China’s National Medical Products Administration (NMPA) established new medical device regulations earlier in the year aimed at spurring innovation and creating regulatory incentives, and although the regulation has shortened review and approval timelines, other benefits are less clear, experts said.
JW Therapeutics Co. Ltd. has formed a partnership with 2seventy Bio Inc. to launch a translational and clinical cell therapy development program for the development of T cell-based immunotherapies in mainland China, Hong Kong and Macao.
Ariemedi Medical Technology (Beijing) Co. Ltd. has completed a series A+ round to further develop its medical devices for minimally invasive surgeries. The round was co-invested by Haining Hairui Investment Management Co. Ltd. and Haier Capital.
The potential for psychedelics to deliver long-lasting benefits for people with anxiety, depression, post-traumatic stress disorder and addiction is being put to the test in Australia, where new research and discovery centers are adding to a global enterprise of nearly 100 clinical trials underway in the space.
South Korea’s regenerative medicine market is expected to grow from $51 million in 2016 to $320 million by 2026, growing at a compound annual growth rate of 20%, So Ra Park, chair and founder of Korea’s Regenerative Medicine Acceleration Foundation said during the Ausbiotech 2022 conference in Perth, Australia, running Oct. 26 to 28.
Jiangsu Cowin Biotech Co. Ltd. has raised ¥1.14 billion (US$156 million) in a listing on the Shanghai STAR Market. Its shares opened at ¥42.96 apiece, plunged over 13% by the middle of the day but closed at ¥43.62 on the first trading day on Oct. 25.
Sumitovant Biopharma Ltd., a subsidiary of Sumitomo Pharma Co. Ltd., agreed to acquire Myovant Sciences Ltd. for $27 per share, up from its earlier offer of $22.75 per share. The deal is worth $1.7 billion on a fully diluted basis, with an equity value of about $2.59 billion.
Celltrion Healthcare Inc. has signed a deal with Pinotbio Inc. to develop antibody-drug conjugates (ADCs) for up to 15 separate cancer targets incorporating the linker-payload platform technology Pinot-ADC. Celltrion could pay Pinotbio as much as ₩1.77 trillion (US$1.24 billion) to exercise options for all 15 targets in the collaboration. But, for starters, it will pay Pinotbio ₩1 billion up front.
Nousq Pte Ltd. has been declared the winner of the 2022 Asia Pacific Accelerator program with its pediatric ear tube insertion device. Singapore-based Nousq’s victory was determined by a live audience vote on during the Medtech Innovator Asia Pacific 2022 Grand Finals, organized by medical device accelerator Medtech Innovator and the Asia Pacific Medical Technology Association (APACMed).
Sumitovant Biopharma Ltd., a subsidiary of Sumitomo Pharma Co. Ltd., agreed to acquire Myovant Sciences Ltd. for $27 per share, up from its earlier offer of $22.75 per share, which Myovant had rebuffed. The deal is worth $1.7 billion on a fully diluted basis, with an equity value of about $2.59 billion.
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