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F-star Therapeutics’ Acquisition by invoX Pharma Cleared by CFIUS
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UK biotech F-star Therapeutics, Inc. (NASDAQ: FSTX) has announced that it has received clearance from the Committee on Foreign Investment in the United States (CFIUS) for the all-cash acquisition by invoX Pharma Limited, a UK-based subsidiary of China’s Sino Biopharmaceutical Ltd (HKG: 1177). This clearance is a significant step towards…
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Heranova Closes $10M Seed Round for Women’s Health Solutions
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Heranova Lifesciences Holding, a provider of women’s health solutions, has announced the successful closure of a seed financing round at USD 10 million. The round was co-led by Pivotal Bioventure Partners and Sinovation Ventures, with the proceeds earmarked for commercialization efforts in the Asia-Pacific region. This includes the market launch…
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Neo Modulus Secures Series B Funding for Regenerative Medical Device Development
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Neo Modulus, a developer of regenerative implantable medical devices based in Suzhou, has reportedly raised “hundreds of millions” of renminbi in a Series B financing round. The round was led by SND Financial Holdings, with participation from JM Capital, CDH Investments, Hui Ding Capital, 10Fund, and Boya Clivia Venture Capital.…
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Siyi Intelligence Raises Series A Funding for Neural Rehabilitation Solutions
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Siyi Intelligence, a developer of soft rehabilitation robots based in Shanghai, has reportedly raised close to RMB 100 million (USD 14.46 million) in a Series A financing round. The round was led by Chengdu Tianfu International Bio-town’s fund, with additional contributions from Tao Capital. The proceeds will be directed towards…
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PulseCare Raises Pre-Series A Funding for Minimally Invasive Treatment Devices
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PulseCare, a Shenzhen-based maker of minimally and non-invasive treatment devices, has reportedly raised “tens of millions” of renminbi in a Pre-Series A financing round. The round was led by Kangju Venture Capital and Tsinghua Innovation Ventures. The proceeds will be directed towards clinical studies and the development of new product…
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TinKer Bio Raises Series A+ Funding for Microfluidic Chip Expansion
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China-based Hangzhou TinKer BioTechnology Co., Ltd, a leading microfluidic chip technology platform company, has reportedly raised “tens of millions” of renminbi in a Series A+ financing round. The funds will be directed towards manufacturing plant construction, CDMO business expansion, new technology and process research and development, and manufacturing capacity expansion.…
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Hexin Medical Technology Raises Series A Funding for Radionuclide Therapy
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Hexin Medical Technology Co., Ltd, a radionuclide therapy developer based in Suzhou, has reportedly raised over RMB 100 million (USD 14.5 million) in a Series A financing round. The round was led by Cowin Capital and Sunland Fund, with participation from Yishang Huicheng (Beijing) Investment. The proceeds will be used…
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TandemAI Secures $35M Series A to Expand Drug Discovery Platform
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TandemAI, a technology firm with operations in New York, San Diego, and China, has successfully completed a USD 35 million Series A finance round. The funds raised will be utilized to expand the company’s drug discovery service platform, enhancing its capabilities in the biotech sector. This strategic financing round attracted…
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Merck Reports 12.9% Sales Growth in 2022 Annual Report
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German major Merck (NYSE: MRK) released its 2022 annual report this week, showing a robust expansion in global net sales. The company reported a 12.9% year-on-year (YOY) increase to EUR 22.2 billion (USD 23.6 billion), driven by growth across all business sectors. This performance underscores Merck’s continued strength in the…
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Pengyang Yiliao Raises Series B+ Funds for Cardiovascular Product Development
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Pengyang Yiliao, a Beijing-based developer and manufacturer of cardiovascular technology, has reportedly raised “tens of millions” of renminbi in a Series B+ financing round. The investors included Suzhou Wuzhong Economic and Technological Innovation Investment Partnership Limited and Suzhou Wuzhong Jingkai Intelligent Manufacturing Investment Partnership Limited. The proceeds will be used…
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Glowe Raises Series A+ Funding to Expand AIGC in Mental Health
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Glowe, an online psychological consultation platform based in Guangdong, has reportedly raised “tens of millions” of renminbi in a Series A+ financing round. The round was led by FreesFund, with proceeds intended to ramp up the application of Artificial Intelligence Generated Content (AIGC) in the platform’s services. Glowe: Platform Overview…
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Geneus Tech Secures Funding for Gseq500 Gene Sequencer Production
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Geneus Tech, a Shenzhen-based developer and manufacturer of gene sequencers, has reportedly raised an undisclosed amount of money in a Series B+ financing round. The round was led by GF Xinde Investment and a private equity fund initiated by Zhejiang Dian Diagnostics Co., Ltd (SHE: 300244). The proceeds will be…
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Bayer Reports 2022 Sales Growth, Highlights New Drug Performances
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Germany-based Bayer (ETR: BAYN) released its 2022 annual report this week, revealing a global sales growth of 8.7% year-on-year (YOY) in constant exchange rate and portfolio-adjusted terms, reaching EUR 50.7 billion (USD 53.8 billion). The report highlights significant performances across its business segments, particularly in Pharmaceuticals and Consumer Health. Pharmaceuticals…
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China’s NRDL Update and Expansion of ‘Dual Channel’ Drug Access
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The latest update to China’s National Reimbursement Drug List (NRDL) was implemented from March 1, 2023. Alongside this, Shanghai released a list of 383 drugs that will be involved in the “dual channel” management system. This initiative allows insured patients in Shanghai to purchase these drugs at designated retail pharmacies…
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Eluminex Biosciences Closes $40M Series B for Ophthalmic Innovations
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China-based ophthalmic biotech Eluminex Biosciences (Suzhou) Ltd has announced the closure of a Series B financing round, raising over USD 40 million. The funds will be directed towards clinical studies in biosynthetic cornea and the development of several innovative ophthalmic drugs. The financing round was led by Cenova Ventures, with…
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RinuaGene Raises $14.4M in Pre-Series A+ for mRNA Drug Development
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RinuaGene, an mRNA-based drug developer based in Suzhou, has reportedly raised close to RMB 100 million (USD 14.4 million) in a Pre-Series A+ financing round. The round was led by Dr. Jiang Guangce, chairman of DeChuan Investment, with participation from Truking, K2 Venture Partners, and Chang’An Capital, among others. The…
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Oricell Therapeutics Closes $45M Series B1 Round for Cellular Immunotherapy
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China-based tumor cellular immunotherapeutics developer Oricell Therapeutics Co., Ltd has announced the closing of a USD 45 million Series B1 investment round. The round was led by premier global industry investors RTW Investments, LP and Qatar Investment Authority, with participation from existing investors, including Qiming Venture Partners and C&D Emerging…
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Danatlas Raises Pre-Series A Funding for Synthetic Lethality Drug Development
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Beijing-headquartered Danatlas, a first-in-class drug developer specializing in the synthetic lethality field, has reportedly raised “tens of millions” of renminbi in a Pre-Series A financing round. The round was led by Sequoia Capital China and Sherpa Healthcare Partners, with proceeds intended to accelerate the company’s drug research and development (R&D),…
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ConjuStar Peptide-Drug Conjugate Angel Financing
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Tianjin-based ConjuStar, a peptide-drug conjugate (PDC) developer incubated by Fosun Pharma and Wuxi Apptec, has reportedly raised RMB 55 million (USD 7.93 million) in an angel financing round. The round was led by Fosun Health Capital, with participation from Tahoe Venture Capital and other investors. The proceeds will be directed…
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Lepu and Keymed License CLDN18.2 ADC CMG901 to AstraZeneca
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China-based firms Lepu Biopharma Co., Ltd (HKG: 2157) and Keymed Biosciences Inc. (HKG: 2162) have jointly announced a licensing agreement with UK major AstraZeneca (AZ, NASDAQ: AZN) for CMG901, a potential first-in-class antibody-drug conjugate (ADC) targeting Claudin 18.2. AstraZeneca is taking on global development, manufacturing, and commercialization rights to the…
