Carbon Medtech (Shenzhen) Co. Ltd. reported that it has raised “tens of millions of yuan” from its pre-A+ round financing. This financing was jointly led by Jinding Capital and Shenzhen Small & Medium Enterprises Credit Financing Guarantee Group Co. Ltd.
The University of Sydney is investing AU$478 million (US$326.5 million) to build a leading biomedical precinct to fast-track research and shorten the time between discovery and development of transformative therapies.
Investments in early stage biotech companies were in focus at the Hong Kong Stock Exchange’s (HKEX) Biotech Summit 2022. The virtual event on Sept. 1 saw discussions centered on this investment trend for younger biotech firms, which looks to be where capital is headed in the sector after a cooldown for listings in Chinese stock markets in the first half of 2022.
Biocytogen Pharmaceuticals Co. Ltd. has raised HK$471.1 million (US$60 million) in net proceeds through an initial public offering on the Hong Kong Stock Exchange Sept. 1. It plans to use about three-quarters of the proceeds to advance clinical trials of two of its core anticancer candidates, YH-003 and YH-001. Company shares (HKEX:2315), initially offered at HK$25.22 each, closed at HK$26 on their first trading day.
Pleco Therapeutics BV has raised €17.3 million (US$17.1 million) in equity, loan and grant financing to move its lead program into a phase I trial next year. The company, based in Nijmegen, the Netherlands, is bringing a fresh perspective to bear on a longstanding therapeutic concept – that cancer can be tackled by metal chelation. Quite a number of agents have entered the clinic over the years, but none as yet has delivered any useful outcome.
After raising AU$2.2 million in its series A round, University of Western Australia spinout Lixa Pty Ltd. has emerged from stealth mode and is gearing up for clinical trials of its anti-biofilm platform technology that could preserve antibiotics in the fight against antimicrobial resistance.