Frontera Therapeutics Inc. raised $160 million in a series B funding round to develop its lead gene therapy product candidate for retinal disease, FT-001, for which INDs have been approved by the U.S. FDA and China NMPA.

Qiming Venture Partners has closed funds worth a total $3.2 billion for health care-related investments, with funds spread across the five areas of biopharmaceuticals, med tech, diagnostics, health care services and IT.

Precision Autoimmune Therapeutics Co. Ltd. has raised ¥140 million (US$21 million) in its first financing round to speed up its pipeline development and improve its drug development platform. Emerging Technology Partners LLC, Redhill Capital and CASI Pharmaceuticals Inc. participated in the round.

Helixon Ltd. raised ¥500 million (US$75 million) in a series A round for its artificial intelligence (AI) drug development platform. The Beijing-based company is building a next-generation AI computing platform by combining it with self-developed high-throughput experimental technologies, aiming to provide drug developers with an intelligent system for molecular computation, simulation and design.

Tessa Therapeutics Ltd. has a closed a $126 million series A financing round to advance its ongoing clinical development, which includes the initiation of a pivotal trial of autologous CD30-CAR-T therapy (TT-11) and advancement of allogeneic CD30.CAR EBVST therapy (TT-11X) programs.

A tightening of rules for biotech listings on the Shanghai STAR Market may have contributed to a visible cool-down in biotech IPOs, with fewer listings in Chinese stock markets in the first half of 2022.