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ETERN Therapeutics Secures Funding to Advance LLPS Platform and Clinical Trials for Anti-Tumor Drugs
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ETERN Therapeutics, a Shanghai-based developer of small-molecule anti-tumor drugs, has announced the commencement of a Series B+ financing round. The initial phase of this funding round was co-led by the AZ-CICC Fund and another Wuxi-based fund, with participation from Wuxi Capital. The capital raised will be directed towards the construction…
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Shanghai Unveils Massive Investment Projects and Funds to Boost High-Tech Industries
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Shanghai has unleashed a flurry of policy-backed project signings and initiatives, marking a significant boost for key industries in the region. In the first quarter of 2024, a total of 420 major investment projects, each valued at over RMB 100 million (USD 13.8 million), were executed, culminating in a total…
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Beijing’s Changping District and State-owned Capital Firm Launch RMB 20 Billion Healthcare Fund
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The Changping district of Beijing municipality has reached an agreement with Beijing State-owned Capital Operation and Management Co., Ltd to establish a medical and healthcare industry fund worth RMB 20 billion (USD 2.77 billion). This Beijing-based fund will focus on pivotal sectors including innovative drugs, innovative medical devices, and emerging…
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Merck Expands Global Footprint with Largest M Lab Collaboration Center in Shanghai
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Merck KGaA (ETR: MRK), a leading German technology company, has announced the completion of the M Lab Collaboration Center in Shanghai, which is the largest among its global network of 10 such centers. This significant expansion represents an additional investment of EUR 14 million, resulting in the addition of a…
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Sanofi Projects EUR 13 Billion in Dupixent Sales for 2024 Despite Q1 Challenges
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Sanofi (NASDAQ: SNY), a leading French pharmaceutical company, has released its guidance for the first quarter of 2024. Despite expectations that its top-selling interleukin blocker Dupixent (dupilumab) will face challenges from a co-pay assistance program in the first quarter, the company projects that the drug’s sales will reach EUR 13…
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Golden Leaf Med Tec Secures Series D Funding to Advance Hypertension and Diabetes Treatments
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Shanghai Golden Leaf Med Tec Co., Ltd, a specialist in interventional treatments based in China, has reportedly secured “hundreds of millions” of renminbi in a Series D financing round. The round was led by ZhongPing Capital, with participation from Shanghai Healthcare Capital, Dingxin Capital, and Morning Spring Venture. The funds…
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Astra Biotech Raises Tens of Millions in Pre-Series B Funding to Expand Diagnostic Capabilities
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Astra Biotech, a developer of single molecule immunodiagnostic technology based in Suzhou, has reportedly raised “tens of millions” of renminbi in a pre-Series B financing round. The round was led by Zheng Xuan Investment, with participation from BioTrack Capital, Chuangshou Equity Investment, and others. The funds will be utilized to…
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Horimed Secures Tens of Millions in Financing to Advance OCT Imaging Technologies
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Horimed, a Tianjin-based manufacturer of OCT imaging equipment, has reportedly raised “tens of millions” of renminbi in a recent financing round. The round was led by existing investor Tasly Capital, with contributions from Haihe Fund and Haitai Capital. The proceeds will be allocated to research and development, manufacturing, regulatory filings,…
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Beijing Varnotech Biopharm Secures RMB 600 Million in Series B Funding for Vaccine Development
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Beijing Varnotech Biopharm Ltd, a China-based specialist in human vaccines, has successfully raised RMB 600 million (approximately USD 83 million) in a Series B financing round. The round was co-led by the Beijing Medical and Health Industry Investment Fund and Huayin Financial Investment, with additional contributions from Watere Capital, Beijing…
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PoreSpect Secures Tens of Millions in Angel Funding Led by Forcefield Ventures
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PoreSpect, a Guangdong-based manufacturer of devices and consumables, has reportedly secured “tens of millions” of renminbi in an angel financing round. The funding was led by Forcefield Ventures, with additional contributions from Tiantu Capital and Yael Capital. Founded by a team of pioneers in solid-state nanopore preparation and detection, PoreSpect…
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Novo Nordisk Invests RMB 4 Billion to Expand Sterile Manufacturing in Tianjin
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Novo Nordisk (NYSE: NVO), a Denmark-based leader in diabetes care, has announced a substantial investment of RMB 4 billion (USD 555.6 million) for the expansion of its sterile preparation manufacturing facility in Tianjin. Construction on the site has commenced, with completion expected by 2027. This strategic expansion is set to…
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Shanghai Winpu Technology and Silver Mars Merge Under YinKe Holding to Accelerate Healthcare Innovation
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Shanghai Winpu Technology Co., Ltd., a specialist in medical-grade polymer materials based in China, has announced a strategic merger with Silver Mars, a Suzhou-based high-tech firm specializing in bionic materials. The merged entity falls under the umbrella of YinKe Holding, a technology conglomerate with a focus on the healthcare sector.…
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Microenergy Medical Technology Secures Pre-Series A Funding to Advance Medical Devices
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Microenergy Medical Technology Co., Ltd, a Hangzhou-based manufacturer of active intervention medical devices, has reportedly secured “tens of millions” of renminbi in a pre-Series A financing round. The funding was led by TigerYeah Capital, with contributions from TriWise Capital and HUAGAI Capital. Established in 2021, Microenergy Medtech has a presence…
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Fosun Pharma Launches RMB 5 Billion Fund to Boost Biopharmaceutical Investments in Shenzhen
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Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (SHA: 600196, HKG: 2196) has unveiled plans to establish a RMB 5 billion (USD 695 million) fund in collaboration with seven other investors, with Shenzhen FOF expected to contribute 50% of the total funding. The initiative aims to enhance resource sharing and cooperation between…
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Simnova Secures RMB 200 Million in Series A+ Funding to Advance CAR Therapy Pipeline
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Simnova, a Shenzhen-based developer of chimeric antigen receptor (CAR) adoptive cell therapies, has successfully raised RMB 200 million (approximately USD 27.8 million) in a Series A+ financing round. The round was led by Youshan Capital, with participation from SIP Oriza Seed Fund, PagodaTree Partners, and Triwise. The company’s pipeline features…
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Merck’s 2023 Annual Report: A Mixed Bag Amid Global Challenges
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Merck KGaA (ETR: MRK), a leading German chemical, reported a 5.6% decline in its global net sales for the fiscal year 2023, amounting to €21.0 billion ($23.0 billion). This contraction was partially attributed to the adverse impact of foreign exchange rates. The company’s Healthcare division, however, posted a 2.7% increase…
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Zylox-Tonbridge Medical Technology Secures Licensing Deal with Avinger to Boost Device Portfolio
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Zylox-Tonbridge Medical Technology (HKG: 2190), a China-based developer of nerve and peripheral vascular interventional devices, has announced a series of licensing and investment agreements with U.S. device manufacturer Avinger. The partnership aims to expand Zylox-Tonbridge’s portfolio of peripheral vascular intervention devices. According to the agreement, Zylox-Tonbridge will secure exclusive rights…
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Proviva Therapeutics Secures $18 Million in Series A Financing to Advance PTX-912
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Proviva Therapeutics, a Shanghai-based clinical-stage biotechnology company, has reportedly secured USD 18 million in a Series A financing round led by Lapam Capital, Ennovation Ventures, and Sangel Capital. The funds raised will be directed towards the clinical advancement of the company’s core product, PTX-912. Specializing in the development of next-generation…
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Lundbeck A/S Posts 8.2% YOY Revenue Growth in 2023 with Strong Performance Across Key Therapies
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Danish pharmaceutical company Lundbeck A/S (FRA: LDBB) has announced its financial results for 2023, highlighting an 8.2% year-on-year (YOY) increase in revenue to DKK 19.912 billion (USD 2.88 billion). The company is now under the leadership of CEO Charl van Zyl, who took over from Deborah Dunsire in October 2023.…
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Bayer Posts 1.2% YOY Sales Decline in 2023 with Pharmaceuticals and Consumer Health Segment Updates
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Germany’s Bayer (ETR: BAYN) has released its financial results for 2023, marking a year of declining sales that culminated in a 1.2% year-on-year (YOY) drop in constant currency and portfolio-adjusted terms, reaching €47.6 billion (USD 51.7 billion). The Pharmaceuticals segment generated €18.1 billion (USD 19.6 billion) with a 0.4% decline…
