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Novartis Sees Robust Growth in Innovative Medicines with 2023 Financials Reflecting a Shift Toward R&D Focus
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Novartis (NYSE: NVS), the Swiss pharmaceutical giant, reported a substantial leap in its global sales for the last financial year, amassing USD 45.4 billion—a 10% year-on-year (YOY) increase in constant currency terms, as per the 2023 financials released this week. This achievement marks Novartis’s inaugural annual report following the strategic…
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Shanghai CureGene Pharmaceutical Secures USD 14 Million in Series B Financing to Advance Cardiovascular Treatments
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Shanghai CureGene Pharmaceutical Co., Ltd, a Chinese biopharmaceutical company, has announced the successful completion of a Series B financing round, raising RMB 100 million (USD 14 million). The financing was led by Tailong Capital, with additional investments from Elikon Venture and TigerYeah Capital, as well as participation from existing investors…
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Mindray to Acquire 21.12% Stake in APT Medical for RMB 6.652 Billion
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Mindray (SHE: 300760), a leading China-based medtech firm, has announced plans to acquire a 21.12% stake in APT Medical Inc., a Shenzhen-based specialist in cardiac electrophysiology that went public on Shanghai’s STAR market in 2021. The acquisition will cost Mindray approximately RMB 6.652 billion (USD 926.6 million). Additionally, Mindray will…
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BJ Bioscience Inc. Faces Bankruptcy as Hangzhou Court Accepts Liquidation Application
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The Hangzhou Yuhang District People’s Court has released a document indicating that BJ Bioscience Inc.’s application for bankruptcy liquidation has been accepted for review. The Hangzhou-based firm becomes the first domestic biotech company to face insolvency this year. Established in 2018, BJ Bio focused on research and development (R&D) of…
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Shanghai’s Reunion Biotech Secures Series B Funding to Advance Hydrogel Products
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Reunion Biotech, a Shanghai-based medical hydrogel manufacturer, has reportedly secured nearly RMB 100 million (USD 14 million) in a Series B financing round. The funding was led by Dingxin Capital, with existing investors Qiming Venture Partners and Conson Financial Holdings contributing to the oversubscribed round. The proceeds will be allocated…
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Digital Precision Medicine Secures Over $28 Million in Series C Financing
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Digital Precision Medicine (DPM), a molecular imaging technology developer incubated by the Chinese Academy of Sciences (CAS) and comprising Beijing Digital Precision Medical Technology Co., Ltd, and Zhuhai Dipu Medical Technology Co., Ltd, has reportedly raised over RMB 200 million (USD 28 million) in a Series C financing round. The…
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Endoso Life Raises Over $14 Million in Series A to Expand Endoscope Product Lines
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Endoso Life, a developer of high-end medical endoscope systems headquartered in Hangzhou, has reportedly secured more than RMB 100 million (USD 14 million) in a Series A financing round. The round was led by WEGO’s fund, with additional investment from Lapam Capital. The funds raised will be directed towards expanding…
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Bayer Unveils New Operating Model to Drive Profitable Growth Amid Challenges
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Facing a challenging business landscape, Germany’s Bayer (ETR: BAYN) has announced a new operating model aimed at enhancing its performance and returning to profitable growth. The plan includes significant job cuts as part of an ongoing staff reduction program, with compulsory redundancies set to begin in 2027. In contrast to…
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Shanghai’s EnjoSim Secures Tens of Millions in Pre-Series A Funding for Expansion
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EnjoSim, a Shanghai-based developer of microbiologic self-administration systems, has reportedly secured tens of millions of renminbi in a Pre-Series A financing round. The funds will be directed towards scaling up the operation of multiple fully automatic production lines, developing new products, and expanding the company’s business reach both within China…
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Changchun High & New Technology to Transfer 7.42% Stake to Ex-Wife in Divorce Settlement
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Changchun High & New Technology Industries (Group) Inc., (SHE: 000661) has announced plans to transfer 30,014,100 shares, representing a 7.42% stake, to Wang Simian, the ex-wife of company shareholder Jin Lei and founder of subsidiary Changchun GeneScience Pharmaceutical Co., Ltd., as part of their divorce agreement. Based on the estimated…
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Keylights Biotechnology Raises $14 Million in Series B to Expand IVD Instrument Range
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Keylights Biotechnology Co., Ltd., a leading in vitro diagnostic (IVD) instruments manufacturer headquartered in Shenzhen, has reportedly secured nearly RMB 100 million (USD 14 million) in a Series B financing round. The round was led by Luxin Venture Capital, with participation from Hanchi Venture Capital. The funds raised will be…
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C4 Therapeutics Outlines 2024 Focus Amid 30% Workforce Reduction, Prioritizes Key Oncology Trials
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C4 Therapeutics (NASDAQ: CCCC), a leader in protein degradation, announced this week its strategic focus for 2024, which includes a significant reduction of 30% in its workforce. The U.S.-based company will prioritize ongoing Phase I/II trials for CFT7455 and CFT1946, targeting relapsed/refractory multiple myeloma (r/rMM) and BRAF V600X-mutant solid tumors,…
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Synvida Raises Nearly RMB 200 Million in Series A Funding to Advance Clinical Studies
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Synvida, a biotech company incubated by Shanghai Pharma (HKG: 2607, SHA: 601607) and Shanghai Healthcare Capital (SHC), has reportedly secured nearly RMB 200 million (approximately USD 28 million) in a Series A financing round led by Lapam Capital, with participation from SHC. The funds will be allocated to clinical and…
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Bebig Medical Group Secures Over USD 14 Million in Series B Financing to Boost Radiotherapy Technology
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Bebig Medical Group, a Germany-based provider of high-quality radiation therapy products with a presence in China and the United States, has reportedly secured over RMB 100 million (USD 14 million) in a Series B financing round. The sole investor in this round was Cathay Capital. The funds raised are intended…
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Bayer AG Leads Series D Investment in Jixing Pharmaceuticals, Eyeing Commercialization Rights
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Bayer AG (ETR: BAYN, OTCMKTS: BAYRY), a leading German pharmaceutical company, has announced a long-term collaboration with Jixing Pharmaceuticals, a China-based firm, following its leadership in a Series D financing round. The investment is being made in conjunction with RTW Investments, the fund that established and supported Jixing. Bayer’s venture…
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Novartis to Fully Acquire SanReno Therapeutics to Expand Kidney Drug Portfolio in China
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Novartis (NYSE: NVS), a Swiss pharmaceutical giant, has announced plans to acquire the remaining shares in SanReno Therapeutics, a Shanghai-based developer of kidney drugs. This move is aimed at bolstering Novartis’s kidney product portfolio in China. The financial details of the transaction have not been disclosed. SanReno Therapeutics was established…
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Ningbo Linstant Polymer Materials Secures Over USD 14 Million in Series B Financing to Boost Production and Global Reach
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Ningbo Linstant Polymer Materials Co., Ltd, a Chinese manufacturer specializing in polymer accessories for medical devices, has reportedly secured over RMB 100 million (USD 14 million) in a Series B financing round. The funding was led by Fenghua VC, with additional investments from NTG. The company plans to use the…
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OnCusp Therapeutics Secures Oversubscribed USD 100 Million Series A Financing for CDH6-Targeting ADC
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OnCusp Therapeutics, a U.S.-based biopharmaceutical company, has closed an oversubscribed Series A financing round, raising USD 100 million. The round was led by Novo Holdings, OrbiMed, and F-Prime Capital, with significant contributions from BioTrack Capital, a Chinese investor involved in OnCusp’s seed funding, Catalio Capital Management, Marshall Wace, Forge Life…
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Suzhou Elite Analytical Instruments Secures Over $14 Million in Initial Funding Round
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Suzhou Elite Analytical Instruments Co., Ltd, a leading specialist in liquid chromatography based in China, has reportedly raised more than RMB 100 million (USD 14 million) in its first-ever financing round. The funding was co-led by Jifeng Ventures and SND Rongsheng Investment, with additional investments from SIDVC, Qiaojing Capital, New…
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Beijing Avistone Pharmaceuticals Raises RMB 1 Billion in Series B Funding to Accelerate Drug Development
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Beijing Avistone Pharmaceuticals Biotechnology Co., Ltd, based in China, has successfully closed its Series B funding round, raising RMB 1 billion (approximately USD 140 million). The round was jointly led by CS Capital and IDG Capital, with additional contributions from YanChuang Group, Cathay Capital, and existing investor Bain Capital. The…
