HONG KONG – Olix Pharmaceuticals Inc. has entered an extensive research collaboration to test its RNAi therapeutic, OLX-104C, with Fimanac, PCI Biotech Holding ASA’s delivery technology for nucleic acid-based therapies, with the aim of reducing off-target effects while treating androgenic alopecia, or hair loss.
Shenzhen Pregene Biopharma Co. Ltd. has outlicensed its internally developed anti-BCMA CAR T-cell therapy candidate, PRG-1801, to Indian pharma giant Dr. Reddy's Laboratories Ltd. in a $162.5 million deal to develop and commercialize it in India. The candidate, which is being developed by Pregene to treat relapsed/refractory multiple myeloma, is now in a phase I trial in China after anIND approval in March 2020.
HONG KONG – South Korea’s securities exchange operator, Korea Exchange Inc., has relaxed the procedure for tech companies, including biopharma firms, to list on its KOSDAQ board. Under the simplified listing standard, which came into effect on April 26, companies with a market capitalization of ₩500 billion (US$449.26 million) and above will now need to submit only one assessment, with a result of “A” or higher, from a professional evaluation agency.
HONG KONG – Qilu Pharmaceutical Ltd. has inked a deal for the global rights to Peptron Inc.’s antibody-drug conjugate (ADC) candidate PAb-001-ADC for the treatment of various cancers. Seoul, South Korea-based Peptron stands to receive an up-front payment of $3 million and $539 million in milestone payments, as well as royalties.
HONG KONG – Pharmcadd Co. Ltd., a developer of an artificial intelligence (AI) and physics-based drug discovery platform, bagged ₩17.3 billion (US$15.5 million) in its series B funding. This brings the total funds raised since its establishment to $22 million.
Cross-border startup Scineuro Pharmaceuticals Ltd., which focuses on central nervous system (CNS) diseases, inked a deal with Eli Lilly and Co. to license in the greater China rights of alpha-synuclein-targeted antibody therapies to follow the global drug development trend in this space.
HONG KONG – Beijing Stonewise Technology Co. Ltd., a med-tech firm that uses artificial intelligence (AI) to aid in the discovery of small molecule drugs, closed series B and B+ financing rounds that added $100 million to its pocket. The company intends to use the proceeds to upgrade its AI-enabled drug discovery platform.
HONG KONG – Laboring under the burden of a new wave of COVID-19 infections that have raised its case total to 15.3 million, second only to the U.S., India is ramping up its vaccination efforts by opening up COVID-19 vaccine availability to citizens 18 years or older from May 1, according to the Ministry of Health and Family Welfare. However, ensuring a steady vaccine supply for the world's second most populous country, with nearly 1.4 billion people, might prove to be an issue. So far, India has administered just over 124 million COVID-19 vaccine doses.
With shortages of the COVID-19 drug, remdesivir, being reported in several states in India, the country’s Central Drugs Standard Control Organization is calling on state regulators to “immediately initiate remedial action to ensure supply of remdesivir injection to public and private hospitals.”
Speaking during the 2021 China Pharmaceutical Innovation 100 Summit, industry insiders called for more regulatory talent and even an organizational revamp to clear innovative products faster and support the global development strategies of Chinese drugmakers.