HONG KONG – Daejeon, South Korea-based biotechnology company G2GBIO Inc. has raised ₩11.4 billion (US$9.53 million) from a series B financing round, with the funds to be used on clinical trials for a sustained-release Alzheimer’s treatment as well as nonclinical trials for diabetes and sustained-release postoperative pain treatments.
In the shadow of COVID-19, experts at the BIO Asia-Taiwan conference on Wednesday warned of present and future challenges for the biotech industry. Changes in manufacturing logistics and financial distress will continue to cause concern for the industry.
Emerging companies continue to have a bigger role in pushing biotech innovation, and their presence is more important than ever, given the race for a COVID-19 solution. Those companies’ role in global R&D and new drug approvals was stressed by experts at the current BIO Asia-Taiwan conference.
NEW DELHI – Bangalore-based Biocon Ltd. has received the Indian drug regulator's approval for restricted emergency use of its psoriasis biologic, itolizumab, to treat patients with severe cases of COVID-19 in need of ventilator support.
HONG KONG – China and U.S.-based pharmaceutical company Antengene Corp. has closed a $97 million series C financing round, with proceeds mainly directed toward funding the continuing clinical development of its pipeline of hematology and oncology therapies.
HONG KONG – Shanghai-based I-Mab Biopharma Co. Ltd. expects to begin clinical trials for the world’s first and only claudin18.2 and 4-1BB bispecific program in a year. "We expect the trial to start in U.S. in the [middle of] next year. We will then expand the trial to China afterwards as planned," Joan Shen, CEO of I-Mab, told BioWorld.
HONG KONG – Osaka, Japan-based Shionogi & Co Ltd. continues to make global inroads with its influenza treatment, Xofluza (baloxavir marboxil), submitting supplemental new drug applications in Japan and Taiwan for a post-exposure prophylaxis indication on the back of positive results from its phase III trials.