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Novo Nordisk’s H1 2023 Financials Show 30% YOY Growth Driven by GLP-1 Drugs and Obesity Sales
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Denmark-based pharmaceutical company Novo Nordisk A/S (NYSE: NVO) has announced its financial results for the first half of 2023, with GLP-1 drugs and obesity sales propelling a 30% year-on-year (YOY) increase in revenues to DKK 107.7 billion (USD 15.9 billion) in constant exchange rates. Diabetes and Obesity Care Business ExpansionThe…
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Beijing’s Gene Cradle Secures Pre-Series B+ Funding Led by Cash Capital
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Gene Cradle, a Beijing-based gene therapy specialist, has reportedly secured tens of millions of renminbi in a pre-Series B+ financing round, with the investment being solely provided by Cash Capital. Company Background and PipelineFounded in 2018, Gene Cradle has established itself as a leader in the development and manufacturing of…
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Gracell Biotechnologies Secures $100 Million in Private Placement with Healthcare Investors
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Suzhou-based biotech firm Gracell Biotechnologies Inc., (NASDAQ: GRCL) has announced a purchase agreement with a select group of institutional and accredited healthcare specialist investors for a private placement of 138,900,000 ordinary shares, equivalent to 27,780,000 American depositary shares (ADSs), at a purchase price of USD 3.60 per ADS. The agreement…
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Jumpcan Pharmaceutical Partners with Nanjing Zenshine for Exclusive Promotion Rights of ZX-7101A in China
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China-based Jumpcan Pharmaceutical (SHA: 600566) has announced a strategic partnership with fellow Chinese firm Nanjing Zenshine Pharmaceuticals Co., Ltd. The agreement grants Jumpcan exclusive promotion rights to Zenshine’s polymerase acidic (PA) inhibitor, ZX-7101A, for the agreed indication in China mainland. Financial Terms and Promotion RightsIn exchange for the exclusive promotion…
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Kunshan Yiyuan Medical Technology Secures Over RMB 100 Million in Series B Financing
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Kunshan Yiyuan Medical Technology Co., Ltd (Medical Source), a company in China that specializes in the development of disruptive CT tubes, has reportedly raised over RMB 100 million in a Series B financing round. The round was led by Everest Venture Capital, with participation from Gaotou Venture Capital and Riverhead…
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ICE Bioscience Secures Series B+ Financing to Boost Integration Capabilities
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Beijing-based Contract Research Organization (CRO) ICE Bioscience has reportedly raised close to RMB 100 million (USD 14 million) in a Series B+ financing round. The round was led by Alwin Capital, with additional investments from EVEREST, CICC Capital, Addor Capital, and Root Venture Partners. The funds raised will be directed…
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GeneMind Biosciences Secures RMB 400 Million in Series C Financing to Expand Gene Testing
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Shenzhen-based DNA sequencer specialist, GeneMind Biosciences Co., Ltd, has reportedly raised RMB 400 million in a Series C financing round. The round was led by Kingmed Diagnostics and Guoxin Investment, with contributions from Shenzhen Hi-tech Investment and Venture Capital, Guochuang Zhiyuan, Changzhou Shuangye Venture Capital, and Cai Xin Capital. The…
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GluBio Pharmaceutical Secures $22 Million in A+ Round Financing to Advance Protein Degradation Drugs
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GluBio Pharmaceutical Co., Ltd., an emerging player in targeted protein degradation drug development, has announced the successful completion of a $22 million A+ round financing. Since its inception in March 2021, the company has raised nearly $90 million in total funding. This latest round was led by existing investor Qiming…
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Mindray Bio-Medical Electronics to Acquire Majority Stake in DiaSys Diagnostic Systems
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Shenzhen Mindray Bio-Medical Electronics Co., Ltd (SHE: 300760), a leading medical device company based in China, is poised to acquire a 75% controlling stake in Germany-headquartered in vitro diagnostics (IVD) specialist DiaSys Diagnostic Systems GmbH. The transaction is valued at EUR 115 million (USD 127 million), marking a significant move…
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EnChannel Secures RMB 200 Million in Series A Funding to Advance Electrophysiology Solutions
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EnChannel Medical, a Guangzhou-based electrophysiology platform company, has reportedly secured RMB 200 million (USD 28 million) in a Series A financing round. The round was co-led by Lapam Capital and Lilly Asia Ventures, with the proceeds earmarked for enhancing clinical filings, commercialization efforts, and research and development systems within the…
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Sinovation Secures Over RMB 100 Million in Series D+ Financing for Neurosurgery Innovations
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Beijing-based Sinovation (Beijing) Medical Technology Co., Ltd., a leader in neurosurgery diagnosis, minimally invasive procedure treatment, and smart industry platform, has reportedly raised over RMB 100 million (USD 14 million) in a Series D+ financing round. The round saw participation from notable investors such as Xinda Kunpeng Investment, Tsing Ventures,…
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Mirxes Holding Company Secures USD 50 Million in Series D Financing for RNA Technology
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Mirxes Holding Company Ltd, a Singapore-headquartered RNA technology company specializing in blood-based miRNA test kit products, has successfully closed a Series D financing round, raising USD 50 million. The funding round was supported by a consortium of existing and new investors, including Beijing Fupu, in which the Zhejiang Anji Economic…
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Kanova Biopharma Secures Over RMB 100 Million in Financing for Autoimmune and Oncology Pipeline
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Kanova Biopharma, a Suzhou-based developer of antibodies focused on autoimmune diseases and oncology, has reportedly raised over RMB 100 million (USD 13.9 million) in a new financing round. The round was led by GTJA Investment, marking a significant capital injection into the company’s pipeline development. Company Background and Product PipelineFounded…
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Carbon Medical Technology Secures Over RMB 100 Million in Series A Financing for Interventional Therapy
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Shenzhen-based Carbon Medical Technology Co., Ltd has reportedly raised over RMB 100 million (USD 13.9 million) in a Series A financing round, led by Cowin Capital with contributions from returning investor Jinding Capital. The funds will be directed towards enhancing product pipeline research and development (R&D), clinical and commercial layout,…
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Zennova Pharmaceutical Group Secures RMB 100 Million in Series B Financing for Commercial Manufacturing and R&D
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China-based Zennova Pharmaceutical Group has reportedly raised close to RMB 100 million (USD 13.9 million) in a Series B financing round, with Hengbao Investment Holdings being the sole participant. The funds raised will be directed towards the commercial manufacturing and market launch of Zennova’s products, as well as new product…
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Boyu Capital Acquires Hong Kong Medical Device Company Quasar for Over $600 Million
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Boyu Capital, according to a Bloomberg report, is set to acquire Quasar, a Hong Kong-based medical device company. The acquisition deal is valued at over USD 600 million, reflecting Quasar’s current market capitalization. The transaction is anticipated to close imminently, with the support of Quasar’s extensive healthcare clients globally. Quasar’s…
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Novartis Q2 2023 Results Exceed Expectations with 9% YOY Sales Growth
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Swiss pharmaceutical major Novartis AG (NYSE: NVS) has reported its financial results for the second quarter of 2023, with both sales and profits surpassing analyst forecasts. Net sales for the quarter reached USD 13.622 billion, marking a 9% year-on-year (YOY) increase in constant currency terms. Core net income also saw…
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MindRank Ltd Secures Over $20 Million in Series A+ Funding to Advance AI Drug Development
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China-based artificial intelligence (AI)-enabled drug developer MindRank Ltd has reportedly secured more than USD 20 million in a Series A+ financing round. Cherami Investment led the investment, which will be utilized to enhance drug development efforts and to upgrade and commercialize the company’s AI drug development platform. Upgrading the AI…
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Novartis Acquires DTx Pharma and Its FALCON Technology for Up to $1 Billion
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Swiss pharmaceutical giant Novartis (NYSE: NVS) has announced the acquisition of DTx Pharma Inc., a preclinical stage biotech company jointly incubated by Viva Biotech Holdings (HKG: 1873). The transaction includes a USD 500 million upfront payment and potential additional payments of up to USD 500 million upon the achievement of…
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Puncture Robotic Secures $13.9 Million in Series A+ Funding to Advance Medical Robotics
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Puncture Robotic, a Shanghai-based developer of medical robots, has reportedly raised RMB 100 million (USD 13.9 million) in a Series A+ financing round. The round was led by Shenzhen Capital Group, with participation from Huayi Capital. The funds raised will be allocated towards product research and development, clinical validation, enhancement…
