Immorna Biotechnology Co. Ltd. raised nearly $100 million in series A+ and A++ financing rounds to speed up the clinical development and commercialization of its RNA-based therapeutics. Founded in 2019, Immorna develops therapeutics and vaccines based on its RNA platforms, including conventional, self-replicating and circular RNA.
Biocytogen Pharmaceuticals Co. Ltd.’s wholly owned subsidiary, Eucure Biopharma Co. Ltd., licensed exclusive greater China rights to YH-008 to Chipscreen Biosciences Co. Ltd. in a ¥596 million (US$86 million) deal. Chipscreen subsidiary, Chipscreen Newway Biosciences Co. Ltd., will develop and commercialize the bispecific antibody in mainland China, Hong Kong, Macau and Taiwan.
Indicating its continuing strategy to invest in antibody-drug conjugates (ADCs), Astrazeneca plc obtained exclusive global rights to Claudin 18.2 ADC CMG-901 from Keymed Biosciences Inc. and Lepu Biopharma Co. Ltd. in a deal worth up to $1.163 billion.
Transthera Sciences Inc., a Nanjing, China-based company developing small-molecule therapies in cancer, inflammation and cardiovascular disease, raised ¥260 million (US$38 million) in a series D+ funding round to advance its first drug product.
Harbour Biomed Holdings Ltd. licensed exclusive U.S. rights to B7H4 x 4-1BB bispecific immune activator HBM-7008 to Cullinan Oncology Inc. in a deal worth up to $625 million. China-based Harbour will obtain a $25 million up-front payment and is eligible to receive up to $600 million in development, regulatory and sales-based milestones, as well as tiered royalties of up to 20% on U.S. commercial sales.
Hengrui Pharmaceuticals Co. Ltd. licensed its EZH2 inhibitor, SHR-2554, to Treeline Biosciences Inc. in a deal worth more than $700 million. Treeline will be granted worldwide exclusive rights to the lymphoma drug, except for greater China, in exchange for an up-front payment of $11 million, development milestone payments of up to $45 million, and milestone payments of up to $650 million based on annual net sales once commercialization begins.
Corbus Pharmaceuticals Holdings Inc. signed a back end-loaded licensing deal worth up to $692.5 million with CSPC Megalith Biopharmaceutical Co. Ltd, a subsidiary of CSPC Pharmaceutical Group Ltd., for the latter’s Nectin-4-targeting antibody-drug conjugate CRB-701 (SYS-6002).
South Korea’s GI Innovation Inc. announced its IPO on the Kosdaq market with plans to raise up to $34 million in March 2023. Funds raised from the IPO will go toward phase I/II clinical trials of immunotherapy agent GI-101 in the U.S. and Korea, and a phase I trial of allergy treatment GI-301 (also known as YH-35324) in Korea.
Sirnaomics Ltd. is gearing up to start either an expanded phase IIb or a phase III clinical trial for its lead siRNA candidate, STP-705, for the treatment of two non-melanoma skin cancers: squamous cell carcinoma in situ and basal cell carcinoma.