Shanghai Fosun Pharmaceutical Co. Ltd has formed a partnership with seven other investors to form an investment fund partnership that plans to invest ¥5 billion (US$695M) in local biotech and med-tech companies in Shenzhen, China. The target fund will concentrate on local biotechs, including cell and gene therapy companies, as well as other industries, with 70% to be invested in the biomedical industry.
China’s Pegbio Co. Ltd. is planning a Hong Kong IPO to advance PB-119, its main glucagon-like peptide 1 receptor agonist for diabetes nearing domestic approval, as it hopes to transition to an operating profit.
As geopolitical tensions mount, bipartisan legislation introduced in both the U.S. Senate and the House is calling to prohibit government contracts with certain Chinese biotechs such as BGI (formerly known as Beijing Genomic Institute) and Wuxi Apptec, because they are increasingly seen as national security threats.
Foreign investment in China’s biopharma sector is beginning to pick up after the hit of severe pandemic restrictions, and as Western governments look to revive trading relationships following a spate of diplomatic rows.
Simcere Zaiming, a subsidiary of Simcere Pharmaceutical Group Ltd., has received approval from the FDA and China’s National Medical Products Administration (NMPA) to conduct clinical trials with SIM-0500 in patients with relapsed or refractory multiple myeloma.
Superhuman soldiers. Designer babies. Genetically tailored weapons. Mind-control. A foreign database containing the DNA of every person on the planet. The list reads like the plot of a science fiction horror story, but there’s no fiction involved. These are real threats from China raised by members of the U.S. House Select Committee on the CCP (Chinese Communist Party) at a March 7 hearing on the growing stakes of the bioeconomy and American national security.
As geopolitical tensions mount, bipartisan legislation introduced in both the U.S. Senate and the House is calling to prohibit government contracts with certain Chinese biotechs such as BGI (formerly known as Beijing Genomic Institute) and Wuxi Apptec, because they are increasingly seen as national security threats.
Foreign investment in China’s biopharma sector is beginning to pick up after the hit of severe pandemic restrictions, and as Western governments look to revive trading relationships following a spate of diplomatic rows. While the geopolitical tensions remain, the mantra from Europe is not to de-couple, but to de-risk. Following a policy review in 2023, the U.K. government position is that a positive two-way trade and investment relationship with China is “mutually beneficial.”
China’s NMPA has approved Carsgen Therapeutics Holdings Ltd.’s NDA for its B-cell maturation antigen (BCMA)-targeted CAR T-cell therapy, zevorcabtagene autoleucel (CT-053, zevor-cel), for treating adults with relapsed or refractory (r/r) multiple myeloma (MM) who have progressed after at least three prior lines of therapy, including a proteasome inhibitor and immunomodulatory agent.
China’s National Medical Products Administration (NMPA) cleared 40 novel innovative drugs in 2023, of which nearly half were cancer therapies, marking a significant increase from the 21 new class 1 drugs approved in 2022.
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