BEIJING – Androgen receptor (AR)-related disease specialist Kintor Pharmaceutical Ltd., of Suzhou, China, raised $240 million on the Hong Kong Stock Exchange (HKEX) on May 22 by issuing 92.3 million shares at HK$20.15 apiece. The IPO was oversubscribed by 551 times, showing the city’s biotech fever.
HONG KONG – South Korean conglomerate SK Group is preparing to list its subsidiary, SK Biopharmaceuticals Co. Ltd., on the Stock Market Division of the Korea Exchange.
HONG KONG – Blockchain technology usually is associated with digital currencies. However, it’s now emerging as an important platform for COVID-19 management. It’s been a focus in China, where a top-down approach is key to driving sectors and technology.
DUBLIN – Affibody AB is getting $10 million up front and up to $215.5 million in regulatory and sales milestones from a licensing deal with Inmagene Biopharmaceuticals Co. Ltd., in which the latter firm gains commercial rights to its interleukin-17 inhibitor ABY-035 in China, Hong Kong, Taiwan, Macau and South Korea.
HONG KONG – South Korea’s Bridge Biotherapeutics Inc. wrapped up the week by announcing its awaited IND clearance for its epidermal growth factor receptor tyrosine kinase inhibitor, BBT-176, for non-small-cell lung cancer.
HONG KONG – South Korea’s Hanmi Pharmaceutical Co. Ltd. has filed a new drug approval application for Rolontis (eflapegrastim) with the country’s Ministry of Food and Drug Safety (MDFS).
HONG KONG – The South Korean Ministry of Health and Welfare (MHW) is seeking a manager for its new ₩100 billion (US$81.63 million) private equity fund, which aims to help domestic biotech and medical device companies expand into overseas markets.
Leo Pharma A/S, of Ballerup, Denmark, has eyed a stronger company presence in Asia during the past year and took a giant step to achieving it by signing a worldwide exclusive licensing agreement with Oneness Biotech Co. Ltd., of Taipei, Taiwan, and Microbio Shanghai Co. Ltd. to develop and commercialize FB-825 for treating atopic dermatitis and allergic asthma.
BEIJING – After its masks and test kits were said to be sent back by Western countries due to complaints over poor quality, China this week required only NMPA-approved companies export their products and stepped up regulations to ensure quality.
HONG KONG – South Korea’s Osang Healthcare Co. Ltd. became the first Korean company to receive the U.S. FDA’s emergency use authorization (EUA) for its COVID-19 test kit.
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