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Innovent Biologics Halts Subscription Agreement with Lostrancos Ventures
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China-based Innovent Biologics, Inc. (HKG: 1801) has announced the decision not to proceed with a subscription agreement between its wholly owned subsidiary, Fortvita, and Lostrancos Ventures Ltd. The agreement would have seen Lostrancos acquire a 20% stake in Fortvita for USD 20.5 million. Despite this setback, Innovent Biologics reaffirmed its…
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Innovent’s Fortvita Stake Sale Sparks Controversy, Shares Plummet Nearly 13%
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Innovent Biologics, Inc. (HKG: 1801), headquartered in China, has announced a subscription agreement in which its wholly owned subsidiary Fortvita will sell a 20% stake to Lostrancos Ventures Ltd. for USD 20.5 million. This news has sparked market controversy, with some investors criticizing the valuation of Fortvita as being too…
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TheDerma’s Series A+ Round to Fund R&D and Commercialization of AhR Targeted Drugs
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TheDerma, a Shanghai-based pharmaceutical company, has announced the completion of a nearly CNY 100 million Series A+ financing round. The round was led by Qingdao Guoxin, with existing shareholders Baino Capital, Han Kang Capital, and Beta Fund continuing to add investments. Kaicheng Capital once again served as the exclusive financial…
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Beijing Biostar Technologies Goes Public in Hong Kong to Fund Cancer Drug Development
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Beijing Biostar Technologies Ltd (HKG: 2563), a leading synthetic biology-driven anti-tumor drug specialist based in China, has successfully completed an initial public offering (IPO) on the Hong Kong Stock Exchange. The company issued 14,588,000 shares at a price of HKD 22 each, raising a total of HKD 320 million (USD…
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Macrolux Raises Over RMB 100 Million in Series B Financing
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Macrolux, a leading medical technology company specializing in disposable endoscopes, has announced the completion of a Series B financing round exceeding RMB 100 million (over USD 14.75 million). The round was led by BioVenture VC, with continued support from existing investors Legend Capital and DALTON VENTURE, and HAOYUE CAPITAL serving…
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Otsuka Holdings Weighs Sale of Stake in Medical Device Maker MicroPort Scientific
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Otsuka Holdings Co., a Japanese pharmaceutical and healthcare company, is reportedly considering the sale of its shares in Shanghai-based medical device giant MicroPort Scientific Corp. (HKG: 0853), according to a Bloomberg report. The company is said to be working with financial advisors to assess its minority stake in MicroPort after…
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Stem-Cell Startup Xellsmart Secures Over RMB 100 Million in Series B1 Financing for Neurological Therapies
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Xellsmart, a stem-cell startup headquartered in Suzhou, has reportedly secured over RMB 100 million (USD 14.08 million) in a Series B1 financing round. The round was led by Tialong/Taikun Equity Investment Fund, with additional investments from Septwolves Venture Capital and Sky World Capital, alongside returning investors Frees Fund, Qiming Venture…
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Beijing Biostar Pharmaceuticals Set to Go Public on HKEX with Focus on Oncology Innovation
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On October 18, 2024, the Hong Kong Stock Exchange announced that Beijing Biostar Pharmaceuticals Co., Ltd. is set to go public following a successful hearing. CCB International and CITIC Securities International will serve as joint sponsors for the listing. According to the prospectus, Biostar is a biotechnology company driven by…
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LaNova Medicines Secures RMB 300 Million in Series C1 Financing to Advance Cancer Therapy Pipeline
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LaNova Medicines Ltd, a Shanghai-based developer of cancer therapies, has announced the successful completion of a Series C1 financing round, raising RMB 300 million (USD 42.1 million). The funding round was led by Sino Biopharmaceutical Ltd (HKG: 1177), with significant contributions from Shanghai Pudong Venture Capital, Zhangjiang Haoheng Innovative Equity…
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TenNor Therapeutics Secures USD 42.16 Million in Series E Financing for Antibacterial Pipeline
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TenNor Therapeutics, a clinical-stage pharmaceutical company based in China, has announced the successful completion of its Series E financing round, raising RMB 300 million (USD 42.16 million). The financing was co-led by Zhongshan Venture Capital and the AMR Action Fund. The funds raised will be directed towards the late-stage clinical…
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iRegene Therapeutics Secures Over USD 14 Million in Series B Financing to Advance Cell Therapies
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iRegene Therapeutics, a Wuhan-based biotechnology company specializing in the development of AI-enhanced chemically induced cell therapies, has announced the successful completion of its Series B financing round, raising over RMB 100 million (USD 14.15 million). The financing was co-led by Orinno Capital, with additional investments from Optics Valley Industrial Investment…
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Akeso Biopharma Secures USD 250 Million in Share Placement, Bolstering Drug Development War chest
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Akeso Biopharma (HKG: 9926), a biopharmaceutical company based in China, has declared the successful completion of a share placement that has raised USD 250 million. This capital raise has garnered significant attention from international investment firms, with a majority of the final subscribers being long-term and healthcare funds. With this…
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Beijing Aosaikang Pharmaceuticals Boosts Stake in US Subsidiary AskGene with RMB 220 Million Investment
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Beijing Aosaikang Pharmaceutical Co., Ltd (SHE: 002755) has announced a capital injection of RMB 220 million (USD 31 million) into its US-based subsidiary, AskGene Limited, established in 2012. This investment increases the Chinese firm’s shareholding in AskGene from 59.07% to 62.86%, solidifying its position as the controlling shareholder. Concurrently, TF…
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Kailera Therapeutics Emerges with USD 400 Million in Series A Funding for Anti-Obesity Pipeline
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Kailera Therapeutics, a newly launched US-based biotechnology company, secured USD 400 million in Series A financing last week. Previously operating as Hercules CM Newco Inc., the company was established by a consortium of investors including Bain Capital Life Sciences, RTW Investments, Atlas Venture, and Lyra Capital. The pipeline of Kailera…
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Genor Biopharma to Acquire EOC Pharma Group in a Merger Deal, Eyeing Commercialization Synergies
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Genor Biopharma Holdings Limited (HKG: 6998) has announced a definitive merger agreement with EOC Pharma Group (China) Co., Ltd. As part of the agreement, Genor Biopharma will acquire EOC Pharma through a share exchange, resulting in a reverse takeover. The company will change its name to “Edding Genor Group Holdings…
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Zephyrm Bioscience Aims for HKEX Main Board with Innovative Cell Therapy Products
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Zephyrm Bioscience Limited (hereinafter referred to as “Zephyrm Bio”) officially submitted its prospectus to the Hong Kong Stock Exchange (HKEX) on September 30, 2024, with the intention to list on the Main Board, with CICC acting as the sole sponsor. Established in 2017, Zephyrm Bio, a clinical-stage biopharmaceutical company, is…
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Whittilong Pharma Secures Over RMB 100 Million in Series B Financing for Modified Drug Development
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Whittilong Pharma, a Shanghai-based modified drug development company backed by Shanghai Healthcare Capital (SHC), has reportedly secured over RMB 100 million in a Series B financing round. The funding was provided by multiple family offices. Established in 2018, Whittilong Pharma specializes in the research and development of a diverse range…
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2seventy bio and BMS Discontinue Phase III Trial for Multiple Myeloma Therapy Abecma
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2seventy bio Inc. (NASDAQ: TSVT), a U.S.-based biotechnology company partnered with Bristol-Myers Squibb (BMS, NYSE: BMY) on the development of the chimeric antigen receptor (CAR) T-cell therapy Abecma (idecabtagene vicleucel; ide-cel), has announced the discontinuation of enrollment in a Phase III clinical trial. The trial, known as KarMMa-9, was investigating…
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Johnson & Johnson Reportedly Winding Down Cardiovascular and Metabolic Pharma Unit
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Johnson & Johnson (J&J; NYSE: JNJ), a healthcare giant in the U.S., is reportedly winding down its cardiovascular and metabolic pharmaceutical unit, as reported by Endpoints News. Insiders have indicated that J&J has issued notices to its sales, marketing, and medical affairs teams this week. The company has acknowledged the…
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Longbio Pharma Secures RMB 100 Million in Series B2 Financing to Advance Clinical Programs
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Longbio Pharma, a biopharmaceutical company specializing in biomacromolecule drug development and based in Shanghai, China, has reportedly secured nearly RMB 100 million in a Series B2 financing round. The round was led by Qiming Venture Partners, with the funds earmarked to accelerate the clinical trials of its core programs in…
