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HKUST and PhIRDA Sign MoU to Establish Innovation Centers
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The Hong Kong University of Science and Technology (HKUST) and the China Pharmaceutical Innovation and Research Development Association (PhIRDA) have signed a Memorandum of Understanding (MoU) aimed at establishing two innovation and research centers. This strategic partnership seeks to leverage HKUST’s strengths in basic research and PhIRDA’s members’ capabilities in…
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ClinChoice Acquires Cromsource to Expand Global CRO Footprint
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Sino-US Contract Research Organization (CRO) ClinChoice Medical Development has announced the acquisition of Cromsource S.r.l., a CRO operating out of Verona, Italy, and North Carolina in the US. Cromsource, founded in 1997, is a full-service, ISO-certified service provider that supports biotechs, pharmas, and medical device companies. Financial details of the…
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Atom Bioscience’s ABP-671 Shows Positive Phase IIa Results in Gout Treatment
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China-based Atom Bioscience (Jiangsu Atom Bioscience and Pharmaceutical Co., Ltd) has announced positive results from a Phase IIa clinical study for its lead product, ABP-671. The randomized, double-blind, placebo-controlled trial enrolled 54 patients with gout or hyperuricemia across six cohorts, with 7 randomized to ABP-671 and 2 to placebo per…
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Echo Biotech Secures Series A++ Funding for Exosomes Drug Development
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Echo Biotech, a Beijing-based exosomes drug developer, has reportedly raised “tens of millions” of renminbi in a Series A++ financing round. The round was led by ZBJL Capital and Yanrui Asset Management, with participation from existing investor Baidu Venture. The proceeds will be directed towards the iteration of Echo Biotech’s…
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AffaMed Technologies Completes First Patient Implantation for MINI WELL IOL
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AffaMed Technologies, a joint venture between AffaMed Therapeutics and SIFI S.p.A., has announced the completion of the first patient implantation in the regulatory clinical trial for its MINI WELL progressive Extended Depth-of-Focus (EDOF) intraocular lens (IOL). The procedure was successfully conducted at the EYE & ENT Hospital of Fudan University…
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CSPC Pharmaceutical Initiates Phase III Study for Mitoxantrone Liposome in Nasopharyngeal Carcinoma
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China-based CSPC Pharmaceutical Group Ltd (HKG: 1093) has announced the first patient dosing in a randomized, open, positive controlled, multi-center Phase III study. The study is designed to assess the efficacy and safety of its mitoxantrone hydrochloride liposome in patients with recurrent and metastatic nasopharyngeal carcinoma (NPC) when combined with…
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TinKer Bio Raises Series A+ Funding for Microfluidic Chip Expansion
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China-based Hangzhou TinKer BioTechnology Co., Ltd, a leading microfluidic chip technology platform company, has reportedly raised “tens of millions” of renminbi in a Series A+ financing round. The funds will be directed towards manufacturing plant construction, CDMO business expansion, new technology and process research and development, and manufacturing capacity expansion.…
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OcuMension Therapeutics Initiates Phase II Study for Dry Eye Treatment OT-202
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Chinese ophthalmology specialist OcuMension Therapeutics (HKG: 1477) has announced the initiation of a randomized, double-blind, placebo-controlled Phase II clinical study. The study is designed to assess the safety and efficacy of its Category 1 drug OT-202, a tyrosine kinase inhibitor (TKI) intended for the treatment of dry eyes. This marks…
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Hexin Medical Technology Raises Series A Funding for Radionuclide Therapy
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Hexin Medical Technology Co., Ltd, a radionuclide therapy developer based in Suzhou, has reportedly raised over RMB 100 million (USD 14.5 million) in a Series A financing round. The round was led by Cowin Capital and Sunland Fund, with participation from Yishang Huicheng (Beijing) Investment. The proceeds will be used…
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Shanghai Pharmaceuticals Partners with Baiyun District for Health Initiative
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China-based Shanghai Pharmaceuticals Holding Co., Ltd (SHA: 601607) has entered into a strategic cooperation agreement with Guangzhou’s Baiyun district. This public-private partnership is designed to bolster “Health Baiyun” through collaboration on functional cosmetics, general health, pharmaceutical commerce, and other fields. The initiative aims to enhance the healthcare industry in the…
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TandemAI Secures $35M Series A to Expand Drug Discovery Platform
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TandemAI, a technology firm with operations in New York, San Diego, and China, has successfully completed a USD 35 million Series A finance round. The funds raised will be utilized to expand the company’s drug discovery service platform, enhancing its capabilities in the biotech sector. This strategic financing round attracted…
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Merck Reports 12.9% Sales Growth in 2022 Annual Report
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German major Merck (NYSE: MRK) released its 2022 annual report this week, showing a robust expansion in global net sales. The company reported a 12.9% year-on-year (YOY) increase to EUR 22.2 billion (USD 23.6 billion), driven by growth across all business sectors. This performance underscores Merck’s continued strength in the…
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Kinnjiu Biopharma Initiates Global Phase I Study for Exarafenib
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Shanghai-based Kinnjiu Biopharma Inc. has announced the first subject dosing in the global multi-center Phase I study ‘KN-8701’, focusing on its Category 1 drug exarafenib (KIN-2787) in the Chinese mainland. This milestone comes shortly after Kinnate Biopharma Inc. (Nasdaq: KNTE) acquired an ownership stake in Kinnjiu Bio, previously held by…
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Zai Lab Reports 2022 Financial Results with Revenue Growth
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China-based Zai Lab Limited (NASDAQ: ZLAB, HKG: 9688) has announced its full-year 2022 financial results, along with recent product highlights and corporate updates. The company reported total revenues of USD 215 million for 2022, marking an increase of 49% compared to 2021. This included total revenues of USD 62.6 million…
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Pengyang Yiliao Raises Series B+ Funds for Cardiovascular Product Development
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Pengyang Yiliao, a Beijing-based developer and manufacturer of cardiovascular technology, has reportedly raised “tens of millions” of renminbi in a Series B+ financing round. The investors included Suzhou Wuzhong Economic and Technological Innovation Investment Partnership Limited and Suzhou Wuzhong Jingkai Intelligent Manufacturing Investment Partnership Limited. The proceeds will be used…
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Zhejiang Medicine’s ARX788 Shows Positive Results in Breast Cancer Study
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China-based Zhejiang Medicine Co., Ltd (SHA: 600216) has announced positive results from a Phase II/III clinical study for its sARX788, an anti-HER2 monoclonal antibody-AS269 conjugate, in the treatment of breast cancer. The study, which assessed the drug’s efficacy and safety in HER2-positive local advanced or metastatic breast cancer, reached its…
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Glowe Raises Series A+ Funding to Expand AIGC in Mental Health
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Glowe, an online psychological consultation platform based in Guangdong, has reportedly raised “tens of millions” of renminbi in a Series A+ financing round. The round was led by FreesFund, with proceeds intended to ramp up the application of Artificial Intelligence Generated Content (AIGC) in the platform’s services. Glowe: Platform Overview…
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Geneus Tech Secures Funding for Gseq500 Gene Sequencer Production
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Geneus Tech, a Shenzhen-based developer and manufacturer of gene sequencers, has reportedly raised an undisclosed amount of money in a Series B+ financing round. The round was led by GF Xinde Investment and a private equity fund initiated by Zhejiang Dian Diagnostics Co., Ltd (SHE: 300244). The proceeds will be…
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Alphamab Oncology Partners with Stemirna for BsAb and mRNA Vaccine Development
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China-based Alphamab Oncology (HKG: 9966) has announced a strategic partnership with Shanghai-based mRNA drug developer Stemirna Therapeutics Co., Ltd. The collaboration focuses on the clinical development of bispecific antibodies (BsAbs) and mRNA vaccines, with an initial focus on the combination of KN052 and SWP1001. No financial details of the partnership…
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CanSino Biologics’ Inhalable COVID-19 Vaccine Gets EUA in Indonesia
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China-based CanSino Biologics (SHA: 688185, HKG: 6185) has announced that it has received emergency use authorization (EUA) for its inhalable recombinant novel coronavirus vaccine (adenovirus type 5 vector) in Indonesia. This marks a significant milestone in the global fight against COVID-19, as the company expands its vaccine’s availability to another…
