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Week in Review: Alibaba Transfers Assets to Ali Health in $1.4 Billion Deal
Deals and Financings
JHL Biotech, a China-Taiwan biosimilar company, placed $106 million in convertible bonds in a financing led by VMS Investment Group, a Hong Kong PE firm (see story). The round was joined by existing shareholders. JHL will allocate its new capital to support clinical trials and further development of its biosimilar portfolio. Earlier this year, JHL completed a voluntary de-listing of its
HitGen, a
Xynomic Pharma, a Delaware-Shanghai oncology drug development company, completed a Series B crossover financing, led by
Zai Lab (NSDQ: ZLAB) of
Luye Pharma (HK: 2186), a Yantai biopharma, will collaborate with
vTv Therapeutics (NSDQ: VTVT) of North Carolina out-licensed China and Pacific Rim rights for a clinical-stage treatment aimed at inflammatory conditions to China's Newsoara Biopharma (see story). HPP737, a PDE4 Inhibitor, is expected to treat COPD and other inflammatory diseases. Newsoara will make an upfront payment along with development and commercialization milestones, plus royalties on sales. Based on Phase I trials, vTV believes HPP737 will be better tolerated than currently available PDE4 inhibitors.
Shuwen Biotech of Deqing will partner with Bliss Biopharma, a one-year-old
Link Health Group of Guangzhou in-licensed China rights to Lidoderm®, a lidocaine patch product aimed at pain associated with post-herpetic neuralgia (see story). Teikoku Pharma of
Trials and Approvals
Legend Biotech of Nanjing, a GenScript Biotech (HK: 1548) subsidiary, reported FDA approval of a US Phase Ib/II trial for its CAR-T therapy in patients with relapsed or refractory multiple myeloma (see story). One year ago, Legend stunned the ASCO cancer convention with a very positive 94% response rate from a
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