Inventisbio Co. Ltd. has raised ¥2.084 billion (US$296 million) in an IPO on Shanghai’s STAR Market priced at ¥18.12 per share, though its stock saw a disappointing debut, opening at ¥14 per share on the first trading day July 25 and closing at $15.29, for a drop of 15.6%. The stock closed Aug. 1 at ¥14.42.
Robocath SAS said Cathbot, its joint venture set up in 2020, has enrolled the final patient for its clinical study in China to evaluate the safety and the efficacy of its robotic platform for percutaneous coronary intervention (PCI). “The completion of our PCI robotic multicenter trial in China is a crucial milestone in our development in this part of the world,” Philippe Bencteux, president and founder of Robocath, told BioWorld.
Elevation Oncology Inc. has picked up the global rights to SYSA-1801, an anti-Claudin 18.2 antibody-drug conjugate (ADC) candidate, from CSPC Megalith Biopharmaceutical Co. Ltd. in a deal worth up to $1.195 billion. Under the terms, Elevation gets rights to develop and commercialize SYSA-1801 outside of mainland China, Hong Kong, Macau and Taiwan.
Genuine Biotech Co. Ltd.’s azvudine has been granted conditional approval by China’s NMPA for the treatment of COVID-19. The drug, first granted conditional approval from the NMPA to treat HIV-1-infected adults with high viral loads in July 2021, is the first domestically developed oral medicine approved to treat COVID-19 in China and was approved just 10 days after its application was submitted on July 15.
Sichuan Kelun-Biotech Pharmaceutical Co. Ltd. out-licensed an investigational antibody-drug conjugate (ADC) for the treatment of solid tumors to Merck & Co. Inc. in a deal worth up to $936 million. Sichuan, China-based Kelun-Biotech will receive $35 million up front in the deal and is eligible to receive up to $901 million in future development, approval and commercial milestone payments, as well as tiered royalties on net sales.
Neurofront Therapeutics Ltd. has picked up an option to acquire exclusive Asia rights to a phase II non-opioid drug from Novaremed AG. Under terms of the deal, Novaremed is eligible to receive more than $130 million in option and exercise fees as well as development, regulatory and sales milestone payments plus royalties on net sales.
Convalife Pharmaceuticals Co. Ltd. acquired global rights to develop and commercialize a phosphoinositide 3-kinase (PI3K) β/δ inhibitor from Karus Therapeutics Ltd.
Frontera Therapeutics Inc. raised $160 million in a series B funding round to develop its lead gene therapy product candidate for retinal disease, FT-001, for which INDs have been approved by the U.S. FDA and China NMPA.
Frontera Therapeutics Inc. raised $160 million in a series B funding round to develop its lead gene therapy product candidate for retinal disease, FT-001, for which INDs have been approved by the U.S. FDA and China NMPA.
Convalife Pharmaceuticals Co. Ltd. acquired global rights to develop and commercialize a phosphoinositide 3-kinase (PI3K) β/δ inhibitor from Karus Therapeutics Ltd.
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