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Week in Review: MicroTech Medical Staging $245 Million HK IPO for Diabetes Products
Deals and Financings
MicroTech Medical (HK: 2235), a
LianBio, a
AffyImmune Therapeutics of Massachusetts closed a $30 million Series A+ round from a single firm, ORI Capital, a Hong Kong healthcare investor (see story). AffyImmune is a clinical stage CAR T developer focused on developing CAR T therapies for solid tumors. The company uses its proprietary tracking platform to tune the affinity of CAR T cells. The goal is reduce toxicity and increase CAR T cell longevity while allowing in vivo monitoring. The capital will be used to advance the Phase 1 study of AffyImmune's lead asset to treat specific types of thyroid cancer.
According to a Bloomberg article, I-Mab (NSDQ: IMAB) is in wide-ranging discussions with US and EU biopharmas for a deal that could out-license an I-Mab asset or involve a direct investment in the Shanghai biopharma (see story). The potential investors were not named. One year ago, I-Mab announced a blockbuster $2 billion deal with AbbVie (NYSE: ABBV) for global ex-China rights to I-Mab's anti-CD47 mAb. The agreement included options on two other anti-CD47 molecules for another billion dollars. Simultaneously, I-Mab is planning a second IPO on
Trials and Approvals
Himalaya Therapeutics of Shanghai has submitted four INDs in
Shanghai NovoCodex Pharma reported positive interim data from a
COVID-19 Pandemic
Beijing's Brii Bio (HK: 2137) reported data from a global Phase III trial that showed its combination mAb COVID-19 therapy was equally effective in patients who received the therapy in days 1-5 after onset of symptoms as those in days 6-10 (see story). The company said the data suggest the combination therapy will be effective among patients in later stages of their disease. Overall, Brii reported the candidate, which consists of two non-competing SARS-CoV-2 mAbs derived from convalesced COVID-19 patients, reduced hospitalizations and death by 78% among high-risk patients.
Kintor Pharma (HK: 9939) of
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