology has been successfully implemented in Boao, Hainan province, marking a significant milestone for minimally invasive surgery in the region. Physicians from Ruijin Hospital have successfully carried out two urology procedures and one nasopharyngeal surgery using the advanced system. First Real-World Study and…
