BEIJING – Zhongshan-based Akeso Inc., which focuses on bispecific antibodies, is again seeking pre-revenue listing on the Hong Kong Stock Exchange (HKEX), after its first IPO attempt failed to go through in December. The move comes at a time when analysts believe the coronavirus outbreak is weighing on the city’s IPO market. The second application, submitted on Feb. 3, was again supported by Morgan Stanley and J.P. Morgan. The clinical-stage biotech is reportedly seeking $300 million to support its R&D through the IPO, particularly its core asset, AK-104, a PD-1/CTLA4 bispecific antibody.
HONG KONG – In another example that communication is proving as difficult as containment in the current coronavirus outbreak, China’s state media reported, to increasing skepticism, that a traditional Chinese medicine (TCM) oral liquid could inhibit the new coronavirus.
HONG KONG – As drug developers are racing to find a cure for the new coronavirus, researchers in Hong Kong claim to have made major headway in the development of a vaccine for the virus that has so far killed 132. Yuen Kwok-yung, the chair of infectious diseases at the University of Hong Kong’s (HKU) department of microbiology, said in a press briefing at Hong Kong’s Queen Mary Hospital that his team had successfully isolated the novel virus from the first imported case in Hong Kong. But he said the vaccine still needs months to be tested on animals and an additional year for human trials before it is fit for use.
BEIJING – China will kickstart a phase III trial Feb. 3 to determine whether patients with 2019-nCoV can be treated with Gilead Sciences Inc.’s NUC inhibitor, remdesivir, which was originally developed for Ebola, four days after a U.S. patient was said to have recovered by using the drug candidate.
HONG KONG and BEIJING – Not just multinational players but domestic Chinese pharmaceutical companies are poised to benefit from China’s promise under a phase one trade deal with the U.S. to better protect intellectual property (IP), even if question marks remain around how the deal will be enforced. The move is in line with China's ambition to strengthen IP rights protection and upgrade the approach to innovation of its pharmaceutical and biotech industries.
LONDON – After a second day of deliberation, the World Health Organization (WHO) held off declaring that the novel coronavirus infection raging in Wuhan is an international health emergency, saying the low number of cases outside China means it is not time to escalate the response to this level.
Time will tell whether what the Trump administration is calling a “historic” and “landmark” trade agreement with China will better enable drug and device companies to more fairly compete in the Chinese market without having to sacrifice their intellectual property (IP) and technology.
China announced Jan. 17 which further pharmaceutical companies it will buy from under its centralized procurement program that seeks the lowest prices. The price war has forced foreign players to revalue the Chinese market and prompted Chinese players to come up with survival strategies under a policy that aims to consolidate the industry.
SAN FRANCISCO – Pacing the stage at this year's China Showcase Saturday, Chinabio CEO Greg Scott sounded a touch disappointed. Last year lacked the kind of record-breaking stats he likes to punctuate with iconic explosions, a common image in his widely valued China health care talks. "Simply stated, business is continuing as normal," he said.
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