New drug approvals, financings and deals were seen across the Asia-Pacific biotech sector this week, with China’s National Medical Products Administration (NMPA) granting clearances to Takeda Pharmaceutical Co. Ltd.’s oral orexin receptor 2 agonist oveporexton for narcolepsy, as well as Haisco Pharmaceutical Group’s ciprocopan (HSK-39297) for paroxysmal nocturnal hemoglobinuria.
Continuing the year’s strong IPO activity, Scribe Therapeutics Inc. priced an upsized offering at the high end of its price range, offering 8.6 million shares at $15 apiece for gross proceeds of about $129 million. The company, which is developing CRISPR-based therapies targeting cardiovascular and metabolic diseases, began trading on Nasdaq under the ticker SCTX, with shares getting a warm welcome, opening at $25 and ending the day at $21.65, up 44.3%.
Biopharma and med-tech companies raising money in public or private financings, including: Crystalys, Dyne, Mentari, Neurimmune, N-Zyme, Royalty, Tikva.
Total med-tech financing through the first half (H1) of 2026 reached $12.66 billion, down from 2025’s $17.56 billion but in line with 2024’s $13.94 billion over the same period.
Axiom Biosciences, rebranded from Cytonus Therapeutics Inc. in June 2026, plans to be one of the first U.S. biotechs to IPO on the main board of The Stock Exchange of Hong Kong. The San Diego-based company is preparing audits as the first step to a potential IPO in 2027.
Biopharma financing activity through the first two quarters of 2026 totaled $60.14 billion, the strongest first-half (H1) showing since 2024’s $70.32 billion and well above 2025’s $29.53 billion over the same period. The second quarter (Q2) of 2026 was particularly strong at $34.69 billion, the highest single quarter since Q1 2024’s $47.25 billion. Q1 came in at $25.45 billion, more than double 2025’s Q1 figure of $13.12 billion.
An increase in the level of M&A activity and some sizeable financing rounds are encouraging signs for the med-tech investment environment, said Joey Mason, life sciences venture partner at Claret Capital Partners. He pointed to Medtronic plc’s acquisition of SPR Therapeutics Inc., and Neurent Medical Ltd.’s large fundraise earlier in the year, as evidence of the improving sentiment.
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