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Week in Review: BeiGene Cleared to Stage $3 Billion IPO on Shanghai STAR Exchange
Deals and Financings
CBC Group announced its CBC China Life Science Infrastructure Venture (CLSIV) fund held a first close of $500 million with a hard cap of $1.5 billion in total equity (see story). The fund was formed to provide best-in-class facilities for life science research, manufacturing and support services in
Shanghai AoHua Endoscope (SHA: 688212) completed a $117 million IPO on the Shanghai Star Exchange and rose 71% higher in its first trading session, bringing its market capitalization to over $800 million (see story). Formed in 1994, AoHua develops and sells electronic endoscopic equipment and surgical consumables, making products for gastroenterology, respiratory medicine, otolaryngology, gynecology, and emergency medicine uses. The company's stated goal is to become the world's leading provider of endoscope technology.
Chengdu Clover Biopharma (HK: 2197) received $38.9 million from CEPI to complete the development of its COVID-19 vaccine through market approval (see story). With the latest funds, CEPI, the Coalition for Epidemic Preparedness Innovations, has earmarked almost $400 million to develop SCB-2019 (CpG 1018/Alum), one of CEPI’s largest investments in any COVID-19 vaccine company so far. Once the vaccine is approved, Clover will supply up to 414 million doses to the COVAX Facility for global distribution.
Newsoara Biopharma of
Livzon Mabpharm of Zhuhai, Guangdong Provence, out-licensed its clinical stage PD-1 to Bright Peak Therapeutics of San Diego to develop PD-1 targeted immunocytokines (see story). The PD-1 ICs will contain optimized cytokine payloads developed by
Company News
EdiGene, a
Trials and Approvals
China regulators may approve Beijing Brii Bio's (HK: 2137) COVID-19 dual antibody therapy under conditional use rules next month, according to a publication from the Ministry of Science and Technology (see story). In October, Brii announced that the BRII-196/BRII-198 neutralizing mAb reduced hospitalizations and death by 78% in high-risk patients. The company also said the therapy was just as effective in days 6-10 after symptom onset as days 1-5, a surprising result.
Beijing HebaBiz Biotech was approved to start a China Phase III clinical study of Clevudine (L-FMAU), in patients with chronic hepatitis B virus (HBV) (see story). L-FMAU is a synthetic β-L nucleoside analogue that HebaBiz in-licensed from
Taicang Connect Bio (NSDQ: CNTB) reported that its interleukin-4 receptor alpha (IL-4Rα) candidate met its primary endpoint in a global Phase II trial for atopic dermatitis (see story). The trial tested CBP-201 in three dosing arms, all of which showed statistically significant improvements of 50% to 75% eczema reduction compared to currently available therapies. Although the news was positive, Connect's stock price dropped 50% to $5.75. The company's stock price has now dropped 66% from the level of its March IPO, which was priced at $17 per share.
Disclosure: none.
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