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Novartis Q3 Revenues Rise 4% YOY; China Sales Expand Despite COVID Lockdowns
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Swiss pharmaceutical giant Novartis (NYSE: NVS) has reported a 4% year-on-year (YOY) increase in global revenues for the third quarter of 2022, reaching USD 12.54 billion in constant currency terms. However, in dollar terms, sales were down 4% YOY. The growth was driven by both the Innovative Medicines (IM) and…
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ImmVira Secures Series C+ Financing to Advance Oncolytic Virus and Exosome Programs
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China-based biotech ImmVira has successfully secured its Series C+ financing, entering into agreements with a first batch of investors, including China Merchants China Direct Investments Ltd, Wuzhong Biomedical Industry Development Fund, and Qiandao Fund. The proceeds will be used to advance clinical studies of three product pipelines in the US…
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Ascentage Pharma Files for Phase Ib/II Study of Bcl-2 Inhibitor in Systemic Lupus Erythematosus
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Suzhou-based Ascentage Pharma (HKG: 6855) has announced the submission of a clinical filing with the Center for Drug Evaluation (CDE) to initiate a randomized, double-blind, placebo-controlled Phase Ib/II clinical study. The study will assess the safety, pharmacokinetics, pharmacodynamics, and preliminary clinical efficacy of its Bcl-2 inhibitor, lisaftoclax (APG-2575), in patients…
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Shanghai Henlius’ PD-1 Inhibitor Serplulimab Gains Australian Clearance for Phase III Study
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Shanghai Henlius Pharmaceutical Co., Ltd (HKG: 2696) has announced receiving regulatory clearance in Australia to conduct a Phase III clinical study evaluating the efficacy and safety of its programmed death-1 (PD-1) inhibitor, Serplulimab (HaiSiZhuang). The study will assess the drug in combination with chemotherapy (carboplatin/cisplatin-etoposide) in patients with limited stage…
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ArieMedi Secures Series A+ Financing to Expand Precision Navigation Solutions
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ArieMedi Medical Science, a leading precision navigation solutions provider based in Beijing, has announced the completion of its Series A+ financing round, raising “hundreds of millions” of renminbi. The funding was backed by Hairui Investment and Haier Capital. The proceeds will be allocated toward scientific research collaboration, clinical studies, technology…
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ClinBrain Raises RMB 200 Million in Series C Financing to Boost Medical Big Data
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Shanghai-based ClinBrain, a leading clinical data repository (CDR) and medical big data services provider, has reportedly secured RMB 200 million (USD 27.5 million) in a Series C financing round. The round was led by Legend Capital, with participation from the Shanghai Prosperity Fund. The company plans to use the funds…
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Covis Pharma’s COPD Therapies Show Positive Results in Phase III AVANT Trial
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Luxembourg-based Covis Pharma Group has released positive topline data from its Phase III AVANT trial, which assessed the efficacy of two chronic obstructive pulmonary disorder (COPD) therapies, Duaklir (aclidinium bromide 400µg/formoterol 12µg twice-daily) and Eklira/Tudorza (aclidinium bromide 400µg twice-daily), compared to placebo. The trial, which recruited 70% of patients from…
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Huadong Medicine Reports 10.4% Revenue Growth in Q3 2022
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Huadong Medicine Co., Ltd (SHE: 000963) has published its Q3 2022 financial report, revealing robust growth. The Chinese firm generated RMB 9.66 billion (USD 1.3 billion) in revenues during the period, marking a 10.4% year-on-year (YOY) increase. Net profits for the quarter were RMB 630 million (USD 86.7 million), up…
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CSPC Receives CDE Approval for Generic Version of Pfizer’s Xeljanz
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China-based CSPC Pharmaceutical Group Co., Ltd (HKG: 1093) has announced that it has received market approval from the Center for Drug Evaluation (CDE) for its generic version of Pfizer’s Xeljanz (tofacitinib). This marks the second sustained-release tablet version of the drug (in 11mg dosage) to pass China’s generic quality consistency…
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Giant Biogene Set for IPO on Hong Kong Stock Exchange to Raise Funds for Expansion
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China-based medical aesthetics company Giant Biogene Holding Co., Ltd (HKG: 2367) has announced plans to conduct an initial public offering (IPO) of 22.61 million shares on the Hong Kong Stock Exchange. The offering price is set to range from HKD 24.3 (USD 3.10) to HKD 27.7 (USD 3.53) per share.…
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BIMI International Medical to Sell Off Underperforming Subsidiary Chongqing Zhuoda
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China-based BIMI International Medical Inc. (OTCMKTS: BIMI), a wholesaler of drugs and healthcare products, has announced plans to sell its wholly-owned distribution subsidiary, Chongqing Zhuoda Pharmaceutical Co., Ltd. The 100% equity stake in Zhuoda will be sold to three individuals in China who had previously sold the company to BIMI.…
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Shandong Branden Medical Devices Files for IPO on STAR Board to Raise RMB 760M
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China-based Shandong Branden Medical Devices Co., Ltd has filed for an initial public offering (IPO) of 20.52 million shares on the Shanghai Stock Exchange’s Sci-Tech Innovation Board (STAR). The listing is expected to raise approximately RMB 760 million (USD 104 million) for the company. The funds will be used to…
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Gan & Lee Pharmaceuticals Plans RMB 814M Private Placement for Working Capital
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China-based Gan & Lee Pharmaceuticals (SHA: 603087) has announced plans to raise up to RMB 814 million (USD 111.4 million) through a private placement. The funds raised will be used as supplementary working capital to support the company’s operations and strategic initiatives. Shareholding Structure and Company ValuationMr. Gan Zhongru, the…
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Rongsheng Bio Set for IPO on STAR Board to Boost Vaccine R&D
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Shanghai Rongsheng Biotech Co., Ltd is preparing to conduct an initial public offering (IPO) of 25.5 million shares on the Shanghai Stock Exchange’s Sci-Tech Innovation Board (STAR). The transaction is expected to raise approximately RMB 1.25 billion (USD 171 million). The funds will be allocated toward the research and development…
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Daiichi Sankyo Initiates Global Phase II Study of DS7300 for Small-Cell Lung Cancer
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Japan-based Daiichi Sankyo Inc. (TYO: 4568) has announced the first patient dosing in a global pivotal Phase II clinical study (S7300-127) assessing the efficacy and safety of its DS7300 (DS7300a), a potential first-in-class antibody drug conjugate (ADC), in patients with extensive small-cell lung cancer (SCLC) in China. DS7300 is an…
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Abbisko’s ABSK021 Gets CDE Approval for Phase III Study in Giant Cell Tumor of Tendon Sheath
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Shanghai-based biotech Abbisko Therapeutics Co., Ltd (HKG: 2256) has announced that it has received approval from the Center for Drug Evaluation (CDE) to conduct a Phase III clinical study for its Category 1 drug, ABSK021. The randomized, double-blind, placebo-controlled, multi-center Phase III study is designed to assess the efficacy and…
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Livzon Launches National Rollout of COVID-19 Vaccine V-01 in China
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China-based Livzon Pharmaceutical Group (HKG: 1513) has announced the national promotion of its recombinant novel coronavirus fusion protein vaccine, V-01. The vaccine was first administered as a sequential booster shot in Guangdong on September 21. V-01 is being co-developed by Livzon subsidiary Zhuhai Livzon Monoclonal Antibodies Biotechnology Co., Ltd and…
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Venmedtech Raises Series B+ Funding for Iliac Vein Stent and Product R&D
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Venmedtech, a Suzhou-based one-stop intravenous therapy product platform, has reportedly raised “tens of millions” of renminbi in a Series B+ financing round. The funding was contributed by Qiao Jing Capital and Zhuopu Venture Capital. Proceeds from the financing will be directed towards market promotion of the company’s Iliac vein stent…
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Celgenyx Completes RMB 100M Series A Financing for Next-Gen Cell Therapy Development
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China-based Hangzhou Celgenyx Gene Technology Co., Ltd has announced the completion of a Series A financing round, raising RMB 100 million (USD 13.68 million). The round was led by Vivo Capital. The proceeds will be directed toward the research and development of Celgenyx’s next-generation off-the-shelf cell therapy. Current Landscape of…
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Easy-Flow Medical Secures Angel Funding for Peripheral Device Development
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China-based peripheral interventional device manufacturer Shanghai Easy-Flow Medical Tech Co., Ltd has reportedly raised “tens of millions” of renminbi in an angel financing round. The funding was led by Legend Capital, with participation from Shanghai Xinyue Jiupeng Enterprise Consulting Center. The proceeds will be allocated toward the research and development…
