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National VBP Tender Round 8 to Be Held in Hainan with 40 Drugs Bidding
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The National Allied Procurement Office has released a notification regarding the Round 8 of the national Volume-Based Procurement (VBP) tender program. According to the notice, the tender will be held in Hainan, with results to be released on March 29. A total of 40 drugs will participate in the price…
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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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OcuMension Therapeutics Initiates Phase II Study for Dry Eye Treatment OT-202
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Chinese ophthalmology specialist OcuMension Therapeutics (HKG: 1477) has announced the initiation of a randomized, double-blind, placebo-controlled Phase II clinical study. The study is designed to assess the safety and efficacy of its Category 1 drug OT-202, a tyrosine kinase inhibitor (TKI) intended for the treatment of dry eyes. This marks…
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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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Shanghai Pharmaceuticals Partners with Baiyun District for Health Initiative
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China-based Shanghai Pharmaceuticals Holding Co., Ltd (SHA: 601607) has entered into a strategic cooperation agreement with Guangzhou’s Baiyun district. This public-private partnership is designed to bolster “Health Baiyun” through collaboration on functional cosmetics, general health, pharmaceutical commerce, and other fields. The initiative aims to enhance the healthcare industry in the…
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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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NHSA Releases Guidelines on Drug Procurement and Pricing Management
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The National Healthcare Security Administration (NHSA) has released a notification regarding provincial centralized procurement and pricing management. The document outlines several measures aimed at expanding the coverage of drugs in the volume-based procurement (VBP) program and preparing implementation measures for the eighth VBP round currently under preparation. Standardizing VBP Agreement…
