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Pilot Gene Technology Secures $13.8 Million in Series B Financing for Diagnostic Expansion
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China-based diagnostic reagents specialist, Pilot Gene Technology (Hangzhou) Co., Ltd, has reportedly raised RMB 100 million (USD 13.8 million) in a Series B financing round led by Simao Capital. The funds raised will be directed towards the research and development of fully automated instruments and equipment, including Point-of-Care Testing (POCT),…
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Innovac Therapeutics Secures $18 Million in Pre-Series A Financing for mRNA Vaccine Development
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Innovac Therapeutics, a Massachusetts-based mRNA vaccine developer, has announced the successful completion of its Pre-Series A financing round, raising $18 million. The funding was led by Lichen Capital, Vision Plus Capital, Couplet Health fund, TG Sino-Dragon Fund, and other investors. The proceeds from this round will be directed towards the…
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Johnson & Johnson Reports H1 2023 Sales Growth Following Kenvue Spinoff
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Global healthcare giant Johnson & Johnson (J&J; NYSE: JNJ) has released a financial update for the first half of 2023, following the completion of the separation of its consumer healthcare spinoff, Kenvue (NYSE: KVUE), into an independent company. The document reveals that H1 2023 global sales reached USD 42.4 billion,…
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Ronovo Surgical Secures Pre-Series B+ Funding to Advance Modular Surgical Robots
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Shanghai-based minimally invasive surgical robot developer, Ronovo Surgical, has reportedly raised close to RMB 200 million (USD 27.5 million) in a pre-Series B+ financing round. The round was led by NRL Capital, with contributions from Kington Capital, Lilly Asia Ventures, Vivo Capital, Matrix Partners, GGV Capital, and LongRiver Investments. The…
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Kangpu Biopharmaceuticals Secures Series B Funding to Advance Molecular Glue Therapies
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Shanghai-based Kangpu Biopharmaceuticals, Ltd has reportedly raised close to RMB 100 million (USD 13.8 million) in a Series B financing round. The round was led by V-Capital, with additional investments from Northern Light Venture Capital, Lapam Capital, Yijing Capital, Realharmony Capital, and Yinxinggu Capital. The proceeds from this funding will…
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Epigenic Therapeutics Secures $32 Million in Series A Funding for Gene Modulation Therapy
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Epigenic Therapeutics, a Shanghai-based biotech company specializing in gene modulation therapy through epigenome regulation, has successfully raised USD 32 million in a Series A financing round. The round was co-led by Qiming Venture Partners and OrbiMed, with participation from existing investor Morningside Venture Capital. The funds will be utilized to…
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Sandoz Expands Anti-Infective Portfolio with Acquisition of Astellas Pharma’s Antifungal Mycamine
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Switzerland-based Novartis (NYSE: NVS) subsidiary Sandoz has bolstered its global anti-infectives portfolio with the acquisition of Mycamine/Funguard (micafungin sodium) from Japan’s Astellas Pharma (TYO: 4503). Mycamine is the highest-selling antifungal of the echinocandin class, and while the transaction amount was not disclosed, the product generated JPY 14.2 billion (USD 105…
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Lundbeck A/S Reports 10% H1 2023 Revenue Increase with Record-Breaking Sales
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Denmark-based biopharmaceutical company H. Lundbeck A/S (OTCMKTS: HLBBF) has released its financial report for the H1 2023 period, reporting a 10% year-on-year (YOY) increase in sales revenues in constant exchange rate terms, reaching DKK 10 billion (USD 1.45 billion) over the six-month period. CEO Deborah Dunsire celebrated the “excellent performance,”…
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CanSino Biologics to Expand Southeast Asian Presence with Solution Group Berhad Stake
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China-based CanSino Biologics (SHA: 688185, HKG: 6185) is poised to acquire an undisclosed amount of shares in Malaysia-headquartered Solution Group Berhad, a strategic move aimed at expanding its market footprint in Southeast Asia. Collaboration in the Vaccine SectorPreviously, CanSino Bio entered into a partnership with Solution’s subsidiary, Solution Biologics Sendirian…
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CSH MEDI Secures Series A+ Funding to Advance Biomagnetic Equipment Technology
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CSH MEDI, a Shanghai-based biomagnetic equipment manufacturer, has reportedly raised close to RMB 100 million (USD 13.8 million) in a Series A+ financing round. The sole investor in this round was XinDing Capital. The proceeds from this funding will be allocated towards research and development, as well as the iteration…
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Shanxi Jinbo Bio-pharmaceutical Plans Fundraise with Private Placement and IPO Proceeds
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China-based Shanxi Jinbo Bio-pharmaceutical Co., Ltd. (832982.BSE) is poised to raise RMB 36.75 million through a private placement on the Beijing Stock Exchange, supplementing the RMB 245 million initial public offering (IPO) proceeds the company recently acquired. Jinbo Bio’s Industrialization of Recombinant Collagen ProteinFounded in 2008, Jinbo Bio has achieved…
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Saints Sages Surgical Secures Series B Funding to Advance Energy-Based Devices
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Shanghai-based Saints Sages Surgical Co., Ltd, a leading developer of high-value minimally invasive surgical products, has successfully raised an undisclosed amount in its Series B financing round. The round was led by Qiming Venture Partners, a returning investor, and the funds will be allocated to the research and development of…
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Eyebright Medical Technology Plans GRD Listing on SIX Exchange to Raise RMB 1.4 Billion
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Eyebright Medical Technology Co., Ltd (SHA: 688050), a Beijing-based company specializing in ophthalmic medical devices, is poised to issue 8,420,079 Global Depository Receipts (GRDs) on the SIX Exchange, pending approval from the Swiss bourse and regulatory filing in China. The listing is anticipated to generate a take-home amount of RMB…
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Suzhou Leadsynbio Secures Series D Funding to Boost R&D and Market Presence
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Suzhou Leadsynbio Technology Co., Ltd, a specialist in synthetic biology, has reported raised hundreds of millions of dollars of renminbi in a Series D finance round. The round was backed by existing investors Lily Asia Ventures and Sherpa Healthcare Partners. The proceedings from this funding will be allocated to bolder…
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Cascade Pharmaceuticals Secures RMB140 Million in Financing to Advance FXR Agonist Clinical Trials
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Shanghai-based sino-foreign joint venture, Cascade Pharmaceuticals, Inc., has reportedly raised RMB140 million in a recent financing round. The investors included a prestigious group of Puhua Capital, CAS Investment, HD Capital, Lapam Capital, and New Act Investment. The funds raised will be directed towards intensifying Phase II clinical studies for their…
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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…
