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Broncus Medical and Hangzhou Norchant Terminate Licensing Agreement with Cancellation Fee
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Broncus Medical Inc., (HKG: 2216) a provider of lung disease precision intervention solutions with operations in Shanghai and Hangzhou, China, and San Jose and Seattle, United States, has announced the termination of a licensing agreement between its subsidiary Broncus Medical and Hangzhou Norchant, which was originally signed in September 2021.…
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AbbVie Sues to Protect Rinvoq from Generic Competition in the US Market
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AbbVie (NYSE: ABBV) has initiated legal action in the US to safeguard its blockbuster drug Rinvoq (upadacitinib) from generic market entries by Switzerland-based Sandoz (SWX: SDZ) and Indian pharmaceutical companies Aurobindo Pharma (NSE: AUROPHARMA), Hetero Labs, Intas Pharmaceuticals, and Sun Pharmaceutical (NSE: SUNPHARMA). Despite holding patents on the JAK inhibitor…
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Zhejiang Huanqing Medical Technology Secures Series A Financing for Heart Failure Innovations
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Zhejiang Huanqing Medical Technology Co., Ltd, a Chinese specialist in heart failure solutions, has reportedly raised “tens of millions” of renminbi through a Series A financing round. This funding was facilitated by notable investors including Zhangjiang Leading VC, Haining Juan Lake Dream Technology Fund, Tailong VC, and Tahoe Venture Investment.…
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True Health Secures Over RMB 100 Million in Series B+ Financing for Surgical Robot Development
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True Health, a Guangdong-based surgical robot developer backed by Gree Group, has reportedly raised over RMB 100 million (approximately USD 14 million) in a Series B+ financing round. This significant funding will be allocated to enhance research and development efforts, accelerate innovation in the surgical robot sector, and procure essential…
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Bayer Halts Late-Stage Trial for Asundexian After Underperformance
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Germany-headquartered Bayer (ETR: BAYN) announced the termination of a late-stage trial for its antithrombotic candidate asundexian. Asundexian, once considered a potential blockbuster, was outperformed by the standard of care in preventing stroke and systemic embolism in patients with atrial fibrillation, the most lucrative indication for the drug, with an estimated…
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Dizal Pharmaceutical and Wuxi Gaofa Investment to Establish Joint Venture for Auto-Immune Disease Treatments
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China-based AstraZeneca (AZ, NASDAQ: AZN) spin-out, Dizal Pharmaceutical Co., Ltd (SHA: 688192), has entered into a cooperation framework agreement with Wuxi Gaofa Investment Development Group Co., Ltd to establish a joint venture (JV). The JV will focus on the research, development, manufacturing, and sale of golidocitinib and DZD8586, which are…
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Asia Regenerative Medicine Secures Pre-Series A Financing for Bioartificial Organ Development
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Shenzhen-based bioartificial organ developer, Asia Regenerative Medicine, has reportedly raised tens of millions of renminbi in a pre-Series A financing round. The round was led by Dee Capital, with additional investments from West Lake Photonics, HWealth Capital, Topology Capital, Xiamen Gaoxin Kechuang Angel Venture Capital Co., Ltd, and Ke Xi…
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VIVA Biotech Holdings Secures Nearly USD 210 Million in Financing Round
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China-based Contract Research Organization (CRO) VIVA Biotech Holdings (HKG: 1873) has announced the completion of a financing round, securing close to USD 210 million with backing from Temasek, Highlight Capital (HLC), and True Light. The Viva Biotech Holdings group obtained nearly USD 150 million through the transfer of approximately 24.21%…
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Fosun Pharmaceutical’s US Subsidiary Partners with Treehill Partners for Clinical-Stage Investments
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Fosun Pharmaceutical (Group) Co., Ltd (HKG: 2196; SHA: 600196) through its US subsidiary, Fosun Pharma USA, is partnering with Treehill Partners, a US-based financial and deal-making advisory firm specializing in the healthcare sector. The collaboration aims to establish a jointly operated investment vehicle targeting individual clinical-stage assets. Targeting High-Potential Clinical-Stage…
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WuXi Biologics’ Subsidiary WuXi XDC Lists on Hong Kong Stock Exchange
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WuXi Biologics (HKG: 2269) has successfully spun off its conjugate drug-focused subsidiary, WuXi XDC Cayman Inc., (HKG: 2268) to the Hong Kong Stock Exchange on Friday, November 17, 2023. Through the global offer, WuXi XDC issued 178.44 million shares at a price of HK 20.60 per share. The gross proceeds…
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PRECEDO Secures Over RMB 100 Million in Financing to Build Living Primary Cancer Cell Bank
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PRECEDO, a leading cell engineering specialist headquartered in Hefei, has reportedly secured more than RMB 100 million (USD 13.8 million) in a recent financing round. This capital injection, which includes investment from Sunland Fund and other financial backers, will be directed towards the construction of the renewable Living Primary Cancer…
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Huadong Medicine Co., Ltd Secures Partnership and Commercial Rights for Yuyan’s Botulinum Toxin
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China-based Huadong Medicine Co., Ltd (SHE: 000963) has entered into an equity investment and partnership agreement with Chongqing Yuyan Pharmaceutical Co., Ltd. This strategic alliance involves a significant investment and the acquisition of exclusive commercialization rights for Yuyan’s medical aesthetics product in key regions. Investment and Stake AcquisitionAs per the…
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Boehringer Ingelheim and Scottish Enterprise Co-Lead GBP 4.3M Seed Funding for Glox Therapeutics
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Germany’s Boehringer Ingelheim, in collaboration with Scotland’s national economic development agency Scottish Enterprise, has co-led a GBP 4.3 million (USD 5.3 million) seed funding round for Scotland-based biotechnology company Glox Therapeutics. The investment will enable Glox to establish new laboratories and expand its team, bolstering its mission to develop precision…
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Beijing-Based Immupeutics Medicine Secures Tens of Millions in Pre-Series A+ Financing
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Immupeutics Medicine, a Beijing-based developer in the field of tumor immunotherapy, has reportedly secured tens of millions of renminbi in a pre-Series A+ financing round. The funding round was led by Beijing state-owned Capital Operation and Management Center, with additional investments from Junshi Bio, Alwin Capital, and the company’s founder.…
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Merck Reports Q3 2023 Financial Results with Mixed Performance Across Segments
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Germany-based Merck (ETR: MRK) has released its financial results for the third quarter of 2023, revealing a 4.1% year-on-year (YOY) decline in organic sales, totaling EUR 5.2 billion (USD 5.5 billion) for the three-month period. The results highlight a challenging environment, with only the Healthcare division showing growth. The Healthcare…
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Sandoz Enters Euro Debt Market with $2.1 Billion Eurobond Issuance
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Switzerland-based Sandoz (SWX: SDZ), a leader in the generics and biosimilars market, has successfully entered the Euro debt capital market by issuing three inaugural Eurobond debt instruments, raising EUR 2.0 billion (USD 2.1 billion). This capital will be combined with a previous CHF issuance to repay a bridge loan of…
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Zhejiang Boner Medical Secures Over RMB 800 Million in Pre-IPO Financing for Strategic Expansion
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Zhejiang Boner Medical Investment Management Co., Ltd., known as Bang-er Orthopedics, a leading hospital investment operator focused on orthopedics and rehabilitation, has reportedly raised over RMB 800 million (USD 110 million) in a pre-IPO financing round. The round was led by C&D Emerging Industry Equity Investment, with participation from Sunshine…
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Bayer’s Q3 2023 Financial Report: A Mixed Bag with Consumer Health Driving Growth
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Germany-based major Bayer (ETR: BAYN) published its financial report for the third quarter of 2023, revealing global sales of EUR 35.8 billion (USD 38.3 billion) between Q1 and Q3, marking a 3.2% year-on-year (YOY) decline. Despite this, the company confirmed its 2023 guidance of EUR 48.5 billion to EUR 49.5…
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CIIE 2023: Danaher, Boehringer-Ingelheim, Merck, J&J, BeiGene, and Fosun Pharma Announce China Partnerships
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The 6th China International Import Expo (CIIE) held in Shanghai this week has been a platform for multiple companies to announce their strategic partnerships in China. Among the notable participants are Danaher (NYSE: DHR), Boehringer-Ingelheim (BI), Merck Sharp & Dohme (MSD, NYSE: MRK), Johnson & Johnson (J&J, NYSE: JNJ), BeiGene…
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Worg Pharmaceuticals Expands into Spain with Acquisition of Diater for EUR 150 Million
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Worg Pharmaceuticals, a Hangzhou-based developer of allergic drugs, has formally entered the Spanish market by obtaining the necessary regulatory approval and completing the acquisition of local biopharmaceutical company Diater from fund manager Nazca Capital for approximately EUR 150 million (USD 160 million). This strategic move marks a significant expansion for…
