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Week in Review: BeiGene Out-licenses TIGIT Inhibitor to Novartis in $2.8 Billion Pact
Deals and Financings
Beijing BeiGene (NSDQ: BGNE; HK: 06160; SHA: 688235) out-licensed ex-China rights for its TIGIT inhibitor to Novartis (NYSE: NVS) in a multi-faceted $2.8 billion deal (see story). As part of the agreement, BeiGene will have rights to market five Novartis oncology drugs in
Shanghai Ji Xing Pharma in-licensed
Shanghai Nuance Pharma acquired China rights to AeroFact™, an innovative non-invasive therapy for respiratory distress syndrome developed by
ArriVent Biopharma of Philadelphia formed a $100 million collaboration with Aarvik, a Bay Area company, to develop a novel cancer therapeutic for global markets (see story). Aarvik will discover a candidate, using its modular platform that combines multiple target mechanisms. ArriVent will be responsible for clinical development and commercialization. In June 2021, ArriVent raised $150 million from
Changchun GeneScience Pharma acquired China rights from Luye Pharma to commercialize two transdermal patch products for Alzheimer's in an agreement worth up to $43 million (see story). The patch delivers a cholinesterase inhibitor that treats symptoms of Alzheimer's but does not inhibit progression of the disease. In 2016, Luye acquired the transdermal patch business of
TandemAI, a Suzhou AI-based drug discovery company, raised $25 million in Seed and pre-Series A financing (see story). The company integrates its proprietary AI-driven, high-performance computation platform with large-scale in-house wet lab operations to deliver a complete drug discovery program. The company bases its work on advanced AI and the latest discoveries in biophysics, TandemAI aims to increase the speed of drug discovery and deliver cost-effective candidates. The round was led by OrbiMed and Chengwei Capital.
Company News
BeiGene (NSDQ: BGNE; HK: 06160; SHA: 688235) launched the BeiGene Bioisland Innovation Center (BIC) in
Trials and Approvals
Suzhou CStone Pharma (HK: 2616) reported its anti-PD-L1 monoclonal antibody was approved for first-line use in non-small cell lung cancer (see story). Cejemly® (sugemalimab) was approved in combination with chemotherapy for treatment-naïve metastatic
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