Five life science firms from the U.S., Asia and Germany have banded together to launch a Singapore biotech “incubator” called 65LAB in hopes of finding, funding and accelerating promising research from Singapore’s leading academic institutions to commercialization.

Cancer biotech Adlai Nortye Ltd. raised $57.5 million from its U.S. IPO on Nasdaq and $40 million from a concurrent private placement, ringing up $97.5 million in funding to develop its combo immunotherapy pipeline.

Biopharmas in Asia-Pacific raising money in public or private financings: Lynk, Fosun, Verimmune.

Raising capital has always been a challenge for small to medium biotech firms worldwide, but the economic whiplash and the wider downturn across international markets post-pandemic have pushed Chinese biotechs to make-it-or-break-it scenarios for crossing the IPO threshold, speakers at the Chinabio Partnering Forum 2023 said in Shanghai.

Wuhan YZY Biopharma Co. Ltd. made its debut on the Hong Kong Stock Exchange, raising HK$121 million (US$15.48 million) in its IPO on Sept. 22, with shares (HKEX:02496) opening at the lower end of its range at HK$16 per share and ending the day at HK$16.60, a rise of 3.75%.

Biopharmas in Asia-Pacific raising money in public or private financings: Brim, Recce.

Biopharmas in Asia-Pacific raising money in public or private financings: Aptose, Grit, Hanmi, Jiangsu Nhwa, Trevena.

Biopharmas in Asia-Pacific raising money in public or private financings: Epigenic, Innovac.

Biopharmas in Asia-Pacific raising money in public or private financings: Opthea.