HONG KONG – Shanghai Junshi Biosciences Ltd. (HKG:1877) made a strong debut on the Hong Kong Stock Exchange, helped by China's first marketing approval of a homemade PD-1 monoclonal antibody last week. The biotech company's shares finished their first day of trading, on Dec. 24, up 22.55 percent to HK$23.75 (US$3.03). Read More
HONG KONG – Astellas Pharma Inc. proceeded with an exclusive option to acquire Potenza Therapeutics Inc. under a warrant purchase agreement. Tokyo-based Astellas paid Potenza an up-front fee of $164.6 million to acquire the Cambridge, Mass.-based biopharma. Upon closing, Potenza will be a wholly owned subsidiary. Shareholders of Potenza will be in for a windfall, as they are eligible for additional payments that total up to $240.1 million, depending on the progress of the various programs in clinical development. Read More
HONG KONG – I-Mab Biopharma (Shanghai) Co. Ltd. out-licensed China rights to its long-acting glucagon-like peptide-1 (GLP-1) Fc protein, known as TG-103, to treat diabetes to CSPC Pharmaceutical Group Co. Ltd. for ¥150 million (US$21.7 million). As part of the deal, CSPC paid ¥15 million up front to I-Mab to obtain the exclusive license and will pay another ¥135 million based on the development progress of TG-103 in China as well as royalties. Read More
PERTH, Australia – More money will be deployed in Australia's life sciences sector in the next four or five years than there has ever been, according to Australia's biggest life sciences investor. Brandon Capital Partners manages four life sciences funds with A$531 million (US$374.1 million) under management. Although it's the biggest venture fund in Australia, it's fairly small compared to some of its U.S. peers. Read More
PERTH, Australia – In yet another regional carve-out deal for Starpharma Holdings Ltd., the company has out-licensed rights to its Vivagel BV for bacterial vaginosis (BV) to ITF Pharma for the U.S. market for roughly $101 million. Read More
HONG KONG – China-based ophthalmology startup Ocumension Therapeutics Ltd. has inked a deal for potentially €36.25 million (US$41.35 million) to develop and commercialize French counterpart Nicox SA's NCX-470 in the Chinese mainland, Hong Kong, Macau and Taiwan. NCX-470 is a monoclonal antibody (MAb) for treating open-angle glaucoma and ocular hypertension. Read More
Immutep Ltd., of Sydney, said it entered into a securities purchase agreement with certain accredited investors who will purchase 260 million ordinary shares represented by 2.6 million American depositary shares (ADS) at $2 each in a registered direct offering, for gross proceeds of approximately $5.2 million (A$7.2 million). In a concurrent private placement, the company has agreed to issue warrants to purchase up to 208 million ordinary shares represented by 2.08 million ADSs. Read More
