HONG KONG – Looking to boost its R&D capacity, China’s Sunshine Guojian Pharmaceutical (Shanghai) Co. Ltd. launched an IPO on July 22 that raised ¥1.7 billion (US$240 million) on Shanghai’s STAR market. Shares (SSE:688336) almost doubled in value on the first day of trading, closing at ¥54.10, for a gain of 92%.
DUBLIN – Roche Holding AG has joined Jnana Therapeutics Inc. in its quest to drug the human repertoire of solute carrier (SLC) metabolite transporters as a means of tackling a swath of immune-mediated and neurological diseases. The Basel, Switzerland-based pharma is paying Boston-based Jnana $40 million up front and could pay over $1 billion more in research funding, preclinical, development and commercial milestones, as well as sales royalties, in a multitarget deal.
IPOs from Alx Oncology Holdings Inc. and Pandion Therapeutics Inc. launched July 17 as investors continued to pour money into biopharma’s public sector. Through June, $8.53 billion in biopharma IPOs had been filed so far this year by 35 companies.
BEIJING – Known for its transgenic mouse platforms to develop antibodies, U.S., China and the Netherlands-based Harbour Biomed Therapeutics Ltd. closed a series C funding round July 9 to raise $102.8 million to advance its late-stage clinical programs and COVID-19 pipeline.
The industry's expanding quest for protein degraders grew a little larger on July 9 with Sanofi SA tapping Kymera Therapeutics Inc. to advance two new protein degrader programs, one of which will target IRAK4 in patients with immune-inflammatory diseases and another for an undisclosed target. Each program could yield multiple therapies.
BEIJING – Known for its transgenic mouse platforms to develop antibodies, U.S., China and the Netherlands-based Harbour Biomed Therapeutics Ltd. closed a series C funding round July 9 to raise $102.8 million to advance its late-stage clinical programs and COVID-19 pipeline.
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