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Kunshan Yiyuan Medical Technology Secures Over RMB 100 Million in Series B Financing
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Kunshan Yiyuan Medical Technology Co., Ltd (Medical Source), a company in China that specializes in the development of disruptive CT tubes, has reportedly raised over RMB 100 million in a Series B financing round. The round was led by Everest Venture Capital, with participation from Gaotou Venture Capital and Riverhead…
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HuidaGene Strikes Licensing Deal with Kactus Biosystems for Gene Editing Enzyme hfCas12Max
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China-based HuidaGene (Shanghai) Biotechnology Co., Ltd has announced a licensing agreement with fellow Shanghai-based firm Kactus Biosystems, a company specializing in target protein and raw enzyme production. The agreement pertains to the new gene editing tool enzyme, hfCas12Max. According to the terms, Kactus will secure an exclusive license to produce…
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Novartis China’s Business Growth Lead Zhu Jiakang Departs for Personal Reasons
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Swiss pharmaceutical giant Novartis (NYSE: NVS) has seen the departure of Zhu Jiakang, who led the company’s innovative medicine China business growth project. Zhu has left the role due to “personal reasons,” according to official statements. Before joining Novartis in July 2022, Zhu held a significant position at AstraZeneca (AZ,…
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BeiGene’s Q2 2023 Financial Report Highlights 81.8% YOY Product Revenue Growth
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China-based biotech company BeiGene (SHA: 688235, HKG: 6160, NASDAQ: BGNE) has released its financial report for the second quarter of 2023, demonstrating strong year-on-year (YOY) growth of 81.8% in product revenues, reaching USD 553.7 million. Sales in China contributed USD 233.9 million, while the US market generated USD 223.5 million.…
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Our United Corporation’s Linear Accelerator Approved as Innovative Medical Device by NMPA
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Xi’an-based Our United Corporation has announced that its medical electronic linear accelerator has been approved by the National Medical Products Administration (NMPA) as an innovative medical device. This marks a significant milestone for the company and the field of radiation therapy in China. Comprehensive Features of the Linear AcceleratorThe product,…
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CORXEL Gets CDE Approval for Phase III Presbyopia Trials of LNZ100 and LNZ101
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Shanghai-based CORXEL, formerly known as Ji Xing Pharmaceuticals, supported by RTW Investments, has announced that it has received approval from the Center for Drug Evaluation (CDE) to conduct Phase III clinical trials for its LNZ100 (aceclidine) and LNZ101 (aceclidine/brimonidine) in presbyopia. Exclusive Rights and Licensing Deal with LENZ TherapeuticsJi Xing…
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Lee’s Pharmaceutical Subsidiary Zhaoke Ophthalmology Partners with Eyebright Medical Technology
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China-based Lee’s Pharmaceutical Holdings Ltd (HKG: 0950) subsidiary, Zhaoke Ophthalmology Ltd (HKG: 6622), has entered into a partnership with Beijing-headquartered ophthalmic device manufacturer, Eyebright Medical Technology Co., Ltd (SHA: 688050). The collaboration aims to enhance the development and commercialization of ophthalmic drugs and medical devices. Comprehensive Collaboration in OphthalmologyUnder the…
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BeiGene and Bristol-Myers Squibb/Celgene Settle Partnership, Termination Set for 2023
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BeiGene (NASDAQ: BGNE) has announced a settlement and termination agreement with US firm Bristol-Myers Squibb/Celgene (BMS, NYSE: BMY), formally ending their previous partnership on December 31, 2023. As part of the agreement, both parties have agreed to withdraw arbitral proceedings. Bristol-Myers Squibb/Celgene will transfer 23,273,108 ordinary shares of BeiGene back…
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Suzhou Jiecheng Medical Secures FDA BDD for Transvascular Aortic Valve Treatment
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Suzhou Jiecheng Medical Technology Co., Ltd has announced that it has obtained Breakthrough Devices Designation (BDD) from the US Food and Drug Administration (FDA) for its proprietary transvascular interventional biological aortic valve. The device is designed for the treatment of severe aortic valve regurgitation (insufficiency) and mixed aortic valve disease…
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ABM Therapeutics’ ABM-1310 Earns Orphan Drug Designation for BRAF V600 Mutant Glioblastoma
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Shanghai-based ABM Therapeutics Inc. has announced that it has received Orphan Drug Designation (ODD) from the US Food and Drug Administration (FDA) for its small molecule BRAF inhibitor, ABM-1310. This designation is in relation to the molecule’s potential use in treating BRAF V600 mutant glioblastoma (GBM), a rare and aggressive…
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Huaboron Neutron Technology Secures Over RMB 100 Million in Angel Financing for BNCT System
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Huaboron Neutron Technology (Hangzhou) Co., Ltd (HBNCT) has reportedly secured more than RMB 100 million (USD 13.9 million) in an angel financing round. The round saw participation from notable investors such as Kaitai Capital, Noah Capital, CAS Star, and Kunlun Capital. The funds raised will be directed towards clinical studies…
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ICE Bioscience Secures Series B+ Financing to Boost Integration Capabilities
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Beijing-based Contract Research Organization (CRO) ICE Bioscience has reportedly raised close to RMB 100 million (USD 14 million) in a Series B+ financing round. The round was led by Alwin Capital, with additional investments from EVEREST, CICC Capital, Addor Capital, and Root Venture Partners. The funds raised will be directed…
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Sumitomo Pharma and Otsuka’s Ulotaront Fails to Meet Primary Endpoint in Schizophrenia Trials
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Japan-based Sumitomo Pharma Co., Ltd (TYO: 4506) and Otsuka Pharmaceutical Co., Ltd (FRA: OS1) have revealed a setback in late-stage clinical trials for the potential first-in-class trace amine-associated receptor 1 (TAAR1) agonist, ulotaront, as a treatment for schizophrenia. Topline data from the Phase III DIAMOND 1 and DIAMOND 2 studies…
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Siemens Healthineers Reports 3.6% YOY Revenue Growth in Q3 2023 Financials
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Germany-based life sciences giant Siemens Healthineers AG (ETR: SHL) has released its financial results for the third quarter of its 2023 fiscal year, which ended on June 30. The company reported global revenues of EUR 5.2 billion (USD 5.6 billion), marking a 3.6% year-on-year (YOY) growth in constant exchange rate…
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Biogen Inc. to Acquire Reata Pharmaceuticals in $7.3 Billion Deal
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US-based Biogen Inc., (NASDAQ: BIIB) has announced that it has reached an agreement to fully acquire compatriot firm Reata Pharmaceuticals Inc., (NASDAQ: RETA) in a cash deal valued at USD 172.50 per share, totaling USD 7.3 billion. The acquisition is anticipated to be completed in the fourth quarter of 2023.…
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Pfizer Inc. Reports Q2 2023 Revenues, Signals Shift Beyond COVID-19 Products
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US pharmaceutical giant Pfizer Inc., (NYSE: PFE) has released its financial results for the second quarter of 2023, reporting revenues of USD 12.7 billion over the three months, marking a year-on-year (YOY) decrease of 53%. The decline is attributed to the loss of sales from Paxlovid (nirmatrelvir, ritonavir) and Comirnaty…
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EQRx Inc. to be Acquired by Revolution Medicines in All-Stock Transaction
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US-based EQRx Inc. (NASDAQ: EQRX) has revealed that a definitive agreement has been signed for the company to be fully acquired by US-based Revolution Medicines (NASDAQ: RVMD). The transaction will be executed as an all-stock deal, with Revolution issuing shares to EQRx shareholders, anticipating the acquisition of over USD 1…
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GSK Partners with Zuellig Pharma for Vaccine Distribution and Cold-Chain Management in Asia-Pacific
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GlaxoSmithKline (GSK; NYSE: GSK), a leading global vaccine manufacturer, has signed an agreement with Philippines-based Zuellig Pharma to provide warehousing and distribution services, with a focus on cold-chain management for GSK’s vaccines in Singapore. This strategic partnership will establish a vaccine distribution hub serving 13 markets across the Asia-Pacific region.…
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Luye Pharma’s Parkinson’s Disease Treatment LY03003 Receives NMPA Review Acceptance
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Luye Pharma Group (HKG: 2186) has announced that the National Medical Products Administration (NMPA) has accepted a market filing for its once-weekly rotigotine extended-release microspheres for injection (LY03003), indicated for the treatment of Parkinson’s disease (PD), with a priority review status. LY03003: A Breakthrough in Dopamine StimulationHailed as the world’s…
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Mabwell Bioscience Secures Licensing Deals for Denosumab Biosimilars in Egypt and Pakistan
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China-based Mabwell (Shanghai) Bioscience Co., Ltd (SHA: 688062) has announced separate licensing and commercialization agreements with a strategic business partner in Egypt and Pakistan pharmaceutical company Searle Co Ltd. These agreements grant local rights to Mabwell’s denosumab biosimilars, MAILISHU and 9MW0321. Denosumab Biosimilars and Their Impact on Fracture Risk ReductionDenosumab,…
