Citing recent events that highlighted the risks of investing in companies based in China or that have the majority of their operations there, the U.S. SEC’s Division of Corporation Finance is seeking more specific disclosures from those companies about the legal and operational risks of investing in their securities.
Obi Pharma Inc. has acquired global rights to BSI-04702, an anti-trophoblast antigen 2 (Trop2) humanized monoclonal antibody (MAb), from Biosion Inc. Obi is granted exclusive rights for further preclinical and clinical development, registration and commercialization of the candidate as an antibody-drug conjugate and other derivative products.
China is making some advances in approving and reimbursing drugs to treat or prevent rare diseases. More than 60 rare disease drugs have been approved for marketing in China, with more than 40 of those included in the national medical insurance system, according to figures released at a national conference on rare diseases held in Beijing Dec. 18.
Qilu Pharmaceutical Co. Ltd. licensed rights to AB-729, an RNA interference (RNAi) therapeutic from Arbutus Biopharma Corp., in a deal worth up to $300 million. Qilu obtained rights to develop and commercialize the phase II asset for the treatment of hepatitis B (HBV) in mainland China, Hong Kong, Macau, and Taiwan. Under terms of the agreement, Qilu will pay Arbutus $40 million up front, as well as up to $245 million in development, regulatory and sales milestones. In addition, Qilu will make a $15 million equity investment in Arbutus at a price of $4.19 per share.
Beigene Ltd.’s listing on the Shanghai STAR Market netted ¥22 million ($3.4 billion) as the company became making it the first biotech firm to be listed on Nasdaq, the Hong Kong Stock Exchange, and the Shanghai STAR Market. But Shanghai shares, initially priced at ¥192.6 each, fizzled quickly, plunging over 16.4% by market close to ¥160.98 on Dec. 15.
Novartis AG has forged even stronger links with Beigene Ltd., taking an option on the latter’s late-stage TIGIT inhibitor cancer immunotherapy ociperlimab in a deal worth up to $1 billion.
China is making some advances in approving and reimbursing drugs to treat or prevent rare diseases. More than 60 rare disease drugs have been approved for marketing in China, with more than 40 of those included in the national medical insurance system, according to figures released at a national conference on rare diseases held in Beijing Dec. 18.
Novartis AG has forged even stronger links with Beigene Ltd., taking an option on the latter’s late-stage TIGIT inhibitor cancer immunotherapy ociperlimab in a deal worth up to $1 billion. Basel, Switzerland-based Novartis will pay the Beijing-based pharma $300 million up front in the option, collaboration and license agreement plus up to $700 million if it exercises its option before late 2023.
An international collaborative study led by Chinese researchers at Wuhan University is the first to have discovered a new small molecule, termed IMA-1, and shown it to be safe and effective for the treatment of nonalcoholic steatohepatitis (NASH) in mouse and macaque models.
Beigene Ltd.’s listing on the Shanghai STAR Market netted ¥22 million ($3.4 billion) as the company became making it the first biotech firm to be listed on Nasdaq, the Hong Kong Stock Exchange, and the Shanghai STAR Market. But Shanghai shares, initially priced at ¥192.6 each, fizzled quickly, plunging over 16.4% by market close to ¥160.98.
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