Bayer AG’s copanlisib was approved in China for the treatment of adult patients with relapsed follicular lymphoma who have received at least two prior systemic therapies. It is the first indication approved in the country for copanlisib, which is entering a market with room to grow but marked by some domestic competition.
Rona Therapeutics Co. Ltd. and Keymed Biosciences Co. Ltd. formed a collaboration to jointly discover and develop first-in-class siRNA therapeutics for glomerulonephritis, also known as severe kidney diseases.
Nanjing Sanhome Pharmaceutical Co. Ltd.’s Shengnuodi (alfosbuvir tablets), used as part of a combination treatment for hepatitis C, has been approved by China’s National Medical Products Administration (NMPA) through the priority review and approval procedure.
Coherent Biopharma Co. Ltd. raised $100 million in series B and B+ financing rounds to step up its efforts to develop its bi-targeting ligand-drug conjugate (Bi-XDC) drugs and get them to market. Suzhou, China-based Coherent plans to use its newly expanded war chest to support the clinical trials of three candidates, CBP-1008, CBP-1018 and CBP-1019, as well as an IND application for CBP-8008 in China and the U.S., the company told BioWorld.
Chance Pharmaceuticals Co. Ltd. acquired greater China rights to Inbrija (levodopa inhalation powder), used to manage Parkinson’s disease (PD), from Acorda Therapeutics Inc. in a deal worth as much as $140 million.
Hefei Tianhui Incubator of Technologies Co. Ltd. (HTIT)’s NDA for recombinant human insulin capsule ORMD-0801 for type 2 diabetes is under review by the NMPA and, if approved, is expected to be the first oral insulin available in China, where regulators have been on the lookout for new treatment options for the increasingly common disease.
In a deal worth as much as $600 million, Lanova Medicines Ltd. licensed exclusive global rights to Astrazeneca plc for LM-305, an antibody-drug conjugate (ADC) targeting GPRC5D, for multiple myeloma (MM). Lanova will receive up-front and near-term payments of up to $55 million and development and commercial milestone payments of up to $545 million, as well as tiered royalties on net sales worldwide.
Cellular Biomedicine Group Inc. (CBMG) licensed a pair of candidates for the treatment of non-Hodgkin lymphoma to Janssen Biotech Inc. for development outside of greater China. The candidates are anti-CD19 and CD20 bispecific CAR T-cell therapy C-CAR039 and anti-CD20 CAR T-cell therapy C-CAR066.
Beijing Luzhu Biotechnology Co. Ltd. raised a net HK$242 million (US$31 million) from an IPO in Hong Kong but shares in the developer of vaccines and therapeutics for infectious diseases, cancer and autoimmune diseases plummeted on the first day of trading. Luzhu’s shares (HK:2480) started trading on May 8 at HK$31.50 and fell about 30% throughout the day to close at HK$22. Founded in 2001, Luzhu has yet to turn a profit. It recorded net losses of ¥725.2 million (US$92 million) in 2022 and ¥539.4 million in 2021.