By Fineline Cube 
China-based Sino Biopharmaceutical Ltd (HKG: 1177) announced the acquisition of a 95.09% stake in Shanghai-based LaNova Medicines Ltd for USD 950.92 million. After deducting LaNova’s USD 450 million cash and equivalents, the net transaction value stands at USD 500.9 million. Sino Bio, which previously held 4.91% of LaNova, will gain full ownership post-transaction.
LaNova’s Technological Edge
LaNova Medicines boasts globally-leading antibody discovery and ADC technology platforms. These include the tumor microenvironment-specific antibody platform (LMTME), difficult-to-drug target antibody platform (LM-Abs), next-gen antibody-drug conjugate platform (LM-ADC), and immune cell engager platform (LM-TCE). The company’s innovative platforms position it at the forefront of cancer therapy development.
Pipeline and Licensing Success
LaNova’s pipeline has gained significant international recognition. In 2023, LM-305 (anti-GPRC5D ADC) was licensed to AstraZeneca for USD 600 million. More recently, in 2024, LM-299 (PD-1/VEGF bispecific) was licensed to Merck for over USD 3 billion. These achievements highlight LaNova’s strength in developing cutting-edge therapies.-Fineline Info & Tech