HONG KONG – Chinese drug regulators have approved the first homegrown biosimilar, Shanghai Henlius Biotech Inc.'s HLX-01, a biosimilar referencing Roche Holding AG's Mabthera (rituximab), to treat non-Hodgkin lymphoma (NHL). It will be marketed as Hanlikang. Read More
HONG KONG – Chinese drugmakers have gotten a boost in the wake of the Chinese government's announcement to cut the value-added tax (VAT) on treatments for a range of rare diseases, in the country's latest move to overhaul its health care system and expand access to better-quality and cheaper drugs. Read More
SHANGHAI – Gracell Biotechnologies Co. Ltd., of Suzhou and Shanghai, has received an $85 million endorsement from topflight venture investors active in China's biotech scene led by Singapore's Temasek with Lilly Asia Ventures, and joined by Kington Capital, King Star Capital and Chengdu Miaoji. Read More
HONG KONG – Clinical-stage biotech Guangzhou Magpie Pharmaceutical Inc. closed a series B financing round and raised nearly ¥100 million (US$14.8 million) to move its first-in-class core asset for the treatment of ischemic stroke and other drug candidates further into the clinic. Sangel Capital is backing the round on its own. Read More
HONG KONG – Chinese cancer diagnosis firm Burning Rock Biotech has closed a series C financing round, pocketing ¥850 million (US$125.5 million). The company said the funds will help it step up its game in cancer genetic testing in China, especially with technology under development that enables early cancer detection. Read More
HONG KONG – Japan's Hitachi Chemical Co. Ltd. plans to acquire the entire share float of Apceth Biopharma GmbH, a contract manufacturing organization (CMO), spending about €75.5 million or ¥9.4 billion (US$85.2 million) on the German company's stock. Read More
