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Shenzhen-Based Synthetica Secures Initial Funding to Advance Oncolytic Bacteria Pipeline
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Synthetica, a pioneering developer of live bacteria drugs based in Shenzhen, has announced the successful completion of its first round of financing, with the specific amount remaining undisclosed. The round was led by Boehringer Ingelheim Venture Fund and Temasek, with participation from Lenovo Capital and Incubator Group, Fosun Health, and…
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Suzhou Hanerxi Medical Secures Series B Funding to Build Asia’s Largest Pen Injector Facility
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Suzhou Hanerxi Medical Device Development Co., Ltd, a specialist in pen syringe technology based in Suzhou, has reportedly secured “hundreds of millions” of renminbi in a Series B financing round. The round was led by Fuzhe Equity Investment Fund and Jiangsu Trautec Medical Technology Co., Ltd., with additional contributions from…
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GSK Enters into Strategic Partnership with Flagship Pioneering to Develop Novel Medicines and Vaccines
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UK pharmaceutical giant GlaxoSmithKline (GSK; NYSE: GSK, LON: GSK) has announced a new partnership with Flagship Pioneering, a biotech company based in Cambridge, Massachusetts, known for its role as a bioplatform for innovation across a diverse portfolio of over 40 companies. The collaboration will see an initial joint funding of…
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Livzon Pharmaceutical Group to Establish Joint Venture with PT Kalbe Farma in Indonesia
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China-based Livzon Pharmaceutical Group Inc. (HKG: 1513) has announced plans to form a joint venture (JV) with Indonesia’s leading pharmaceutical company, PT Kalbe Farma, TBK. The JV, with a registered capital valued at approximately RMB 582 million, will focus on the manufacturing of active pharmaceutical ingredients (APIs) in Southeast Asia.…
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LTZ Therapeutics Secures Over USD 20 Million in Series A Financing to Advance Immunotherapy Pipeline
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LTZ Therapeutics Inc., a biotechnology company specializing in immunotherapy with operations in both the US and China, has reportedly raised more than USD 20 million in a Series A financing round. The funding round was led by Lapam Capital, with participation from GL Ventures as well as existing investors Qiming…
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Guangzhou Red Pine Medical Secures Series D Funding to Accelerate Global Expansion
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Guangzhou Red Pine Medical Instrument Co., Ltd., a leading company in the disposable endoscope sector, has reportedly secured “hundreds of millions” of renminbi in a Series D financing round. The round was led by CICC Capital, with significant contributions from Guangzhou Industrial Investment and Capital, Oriza Seed, and other investors.…
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Bristol-Myers Squibb Q2 2024 Sales Boosted by Growth Portfolio, Offset by R&D Impairment
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Bristol-Myers Squibb (BMS; NYSE: BMY) has announced its financial results for the second quarter of 2024, with global sales increasing by 11% year-on-year to $12.2 billion, based on constant exchange rates. The growth was driven in part by the company’s ‘growth portfolio,’ which includes a dozen newer drugs that saw…
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Shanghai’s Spectrum Dynamics Medical Secures Major Financing for Molecular Imaging Innovations
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Spectrum Dynamics Medical, a Shanghai-based specialist in medical molecular imaging, has reportedly secured hundreds of millions of renminbi in a new financing round. The round was led by Shanghai Healthcare Capital (SHC), a prominent municipal industry fund in Shanghai, with the participation of Oriental Fortune Capital. This funding round is…
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AstraZeneca’s Q2 2024 Results Highlight Strong Growth Across Therapies, Excluding Vaccines
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AstraZeneca (NASDAQ: AZN), a UK-based biopharmaceutical company, has reported its financial results for the second quarter and the first half of 2024, demonstrating robust growth. For the six-month period, total revenues increased by 18% year-on-year (YOY) to $25.617 billion, with product sales also experiencing an 18% rise to $24.629 billion.…
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RemeGen Scales Back Private Placement to Fund New Drug R&D
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RemeGen (HKG: 9995), a biopharmaceutical company based in China, has revised its private placement plan, reducing the funds raised from the initially disclosed RMB 2.55 billion in June to RMB 1.953 billion. The capital will be directed towards the research and development of new drugs, bolstering the company’s pipeline which…
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Shanghai Desano and Chongqing Kangfude Partner to Establish Peptide Drug Production Base in China
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Shanghai Desano Biopharmaceutical Co., Ltd, a leading biopharmaceutical company based in China, has entered into a strategic partnership with Chongqing Kangfude Pharmaceutical Co., Ltd to establish a state-of-the-art peptide drug API and preparation production base in Chongqing. The collaboration involves an investment of RMB 120 million (USD 16.5 million) by…
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Fosun Pharma and Kite Pharma Inject USD 28.5 Million into Joint Venture for CAR-T Therapy Development
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Shanghai Fosun Pharmaceutical Group Co., Ltd (SHA: 600196; HKG: 2196) and Kite Pharma, a subsidiary of Gilead, have announced plans to bolster their joint venture, Fosun Kite Biotechnology Co., Ltd, through a capital increase. This will be achieved by proportionally converting their existing debt into equity, amounting to USD 28.5…
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MicroPort CardioFlow Secures Exclusive Distribution Rights for Evermend Occluders in China
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MicroPort Scientific Corp (HKG: 0853), a leading medical device company based in China, has announced that its spin-off, MicroPort CardioFlow Medtech Co., Ltd (HKG: 2160), has entered into a distribution framework agreement with Dongguan Kewei Medical Instrument Co., Ltd. Kewei, which was acquired by MicroPort Scientific in 2012, has agreed…
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Rona Therapeutics Secures USD 35 Million in Series A+ Round to Advance Nucleic Acid Therapies
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Rona Therapeutics, a Shanghai-based nucleic acid drug developer, has secured USD 35 million in a Series A+ financing round led by LongRiver Investments. The funding round also saw participation from Zhaode Investment, Zhongqi Capital, BioTrack Capital, and Lilly Asia Ventures. The company plans to utilize the proceeds to accelerate its…
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Beijing X-Magtech Secures Over RMB 100 Million in Series A+ Funding for Magnetic Field Measurement Tech
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Beijing X-Magtech Technologies, a specialist in ultra-weak magnetic field measurement technology, has reportedly secured over RMB 100 million (USD 13.8 million) in a Series A+ financing round. The funding round was led by the Beijing Robot Industry Development Investment Fund, with participation from CAS Star and existing investors including Everest…
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Guotai Junan and Haitong Securities to Launch $10 Billion in Industry Funds in Shanghai
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China’s prominent financial institutions, Guotai Junan Securities and Haitong Securities, have revealed plans to establish three industry-focused funds of funds (FoFs) in Shanghai with a combined target pool of RMB 89 billion (approximately USD 13.1 billion). These funds, to be managed by a newly formed entity, Shanghai Guotou Pioneer Private…
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E-Health Now Secures USD 13.8 Million in Series C Financing to Expand AI Medical Services
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E-Health Now, a China-based one-stop artificial intelligence (AI)-powered medical health service platform, has reportedly secured nearly RMB 100 million (USD 13.8 million) in a Series C financing round. The funding round attracted notable investors such as Ameba Capital, Ventech China, and Borchid Capital. The capital raised is intended to fuel…
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AusperBio Secures $37 Million in Series A Funding to Advance Hepatitis B Therapy AHB-137
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AusperBio, a sino-American biotechnology company specializing in liver therapy development, has reportedly secured USD 37 million in a Series A financing round. The round was spearheaded by the InnoPinnacle Fund, with additional investments from a consortium that includes Yuanbio Venture Capital, Hankang Capital, Qiming Venture Partners, and Genesis Capital. The…
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Legend Biotech’s Shares Leap on Acquisition Rumors; Parent Genscript Biotech Corp. Follows Suit
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Chinese biopharmaceutical firm Legend Biotech (NASDAQ: LEGN), a specialist in chimeric antigen receptor (CAR) T-cell therapy, has reportedly drawn the attention of a potential acquirer. This development sent Legend’s stock price climbing over 12% in a single day, as reported by the news platform Street Insider. The company has allegedly…
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Abbisko Therapeutics Forecasts Profits and Revenue Boost in H1 2024 on Merck Deal
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Abbisko Therapeutics Co., Ltd (HKG: 2256), a Shanghai-based biotechnology company, has released a positive financial forecast for the first half of 2024. The company anticipates total revenues to amount to RMB 497 million (USD 68.34 million) over the six-month period, marking a significant uptick. Additionally, Abbisko expects to report its…
