China Pharmaceutical BD Transaction Review – Deeply empowering pharmaceutical transactions to facilitate collaboration and jointly build a new ecosystem for BD communication. – Fineline Deals Book Nov. 2024
According to incomplete statistics from Fineline Info & Tech, there were a total of 35 pharmaceutical BD and M&A transactions in China in November 2024, including 3 cross-border asset acquisitions, 16 outbound transactions, and 16 domestic transactions.
Cross-border License In
Cullgen and Pulmatrix Merge to Form Nasdaq-Listed Protein Degradation Company
Cullgen Inc., a clinical-stage biopharmaceutical company with operations in China, the US, and Japan, is poised to merge with US-based Pulmatrix, Inc. (NASDAQ: PULM). The merger will result in a Nasdaq-listed entity focused on advancing targeted protein degradation technology, a promising field in drug development. [Full Artical]
Zhida Pharma Secures Licensing Deal for Vivesto AB’s Apealea in China
Zhejiang-based Zhida Pharma has announced a licensing deal with Sweden-headquartered Vivesto AB (STO: VIVE), securing all rights to Vivesto’s EU-registered Apealea (paclitaxel micellar) in China. This agreement expands Zhida Pharma’s portfolio and introduces a novel treatment option for patients in China. [Full Artical]
Shanghai Junshi Biosciences Enters Licensing Agreement for Dual-Targeted Fusion Proteins
Shanghai Junshi Biosciences Co., Ltd (HKG: 1877; SHA: 688180), a China-based biopharmaceutical company, has announced a licensing agreement with an undisclosed company due to commercial sensitivity and trade secret considerations. [Full Artical]
Cross-border License Out
Shanghai RMX Biopharma and PharmaEngine Ink Distribution Deal for Liporaxel in Taiwan
Chinese firms Shanghai RMX Biopharma Co. Ltd., a subsidiary of Haihe Biopharma Co., Ltd., and PharmaEngine Inc. have entered into a distribution agreement concerning Liporaxel (paclitaxel oral solution). The agreement grants PharmaEngine exclusive rights to handle the new drug application (NDA) filing, sales, and marketing of Liporaxel in the Taiwan market. Financial details of the deal remain undisclosed. [Full Artical]
At the 7th China International Import Expo (CIIE), Chinese firms Beijing Mabworks Biotech Co., Ltd, and KYinno Biotechnology Co., Ltd, have jointly announced a cooperation Memorandum of Understanding (MoU) with global pharmaceutical leader Pfizer (NYSE: PFE). The collaboration focuses on the clinical development of innovative treatment solutions for patients with multiple myeloma, marking Pfizer’s first partnership with domestic biotechs in mainland China since the implementation of its Ignite plan in the country.[Full Artical]
Nanjing Leads Biolabs and Aditum Bio Launch Oblenio Bio with Focus on CD19 Tri-Specific Antibody
China-based Nanjing Leads Biolabs Co., Ltd and venture capital firm Aditum Bio have announced the establishment of Oblenio Bio, along with an exclusive option and license agreement to develop LBL-051, a first-in-class CD19xBCMAxCD3 tri-specific T-cell engager antibody targeting autoimmune diseases. Aditum Bio will provide funding for Oblenio Bio, and together they will advance LBL-051 into clinical studies.[Full Artical]
Shanghai Henlius Biotech Partners with SVAX to Boost MENAT Region’s Access to Biological Drugs
Shanghai Henlius Biotech Inc. (HKG: 2696), a leading Chinese biotech company, has entered into a strategic partnership with AL-TIRYAQ AL-KHALAWI Medical Company (SVAX), a healthcare unit owned by the prominent Fakeeh family in Saudi Arabia, during the 2024 China International Import Expo (CIIE). This collaboration aims to leverage Henlius Bio’s expertise in biological drug R&D and production with SVAX’s local market access and commercialization strengths. [Full Artical]
CanSino Biologics Partners with Etana for Inhaled Tuberculosis Vaccine Development
China-based CanSino Biologics (SHA: 688185, HKG: 6185) has entered into a strategic partnership with Indonesia-based PT Etana Biotechnologies (Etana) to focus on the research and development of inhaled tuberculosis vaccines. The collaboration aims to leverage both companies’ expertise to advance novel vaccination methods against tuberculosis, although no financial details of the agreement have been disclosed. [Full Artical]
Biocytogen’s First-in-Class B7H3/PTK7 Bispecific ADC Option Exercised by IDEAYA Biosciences
Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (HKG: 2315), a China-based biopharmaceutical company, has announced that its US partner IDEAYA Biosciences Inc. (NASDAQ: IDYA) has exercised its option for an exclusive worldwide license for Biocytogen’s IDE034. This potential first-in-class B7H3/PTK7 topo-I-payload bispecific antibody drug conjugate (BsADC) represents a significant step forward in the treatment of solid tumors. [Full Artical]
Sunshine Lake Pharma Inks Licensing Deal with Apollo Therapeutics for APL-18881
China-based Sunshine Lake Pharma Co., Ltd., (HKG: 1558) a member of the HEC Group, has entered into a licensing agreement with UK-headquartered Apollo Therapeutics Group Limited for the development of APL-18881 (HEC88473). This strategic deal grants Apollo exclusive rights to develop and commercialize the drug outside of Greater China, while Sunshine Lake retains the rights within Greater China. [Full Artical]
BioNTech Acquires Biotheus for $800 Million, Enhancing Oncology Pipeline
BioNTech (NASDAQ: BNTX), the biotech giant recognized for its role in developing the COVID-19 vaccine, has acquired Biotheus for an upfront payment of $800 million, with additional milestone payments potentially reaching up to $150 million. Founded in 2018 and headquartered in Zhuhai, China, Biotheus has developed eight clinical-stage products and four preclinical candidates, focusing primarily on bispecific antibodies and cell and gene therapies (CGT). [Full Artical]
Merck Secures Exclusive Rights to LaNova’s PD-1/VEGF Bispecific Antibody LM-299
US pharmaceutical giant Merck, Sharp & Dohme Inc. (MSD; NYSE: MRK) has announced a significant licensing agreement with Shanghai-based LaNova Medicines Ltd, a developer of innovative cancer therapies. This deal grants Merck exclusive global rights to develop, manufacture, and commercialize LaNova’s LM-299, a novel PD-1/VEGF bispecific antibody (BsAb), marking a substantial step forward in the field of immuno-oncology. [Full Artical]
Analytical BioSciences Sells Global Rights to Pre-Clinical Anti-Tumor Drugs to Gilead
Sino-US firm Analytical BioSciences Limited has entered into an asset purchase agreement with Gilead (NASDAQ: GILD), granting the US firm global rights to Analytical’s multiple pre-clinical anti-tumor candidate drug assets. The financial details of the upfront and milestone payments remain undisclosed, and Gilead will also grant Analytical priority purchase rights to one of the assets for mainland China. [Full Artical]
Keymed Biosciences Enters Global Licensing Agreement with Platina Medicines for CM336
Keymed Biosciences Inc., a China-based biopharmaceutical company (HKG: 2162), has announced a significant licensing agreement with UK-based Platina Medicines Ltd (PML). The agreement grants Platina Medicines exclusive global development, manufacturing, and commercialization rights to Keymed’s CM336, excluding mainland China, Hong Kong, Macau, and Taiwan. [Full Artical]
Biosion Secures Licensing Deal with Aclaris Therapeutics for Global Rights to BSI-045B and BSI-502
Biosion, a clinical stage biotech company with operations in Delaware, US, and China, has entered into a licensing agreement with US based Acraris Therapeutics, Inc. (NASDAQ: ACRS). The deal grants Acraris exclusive global rights, excluding Greater China, to Biosion’s BSI-045B and BSI-502, further strengthening the two companies’ layout in the field of immunomodulatory therapy. [Full Artical]
VelaVigo and Avenzo Therapeutics Ink Global Partnership for Nectin4/TROP2 Bispecific ADC
Shanghai-based biotech company VelaVigo, specializing in bispecific/multi-specific antibodies and antibody drug conjugates (ADCs), has announced a global strategic partnership with US oncology firm Avenzo Therapeutics, Inc. This collaboration will facilitate the global development, manufacturing, and commercialization of VelaVigo’s Nectin4/TROP2 bispecific ADC, excluding Greater China, where VelaVigo retains the rights.[Full Artical]
China-based CStone Pharmaceuticals (HKG: 2616) has announced a strategic commercial collaboration with Pharmalink Store – L.L.C – O.P.C (Pharmalink), a prominent pharmaceutical company based in the United Arab Emirates (UAE), concerning its anti-PD-L1 monoclonal antibody (mAb) sugemalimab. [Full Artical]
Mabwell Bioscience Enters Licensing Agreement for Biosimilar Denosumab in Peru
China-based Mabwell (Shanghai) Bioscience Co., Ltd (SHA: 688062) has announced a licensing agreement with its partner in Peru, which will handle the marketing of Mabwell’s MAILISHU (9MW0311) and MAIWEIJIAN (9MW0321), biosimilars of denosumab in Peru. Mabwell will retain responsibility for the development, manufacturing, and commercial supply of these products. [Full Artical]
Adcendo ApS Secures Oversubscribed USD135 Million Series B Financing to Advance ADC Pipeline
Danish antibody drug conjugate (ADC) specialist, Adcendo ApS, has announced the completion of an oversubscribed Series B financing round, raising USD135 million. The proceeds from this round will be utilized to accelerate the development of its first-in-class ADC pipeline, which includes the ADCE-T02 (Tissue Factor ADC), ADCE-D01 (uPARAP ADC), ADCE-B05, and A0401 programs. [Full Artical]
Domestic Transactions in China
YiChang HEC ChangJiang Pharmaceutical and DP Technology Deepen Partnership with AI Focus
China-based YiChang HEC ChangJiang Pharmaceutical Co., Ltd (HKG: 1558) has announced a comprehensive partnership with compatriot firm DP Technology, with the aim of leveraging artificial intelligence (AI) to bolster the biopharmaceutical industry. This strategic collaboration is an extension of an existing partnership between the two companies, which saw the establishment of the AI4S joint laboratory in August this year. [Full Artical]
Reprogenix Secures Over RMB100 Million in Series A Financing Led by China Venture Capital
Hangzhou-based stem cell specialist Reprogenix has announced the successful completion of a Series A financing round, raising in excess of RMB100 million (USD14.04 million). The funding round was led by China Venture Capital, with participation from Betta Pharmaceuticals Co., Ltd (SHE: 300558) contributing RMB 20 million, Lenovo Capital and Incubator Group, and Lotus Lake Capital, among others. Ding Leming, the chairman and CEO of Betta Pharma, directly holds a 46.80% capital contribution in Reprogenix and is an executive director and the actual controller of the firm. Concurrently with the funding, Reprogenix and Betta Pharma have entered into a strategic partnership aimed at advancing the research into the induced differentiation of human pluripotent stem cells into pancreatic islet cells. [Full Artical]
GRIT Biotechnology and Vitalgen BioPharma Partner on CRISPR-AaCas12bMAX Cell Therapies
China-based cell therapy specialists GRIT Biotechnology and Shanghai Vitalgen BioPharma Co., Ltd have entered into a collaboration agreement to leverage GRIT’s CRISPR-AaCas12bMAX gene editing tool and related gene editing techniques for the development, manufacturing, and commercialization of certain cell therapies. The agreement, for which no financial details were disclosed, highlights the strategic integration of cutting-edge gene editing technology into the cell therapy space. [Full Artical]
Hangzhou Chance Pharmaceuticals Partners with Yiling Pharmaceutical for Inhalation Powder Development
China’s Hangzhou Chance Pharmaceuticals Co., Ltd., a specialist in lung drug delivery, has entered into a partnership with fellow Chinese firm Yiling Pharmaceutical Co., Ltd (SHE: 002603). The collaboration aims to leverage Hangzhou Chance’s experience and technology in the development of inhalation powder mist agents, thereby facilitating Yiling Pharma in the development of novel drug molecules. The financial details of this strategic alliance have not been disclosed. [Full Artical]
uBriGene Partners with XJTLU to Develop CAR-NK Cell Therapies for Solid Tumors
uBriGene, a China-based biotechnology company, has entered into a partnership with Xi’an Jiaotong-Liverpool University (XJTLU) Wisdom Lake Academy of Pharmacy to develop innovative chimeric antigen receptor natural killer (CAR-NK) cell therapies. The collaboration aims to advance the field of immunotherapy by creating two distinct types of CAR-NK cell treatments. [Full Artical]
China-based Jiangsu Recbio Technology Co., Ltd (HKG: 2179) has successfully placed 142 million shares through a private placement to compatriot firm Yangtze River Pharmaceutical (Group) Co., Ltd. This transaction positions Yangtze River Pharmaceutical as the largest shareholder of Jiangsu Recbio, marking a significant strategic investment in the biotechnology sector. [Full Artical]
Arctic Vision and Santen Ink Deal for ARVN001 Commercialization in China
China-based ophthalmology specialist, Arctic Vision, has entered into a strategic collaboration with Japan’s Santen Pharmaceutical (TYO: 4536) for the commercialization of ARVN001, an innovative triamcinolone acetonide suprachoroidal injectable suspension. This partnership marks a significant step in the expansion of ophthalmic treatments, with Santen securing exclusive commercialization rights in mainland China through a deal that includes an upfront payment and milestone payments totaling up to USD 85 million. [Full Artical]
Beijing Biostar Partners with Baheal for Utidelone Market Promotion in China
Beijing Biostar Technologies Ltd (HKG: 2563), a synthetic biology-driven anti-tumor drug specialist that made its debut in Hong Kong last month, has entered into a market promotion service agreement with Baheal Pharmaceutical Group (SHE: 301015), a leading health services and distribution company in China. This collaboration will see Baheal provide exclusive market promotion services for Biostar’s novel cancer therapy, utidelone, across all medical institutions and drug retailing enterprises in mainland China. [Full Artical]
NK CellTech Partners with 3SBio to Advance NK Cell Therapy Technology
China-based natural killer (NK) cell therapy developer NK CellTech has entered into a strategic partnership with 3SBio Inc. (HKG: 1530), a compatriot firm, to focus on advancing NK cell therapy technology. This collaboration aims to leverage the complementary technologies and resources of both companies, accelerating the research, development, and commercialization of NK cell therapies. [Full Artical]
BI Partners with Sinopharm for Promotion of Sifrol and Pradaxa in China
German pharmaceutical major Boehringer Ingelheim (BI) has entered into a partnership with China-based Sinopharm Group Co., Ltd (HKG: 1099), granting the latter the rights to promote Boehringer Ingelheim’s Sifrol (pramipexole) and Pradaxa (dabigatran) in China effective from January 1, 2025. Boehringer Ingelheim will retain ownership and manufacturing responsibilities for both drugs. Financial details of the agreement have not been disclosed. [Full Artical]
LaNova Medicines Inks Licensing Deal with Sino Biopharmaceutical for Cancer Therapies in China
Shanghai-based LaNova Medicines Ltd, a developer of cancer therapies, has announced another licensing deal, signing an agreement with compatriot firm Sino Biopharmaceutical Ltd (HKG: 1177) for the development and commercialization of LM-108 and other potential bispecific antibodies (BsAbs) and antibody drug conjugates (ADCs) in mainland China. The specifics of the partnership agreement have not been fully disclosed. This deal follows closely on the heels of a significant agreement with US pharmaceutical giant Merck, Sharp & Dohme Inc. (MSD; NYSE: MRK), which acquired LaNova’s PD-1/VEGF BsAb LM-299 in a deal valued at USD 3.3 billion late last week. [Full Artical]
Zai Lab Ltd Partners with Pfizer for Commercialization of Xacduro in China
China-based biotechnology company Zai Lab Ltd (NASDAQ: ZLAB; HKG: 9688) has announced a strategic collaboration agreement with global pharmaceutical giant Pfizer (NYSE: PFE). The partnership grants Pfizer’s affiliated companies the exclusive rights to commercialize Xacduro (durlobactam, sulbactam) in mainland China. This collaboration, set to be in effect through November 2028, is anticipated to expedite patient access to the drug by leveraging Pfizer’s industry-leading commercialization infrastructure within the anti-infective therapeutic space. Financial details of the agreement were not disclosed. [Full Artical]
E-nitiate Biopharmaceuticals Strikes Licensing Deal with Joincare for QY101 Inhaler Rights
China-based E-nitiate Biopharmaceuticals (Hangzhou) Co., Ltd, a joint venture between VivaVision Biotech and Betta Pharmaceuticals (SHE: 300558) focusing on autoimmune disease drug development, has entered into a licensing deal with compatriot firm Joincare Pharmaceutical Group Industry Co., Ltd (SHA: 600380). Under the agreement, Joincare will acquire development and commercialization rights for E-nitiate’s QY101 inhaler in China, while E-nitiate retains the rights to develop the product as a skin cream for external use. Financial details of the transaction were not disclosed. [Full Artical]
3SBio Inc. Secures Licensing Deal with Sunshine Lake Pharma for Clifutinib Commercialization
China-based 3SBio Inc. (HKG: 1530) has announced a licensing deal with fellow Chinese firm Sunshine Lake Pharma Co., Ltd., a member of HEC Group (SHA: 600673), concerning the commercialization of clifutinib in mainland China. Under the terms of the agreement, 3SBio will handle the commercialization efforts for the drug, paying Sunshine Lake Pharma an undisclosed sum in upfront and milestone payments related to research and development (R&D) and sales. [Full Artical]
Pfizer Partners with CR Pharma to Expand Cancer Drug Access in China
US pharmaceutical giant Pfizer Inc. (NYSE: PFE) has entered into a strategic agreement with China Resources Pharmaceutical Group Co., Ltd (HKG: 3320) to leverage their respective strengths in promoting the commercial operations of Pfizer’s established oncology drugs in China. The focus will be on drugs Aromasin (exemestane), Ibrance (palbociclib), Pharmorubicin (epirubicin), and Xalkori (crizotinib), which target lung cancer and breast cancer. [Full Artical]
TenNor Therapeutics Partners with Grand Life Sciences for Rifasutenizol Commercialization in China
China-based TenNor Therapeutics has entered into an exclusive commercialization cooperation agreement with compatriot firm Grand Life Sciences, appointing the latter as the sole commercial promotion service provider in mainland China, Hong Kong, and Macau for TenNor’s rifasutenizol (TNP-2198), a treatment for Helicobacter pylori (H. pylori) infection. [Full Artical]
Monthly Roundup
According to the partial statistics from Fineline Info & Tech, by November 2024, China’s biopharmaceutical sector has achieved remarkable success in the transaction domain, completing a total of 204 deals. These transactions include 31 cross-border introductions, 98 cross-border exports, and 75 domestic transactions within China. In November alone, the industry was particularly vibrant, with 35 deals concluded, consisting of 3 cross-border introductions, 16 cross-border exports, and 16 domestic transactions. The business development (BD) transactions in China’s pharmaceutical sector this month are characterized by the following notable features:
- In terms of cross-border introductions, 3 deals were successfully completed, with Cullgen and Pulmatrix achieving a Nasdaq listing through a strategic merger. This move not only solidified their market positions but also laid a strong foundation for future growth.
- Regarding cross-border exports, 16 deals were closed this month, involving several renowned pharmaceutical companies, including MSD, Gilead, Pfizer, and BioNTech. Additionally, Leads Biolabs and Keymed Biosciences, under the NowCo model, also finalized transactions. Cooperation in the Middle East was also active, with Henlius and CStone reaching partnership agreements. Pumis Bio was acquired by BioNTech for $800 million, and LaNova Medicines’ PD-1/VEGF bispecific antibody received an initial payment of $588 million from MSD, highlighting the strong competitiveness of Chinese innovative drugs in the global market and indicating a continued surge in the export of Chinese pharmaceuticals.
- Domestic transactions continue to show a trend of strong alliances. Out of 16 deals, 9 involved products in the mid-to-late stages of the market. Foreign pharmaceutical companies such as Pfizer, Zai Lab, Santen, and Arctic Vision have collaborated with Chinese enterprises on products in the mid-to-late stages. Furthermore, three public company collaborations involved equity investments, including Sino Biopharmaceutical with LaNova Medicines, Yangtze River Pharmaceutical with Recbio Technology, and Betta Pharma with Ruipu Chenchuang. These partnerships not only reflect the competitiveness of Chinese pharmaceutical companies in the global market but also demonstrate the rapid layout of Chinese listed companies in the cooperation of innovative drug products. In terms of initial payment amounts for transactions (excluding investments), HEC Sunshine Lake Pharma announced receiving an initial payment of $12 million, while the initial payment amounts for other transactions have not been disclosed.-Fineline Info & Tech