Signs of recovery are emerging in the biotechnology investment sector, although investors across Asia say that capital is flowing selectively to companies that can demonstrate clinical differentiation, strong management teams and a clear path to commercialization.

Mindrank AI Ltd. completed a $52 million series B round to advance MDR-001, its AI-discovered oral small-molecule GLP-1 receptor agonist, which is in phase III trials for obesity in China.

Alebund Pharmaceuticals (Jiangsu) Ltd. was the third Chinese biotech company to debut in Hong Kong this month, with June IPO proceeds from Alebund, Longbio Pharma Co. Ltd. and Shaanxi Micot Pharmaceutical Technology Co. Ltd. totaling about HK$4.7 billion (US$600 million).

Corxel Pharmaceuticals Ltd.’s oral small-molecule GLP-1 receptor agonist, CX-11, met the primary endpoints in a phase II trial evaluating the candidate in obese and overweight patients in the U.S., according to top-line results.

The gut microbiota may be altered in people with depression as a result of treatment. These microorganisms reorganize differently in individuals who respond to therapy. In a multiomics study of antidepressant-naive patients presented at the 2026 World Congress of Neuropsychopharmacology (CINP), scientists from National Taiwan University found that patients who improved after antidepressant treatment maintained a more balanced and functional microbial ecosystem, recovered beneficial metabolites, and displayed blood-based biological signals that aligned with these changes.

Chinese peptide therapeutics developer Shaanxi Micot Pharmaceutical Technology Co. Ltd. is seeking up to HK$1.22 billion (US$155 million) in a Hong Kong IPO to advance its lead phase III chronic kidney disease candidate, MT-1013, and next-generation obesity therapies.

Laekna Inc. is handing ex-China rights to internally discovered PI3Kα pan-mutant selective inhibitor LAE-118 to U.S.-based Vasque Bio Inc. in a deal worth up to $527 million, marking another asset-monetization move by the Shanghai company as it looks to fund and accelerate development across its oncology and metabolic disease pipeline.

Chinese diabetes specialist Gan & Lee Pharmaceuticals is strengthening its position in metabolic disease after reporting positive phase III data for both once-weekly basal insulin candidate Ludefen and obesity therapy bofanglutide.

Dimerix Ltd. has signed an exclusive licensing deal with Everest Medicines Ltd. to commercialize its phase III kidney disease candidate DMX-200 in a transaction worth up to AU$481 million (US$340 million), plus sales royalties.

D&D Pharmatech Inc. announced May 27 positive top-line tissue biopsy results of zabopegdutide (DD-01) from a 48-week phase II study of metabolic dysfunction-associated steatohepatitis (MASH), pushing company shares up 30% on the day.