Wuxi Biologics (Cayman) Inc. is providing an exclusive license to GSK plc for a preclinical bispecific T-cell engaging antibody along with the option of three additional bi- and multispecific TCE antibodies developed by Wuxi. In exchange, Wuxi will receive an up-front payment of $40 million and up to $1.46 billion in additional payments for research, development, regulatory and commercial milestones across the four TCE antibodies. Wuxi Biologics, of Shanghai, is also eligible to receive tiered royalties on net sales.
Suzhou Singular Medical Co. Ltd. has raised “hundreds of millions of RMB” in a series B+ round financing, which was jointly led by SDIC Chuanghe Fund Management Co. Ltd. and Qiming Venture Capital Management (Beijing) Co. Ltd.
Baili Biopharmaceutical Co. Ltd. has raised ¥990.47 million (US$146 million) on the Shanghai STAR Market. Its shares opened Jan. 6 at ¥28.75 apiece, surging over 30% its first trading day, and closing at ¥38.40 on Jan.9.
Skynor Medical (Shanghai) Co. Ltd. has raised ¥100 million (US$15 million) in a financing round to step up its efforts in product development and market expansion. More specifically, the Shanghai-based company intends to use the funds to develop its interventional treatment solutions for neuro and peripheral vascular diseases, as well as expand them to markets at home and abroad.
Raynovent Biotech Co. Ltd. has raised ¥370 million (US$54 million) in a series C round to further develop candidates in the field of respiratory and metabolic diseases. Funds will be used to accelerate clinical trials of lead candidates in its pipeline, as well as to prepare for the commercialization of oral pills to treat COVID-19 and influenza A virus.
Hightide Therapeutics Inc. closed a $107 million series C round that will advance multiple global development programs for lead candidate HTD-1801, including a phase III trial in type 2 diabetes.
China has adjusted the tariff lines and rates for 37 medical devices, including surgical robots, in its newly released Import and export tax rules of the PRC (2023).
Wuxi Biologics (Cayman) Inc. is providing an exclusive license to GSK plc for a preclinical bispecific T-cell engaging antibody along with the option of three additional bi- and multispecific TCE antibodies developed by Wuxi. In exchange, Wuxi will receive an up-front payment of $40 million and up to $1.46 billion in additional payments for research, development, regulatory and commercial milestones across the four TCE antibodies. Wuxi Biologics, of Shanghai, is also eligible to receive tiered royalties on net sales.
Sonoscape Medical Corp. obtained marketing approval in China for its intravascular ultrasound (IVUS) diagnostic device and intravascular ultrasound diagnostic catheter.
China’s NMPA has approved Merck & Co. Inc.’s COVID-19 treatment molnupiravir for emergency use to combat the increasing number of cases in the country.
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