Huadong Medicine Co. Ltd.’s wholly owned subsidiary Hangzhou Zhongmei Huadong Pharmaceutical Co. Ltd. has acquired Asia-Pacific rights to two drugs from Kiniksa Pharmaceuticals Ltd. in a deal worth up to $662 million. “This collaboration aims to bring Kiniksa’s therapeutics to patients in the Asia Pacific Region suffering from severe autoimmune and inflammatory diseases,” said Sanj Patel, chairman and CEO of Kiniksa. “The collaboration also provides nondilutive capital, cost-sharing, and resources for clinical trials to accelerate our drug development and commercialization efforts.”

Third Harmonic Bio Inc. CEO Natalie Holles said the company’s $105 million in series B money will push THB-001 – a first-in-class, highly selective, oral inhibitor of wild-type KIT – “well past the first proof-of-concept study in inducible urticaria [hives].”