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Poseida Therapeutics Secures $50 Million Investment from Astellas for Cell and Gene Therapy
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US-based cell and gene therapy developer Poseida Therapeutics, Inc. (NASDAQ: PSTX) has announced a significant strategic investment of $50 million by Japan-headquartered Astellas (TYO: 4503). The investment consists of the purchase of 8,333,333 shares of common stock at $3.00 per share, totaling $25 million, and an additional one-time payment of…
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Lee’s Pharmaceutical’s Subsidiary Completes Phase III Study for Myopia Treatment NVK002
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China-based Lee’s Pharmaceutical Holdings Ltd (HKG: 0950) subsidiary, Zhaoke Ophthalmology Ltd (HKG: 6622), has announced the completion of the last patient visit in the one-year Phase III bridging study, Mini-CHAMP, for its NVK002—an atropine external use eye solution for myopia progression. Parallel Phase III Clinical Trials for NVK002In addition to…
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Eyebright Medical Technology’s Intraocular Lenses Earn Fast-Track Status in China
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Beijing-based Eyebright Medical Technology Co., Ltd (SHE: 688050) has announced that its “intraocular lenses with crystalline eyes” have been granted fast-track status as an innovative medical device in China. This designation underscores the potential impact of the company’s technology on the field of ophthalmology. Refractive Intraocular Lenses for Myopia CorrectionThe…
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Neurophth Biotechnology Secures RMB700 Million in Series C+ Financing for Gene Therapy Development
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China-based gene therapy specialist Neurophth Biotechnology Ltd has reportedly secured close to RMB700 million in a Series C+ financing round. The round was led by Changjiang Zhaoyin Industrial Fund, Optics Valley Financial Holing, Wuhan Hi-Tech, and Optics Valley Industrial Investment, all state-owned entities, along with Guangzhou Finance Holdings. This financing…
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Novartis Reports Positive Phase III Results for Remibrutinib in Chronic Spontaneous Urticaria
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Swiss pharmaceutical giant Novartis AG (NYSE: NVS) has announced positive data from the Phase III trials for remibrutinib, an oral Bruton’s tyrosine kinase (BTK) inhibitor, which is under development to treat chronic spontaneous urticaria (CSU). The Phase III REMIX-1 and REMIX-2 studies successfully met all primary and secondary endpoints, showing…
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Burning Rock Partners with AstraZeneca to Develop Companion Diagnostics for Cancer Therapies
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Guangzhou-based medical device giant Burning Rock (NASDAQ: BNR) has announced a strategic partnership with AstraZeneca (AZ, NASDAQ: AZN). The collaboration will utilize Burning Rock’s world-leading testing technology and high-quality, standardized testing capacities to develop and commercialize companion diagnostics (CDx) products for AstraZeneca’s breast cancer and prostate cancer therapies. Financial details…
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Audit Reveals Illicit Payments and Inflated Prices in Pharmaceutical Industry
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An audit has shed light on the use of third-party business promotion companies as a core method for illicit payments within the pharmaceutical sector. From 2021 to May 2023, three provincial pharmaceutical companies paid fees to 1,936 third-party business promotion companies, generating fake service fees and names to withdraw funds…
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Eli Lilly & Co. Reports 28% YOY Revenue Increase in Q2 2023 Financials
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US pharmaceutical giant Eli Lilly & Co., (NYSE: LLY) has released its financial results for the second quarter of 2023, revealing a robust 28% year-on-year (YOY) growth in revenues to USD 8.31 billion. This performance has surpassed expectations, prompting the company to upgrade its guidance for full-year revenues and profits.…