Alebund Pharmaceuticals (Jiangsu) Ltd. was the third Chinese biotech company to debut in Hong Kong this month, with June IPO proceeds from Alebund, Longbio Pharma Co. Ltd. and Shaanxi Micot Pharmaceutical Technology Co. Ltd. totaling about HK$4.7 billion (US$600 million).
Alebund Pharmaceuticals (Jiangsu) Ltd. was the third Chinese biotech company to debut in Hong Kong this month, with June IPO proceeds from Alebund, Longbio Pharma Co. Ltd. and Shaanxi Micot Pharmaceutical Technology Co. Ltd. totaling about HK$4.7 billion (US$600 million).
A U.S. biotechnology company founded by Deerfield Management Company L.P. licensed exclusive rights to Metis Techbio Co. Ltd.’s preclinical trispecific T-cell engager (TCE) for autoimmune disorders in a potential $1.62 billion deal.
Metis Techbio Co. Ltd. is seeking a potential HK$2.11 billion (US$270 million) raise through a stock sale May 13, marking the largest biotech raise on the Hong Kong Stock Exchange this year to date. Hangzhou, China-based Metis is an AI-based nanoparticle drug formulation and delivery-focused company. Synthetic lethality-based cancer drugmaker Impact Therapeutics Inc., of Shanghai, plans to debut on the same day with a US$117 million IPO.
Bispecific T-cell engagers (TCEs) aim to combat cancer by simultaneously binding T cells and tumor cells in order to induce the first to kill the second. This approach has failed to work effectively against many solid tumors because the exogenous engager proteins do not penetrate into tumors at sufficiently high concentrations.
Based on positive phase III study results, Metis Techbio is planning to file an NDA for its AI-derived orally disintegrating tablet drug candidate for pseudobulbar affect, MTS-004, in China next year.
Based on positive phase III study results, Metis Techbio is planning to file an NDA for its AI-derived orally disintegrating tablet drug candidate for pseudobulbar affect, MTS-004, in China next year.
