Did you know?
ChinaBio® Group is a consulting and advisory firm helping life science companies and investors achieve success in China. ChinaBio works with U.S., European and APAC companies and investors seeking partnerships, acquisitions, novel technologies and funding in China.
Free Newsletter
Have the latest stories on China's life science industry delivered to your inbox daily or weekly - free!
Free Report
Week in Review: Innovent Completes $421 Million Hong Kong IPO; Will Start Trading Next Week
Deals and Financings
Innovent Biologics has priced its Hong Kong IPO to raise $421 million, very close to the top of the expected range (see story). The company set its offering price at HK$13.98, just below the top of the range. The successful IPO shows investors are still interested in young
China Everbright Limited, a Hong Kong firm, held its first closing of $155 million for the third iteration of its life science investment vehicle, Everbright Medical & Healthcare Fund III (see story). The company expects its third fund to eventually raise $216 million. The first closing brings the total assets of Everbright's three healthcare funds to $432 million. Everbright invests over all stages of companies involved in pharma-biotech, health services, medical consumables, devices and equipment. It also participates in restructurings of
XtalPi, a Boston-Shenzhen startup, raised $46 million in a second B round tranche, to develop its computer-driven drug research services (see story). XtalPi says it combines quantum physics, artificial intelligence and cloud computing to improve pharmaceutical research. The new funding was led by China Life Healthcare Fund. XtalPi says its Intelligent Digital Drug Discovery and Development (ID4) platform provides accurate predictions on the physiochemical and pharmaceutical properties of small-molecule candidates for drug design.
Xgene Pharma, a
Shanghai Fosun Pharma (HK: 02196; SHA: 600196) will invest $10 million into Glycotest, a New York City company that is developing non-invasive diagnostic tests for early stage hepatocellular carcinoma (HCC), liver fibrosis and cholangiocarcinoma (bile duct cancer) (see story). Fosun will own 40% of Glycotest after it completes its investment and will have rights to market Glycotest's HCC panel in
CANbridge Pharma of
WuXi AppTec (SHA: 603259), China's largest CDMO, formed a big data JV with China Electronics Data Service Co. that will gather hospital medical and prescription data (see story). The JV, which will be called CW Data, plans to provide real world data on
Trials and Approvals
Zai Lab (NSDQ: ZLAB) of
Green Valley Pharma of Shanghai announced positive results from the Phase III trial of GV-971, its oral carbohydrate treatment for Alzheimer's Disease, at a recent scientific meeting in
Suzhou Alphamab Oncology and 3D Medicines of Shanghai have started China Phase III trials of their novel fusion anti-PD-L1 antibody in patients with bile tract carcinoma (see story). The candidate is also in a China Phase II trial for MSI-H solid tumors. According to the companies, KN035 is a first-in-class PD-L1 single-domain antibody with the unique advantages of subcutaneous injection and good stability at room temperature. So far, more than 300 patients have participated in KN035 clinical trials in the
CStone Pharma of
CASI Pharma (NSDQ: CASI), a Maryland-Beijing biopharma, acquired a US FDA-approved abbreviated new drug application from Laurus Labs of India, for tenofovir disoproxil fumarate (TDF), a first-line treatment for hepatitis B (see story). CASI will use the ANDA to apply for approval of the generic drug in
Jiangsu Hengrui Medicine (SHA: 600276) and LSK BioPharma of Salt Lake City announced a global test that combines Hengrui's PD-1 candidate with LSKB's rivoceranib, a VEGFR-2 inhibitor, as a treatment for hepatocellular carcinoma (see story). Hengrui's PD-1 mAb, camrelizumab, is currently under NDA review in
Reistone Biopharma, a
Disclosure: none.
ChinaBio® News
Greg Scott Interviewed at BIO-Europe Spring
How to bring your China assets to China in 8 minutes
"Mr. Bio in China."
Mendelspod Interview
Multinational pharma held to a higher standard in China