Antimicrobial-focused Tennor Therapeutics Ltd. will debut in Hong Kong May 22, having priced a HK$626.84 million (US$80 million) IPO. The Suzhou, China-based biotech is waiting on China’s National Medical Products Administration approval of lead asset rifasutenizol (TNP-2198), which has potential to become the first targeted combination regimen to treat H. pylori infection.
Degron Therapeutics Inc. closed a $40 million series A extension round that will see the company advance its molecular glue degraders targeting previously undruggable or insufficiently drugged proteins.
The recent multibillion-dollar licensing alliance between Bristol Myers Squibb Co. and Jiangsu Hengrui Pharmaceuticals Co. Ltd is not an outlier, but rather the clearest sign yet that China’s biotech industry has entered a new phase of global influence.
