HONG KONG – Galmed Pharmaceuticals Ltd. has struck an agreement with Ascletis Pharma Inc.’s Gannex arm to develop a combination therapy comprising Ascletis’ ASC-41 and Galmed’s Aramchol (arachidyl amido cholanoic acid) for nonalcoholic steatohepatitis (NASH).
BEIJING – Biologics developer Genor Biopharma Co. Ltd. raised HK$2.69 billion (US$347 million) via a pre-revenue IPO on the Hong Kong Stock Exchange on Oct. 7, with shares (HKEX:6998) trading 16.25% higher to close at HK$27.95.
BEIJING – Three-year-old startup Everest Medicines Ltd. (1952.HK) sold 63 million shares at HK$55 apiece to raise HK$3.49 billion (US$451 million) on the Hong Kong Stock Exchange on Oct 9. Shares were oversubscribed by 654 times in Hong Kong.
HONG KONG – Xi’an, China-based Yufan Biotechnologies Co. Ltd. has partnered with Pittsburgh-based Abound Bio Inc. to discover and develop antibodies directing CAR T cells against cancer targets.
In a valuable new deal for Cstone Pharmaceuticals Co. Ltd., Pfizer Inc. is taking a 9.9% stake in the company and licensing exclusive rights to commercialize its lead asset, the anti-PD-L1 antibody sugemalimab, in mainland China.
HONG KONG – Shanghai-headquartered Inventisbio Inc. brought in $147 million from a series D funding round to move its main products into phase II trials in the U.S. and China.
HONG KONG – New data from Beigene Ltd. recently presented at the ESMO Virtual Congress 2020 showed its PARP inhibitor pamiparib helped shrink tumors in almost 65% of people with platinum-sensitive ovarian cancer treated with the candidate during a pivotal trial.
HONG KONG – Chinese biotech companies, long in-licensors of innovative biopharma assets for the region, have started to reverse the flow by out-licensing domestically generated candidates to global players. The changing tide signals China’s innovation in the life sciences is bearing fruit. But the country’s efforts isn’t without complication, shadowed now by tense relations with the U.S.
BEIJING – Canbridge Pharmaceuticals Inc. last week won marketing approval in China for its first rare disease drug, the mucopolysaccharidosis II therapy Hunterase (idursulfase beta injection).
HONG KONG – Legend Biotech Corp. head Frank Fangliang Zhang has come under investigation by mainland Chinese law enforcement in relation to suspected violations of Chinese import and export regulations, the company said.
RSS
