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%.
HONG KONG – Chinese eye disease specialist Arctic Vision (Shanghai) Biotechnology Co. Ltd. raised $32 million in a series A financing round to advance its lead program, ARVN-001 (triamcinolone acetonide suprachoroidal injectable suspension).
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.
HONG KONG - Ocumension Therapeutics Ltd., a China-based ophthalmic pharmaceutical company, launched its IPO on the Hong Kong Exchange (HKEX) this week. The company seeks to raise more than HK$1.5 billion (US$190 million).
PERTH, Australia – Melbourne, Australia-based Opthea Ltd. announced positive top-line results of its phase IIa trial evaluating safety and efficacy of OPT-302 administered with Eylea (aflibercept, Regeneron Pharmaceuticals Inc.) in treatment-refractory patients with persistent diabetic macula edema (DME).
An international collaborative study led by geneticists at the Queensland Institute of Medical Research Berghofer Medical Research Institute (QIMR) in Brisbane, Australia, has used a multivariate approach to develop a polygenic risk score (PRS) for glaucoma.
HONG KONG – Bionetix Inc., of Suwon, South Korea, has secured ₩10.8 billion (US$9.33 million) in series B funding. The biotech, founded in February 2017, has attracted a total of KRW14.7 billion to date. The company will use the funds to advance NTX-301, a therapy for myelodysplastic syndrome/acute myeloid leukemia (MDS/AML) with epigenetic dysregulation, and NTX-101, a glaucoma treatment.
PERTH, Australia – On the heels of positive phase IIb data, Opthea Ltd. announced a private placement of AU$50 million (US$33.87 million) from institutional investors in Australia and the U.K. to advance lead candidate OPT-302 to phase III trials in wet AMD.