SHENZHEN – While China is rather new in biotech innovation and still has potential for growth, industry insiders worry about the long-term sustainability of innovation. Speaking at a recent conference in the southern Chinese city of Shenzhen, various experts said sustaining innovation may depend on differentiation, globalization and reimbursement policies.
SHENZHEN – To accelerate the development of cell therapies, China’s NMPA has introduced a dual-track regulatory pathway that allows companies to seek an IND with data from investigator-initiated trials.
Genome editing startup Edigene Inc. has raised RMB450 million ($67 million) in a series B financing round to move two of its programs for blood diseases into clinical trials. The financing round was led by 3H Health Investment, and supported by Sequoia Capital China, Alwin Capital and Kunlun Capital. Previous investors such as IDG Capital, Lilly Asia Venture, Huagai Capital and Green Pine Capital Partners also joined the round.
HONG KONG – Legend Biotech Corp. head Frank Fangliang Zhang has come under investigation by mainland Chinese law enforcement in relation to suspected violations of Chinese import and export regulations, the company said.
LONDON – Ion Beam Applications SA (IBA) has taken a giant step into China, sealing a €100 million-plus (US$118.2 million) licensing deal with a local company to manufacture, install and maintain its proton beam cancer therapy systems.
While the COVID-19 pandemic has brought disruptions to R&D, market activities in the biopharmaceutical sector have remained active during the first half of this year in China. Venture capital investments, IPOs and partnering activity showed upward trends, except for M&A activity, which has declined for two years.
Ever since the Hong Kong Stock Exchange (HKEX) overhauled its listing rules to welcome pre-revenue biotech companies in April 2018, Hong Kong has become the largest biotech fundraising hub in Asia, and the second largest in the world after Nasdaq, HKEX executives said Tuesday at the bourse’s biotech summit. The biotech IPO pipeline continues to grow and pre-revenue companies are more accepted into the city’s financial system.
LONDON – Ion Beam Applications SA (IBA) has taken a giant step into China, sealing a €100 million-plus (US$118.2 million) licensing deal with a local company to manufacture, install and maintain its proton beam cancer therapy systems.
HONG KONG – Huya Bioscience International LLC, which has a special interest in China-developed assets, has obtained an exclusive global license, bar China, for the SHP2 inhibitor HBI-2376 from Suzhou-based Genhouse Pharmaceutical Co. Ltd. Financial terms were not disclosed.
