Canbridge Pharmaceuticals Inc. has raised HK$604 million ($77.4 million) with a listing on the Hong Kong stock exchange, selling about 56.3 million shares (1228.HK) at HK$12.18 per share. The shares fell to HK$8.90 at the close of trading Dec. 10. Almost half the funds will support advancement of Canbridge’s lead candidate, CAN-008, a glycosylated CD95-Fc fusion protein in phase II testing for glioblastoma, while another quarter will support other major pipeline programs.
Avistone Biotechnology Co. Ltd. raised more than $200 million to support its oncology drug development and the acquisition Pearl Biotechnology Co. Ltd. with the aim of creating a “fully-integrated” targeted oncology platform. Vivo Capital LLC led the financing, with participation from Bain Capital LP. and Primavera Capital Group.
LONDON – New figures underline the devastating effect the pandemic is having on cancer clinical research, with recruitment to U.K. studies falling by 60%. A total of 27,734 patients were recruited in 2020/21, compared to an average of 67,057 in the three years previously. Over those three years, recruitment had been on the rise, going from 61,810 in 2017/18 to 71,709 in 2019/20, according to figures compiled by the Institute of Cancer Research in London.
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