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Wecare Medical Secures Pre-Series A Funding to Advance Brain Health Technology
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Hangzhou-based Wecare Medical, a developer of brain disease diagnosis, monitoring, and treatment products, has reportedly raised tens of millions of renminbi in a Pre-Series A financing round. The round was led by Noyu Capital, with the proceeds earmarked for accelerating the development of temporal interference-based non-invasive deep brain electrical stimulation…
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Sandoz Inks Deal with Samsung Bioepis for Ustekinumab Biosimilar SB17
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The Sandoz (SWX: SDZ) unit of Switzerland-based Novartis (NYSE: NVS) has announced the in-licensing of ustekinumab biosimilar SB17 from South Korea’s Samsung Bioepis. The agreement covers the markets of Canada, the European Economic Area (EEA), Switzerland, UK, and the US. The biosimilar references Johnson & Johnson (J&J; NYSE: JNJ) subsidiary…
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China Updates Narcotics and Psychotropic Substances Catalog, Adds Three Substances
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The National Medical Products Administration (NMPA), Ministry of Public Security, and National Health Commission have jointly released a notification regarding the adjustment of the narcotics and psychotropic substances catalog in China. The updated catalog, which will come into effect on October 1, 2023, sees the addition of three new varieties,…
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Sinovac Biotech Advances SA55 COVID-19 Neutralizing Antibody into Phase II Trials
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China-based vaccines firm Sinovac Biotech Ltd (NASDAQ: SVA) has announced the completion of a Phase I trial and the immediate initiation of a Phase II study for its broad-spectrum COVID-19 neutralizing antibody, SA55. The molecule, which was first approved to enter clinical trials in China on May 24 this year,…
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Shanghai Haoyuan Chemexpress Aims to Raise RMB 1.16 Billion with Convertible Bonds
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China-based Contract Development and Manufacturing Organization (CDMO) Shanghai Haoyuan Chemexpress Co., Ltd (SHA： 688131) has announced plans to raise up to RMB 1.16 billion (USD 160 million) through the issuance of an undisclosed amount of convertible bonds (CDs). This strategic financing move is expected to strengthen the company’s financial position…
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Jiangsu Hengrui Medicine Gets NMPA Approval for HRS-7450 Acute Ischemic Stroke Study
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Jiangsu Hengrui Medicine Co., Ltd (SHA: 600276), a leading pharmaceutical company based in China, has announced that it has received approval from the National Medical Products Administration (NMPA) to conduct a clinical study for its investigational drug HRS-7450 in patients with acute ischemic stroke. HRS-7450: A Next-Generation Thrombolytic DrugHRS-7450 is…
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SinoMab BioScience Receives NMPA Approval for Phase I Study of Atopic Dermatitis Drug SM17
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Hong Kong-based biotechnology company SinoMab BioScience Ltd (HKG: 3681) has received approval from the National Medical Products Administration (NMPA) to conduct a Phase I clinical study in China, assessing the safety of SM17, a first-in-class drug for atopic dermatitis (AD). The study is set to commence in the fourth quarter…
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Merck & Co. Becomes First Multinational to Register Unit in Hainan’s Lecheng Pilot Zone
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US pharmaceutical major Merck, Sharp & Dohme Inc., (MSD, NYSE: MRK) has officially registered a unit in the Lecheng pilot zone of Boao, Hainan province, marking a significant milestone as the first multinational company to obtain a business license in the city. Hainan Boao Lecheng International Medical Tourism Pilot Zone’s…
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