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Latest Biotechnology, Pharmaceutical and Healthcare News from ChinaBio Today

12:53 EDT 22nd July 2018 | BioPortfolio

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Showing News Articles 1–25 of 400 from ChinaBio Today

Sunday 22nd July 2018

Week in Review: Acletis Raising $457 Million in Hong Kong IPO at $2 Billion Valuation

Deals and Financings  Ascletis BioScience of Hangzhou will raise up to $457 million in its Hong Kong IPO this month to support its novel HCV treatments and other portfolio products; Shanghai Fosun Pharma is considering staging a $500 million IPO of Indian generic drug maker Gland Pharma, which Fosun acquired last year in a $1.1 million transaction; CanSino Biologics, a Tianjin vaccine compan...

Saturday 21st July 2018

Shanghai Fosun Pharma Considering $500 Million IPO of Gland Pharma

Shanghai Fosun Pharma is considering an IPO of one of its recent acquisitions, the Indian drugmaker Gland Pharma, according to a Bloomberg report. If it decides to move ahead on the transaction, Fosun would seek to raise $500 million in an initial offering on an Indian exchange. In 2017, Fosun paid $1.1 billion for 74% ownership of Gland, a company known for its generic injectable products. More d...

Laurel VC Acquires Asthma/COPD Technology; Will Form China Biopharma

Laurel Venture Capital, a Hangzhou life science VC, acquired global rights to novel asthma/COPD drug technology from Alpine Immune Sciences of Seattle. Laurel intends to form a China company to develop the technology. The agreement includes global rights to cavosonstat, Alpine's lead drug that is currently in a US Phase II trial. Laurel plans to expand the trial into a global test. Laurel will mak...

China Investors Lead $15.5 Million Round in Quantapore, a US Sequencing Co.

Northern Light Venture Capital, a China investor, led a $15.5 million C Series financing in Quantapore, a Silicon Valley company that is developing a novel nanopore genomic sequencing technology. Breaking out of stealth mode, Quantapore says its optical machines can sequence DNA rapidly and accurately at one-tenth the current cost. Tsingyuan Ventures and Sangel Venture Capital were also major inve...

Kolon Life Science to Export $207 Million of Gene Therapy Treatment to China's Hainan Province

South Korea’s Kolon Life Science signed a $207 million contract to export its osteoarthritis drug, Invossa-K, to China Life Medical Centre in Hainan Province. Invossa-K, the world’s first gene therapy treatment for osteoarthritis, was approved by Korea’s health authorities in July 2017. Hainan Province, an island off China

Friday 20th July 2018

Ascletis' Hong Kong IPO to Raise $457 Million at $2 Billion Valuation

Ascletis BioScience, the Hangzhou biopharma with a novel treatment for hepatitis C, may raise as much as $457 million in its upcoming Hong Kong IPO, a debut offering that values the company at $2 billion. Ascletis will be the first biotech to stage an IPO under Hong Kong's new pre-revenue IPO listing rules. The company plans to offer 224 million shares at between HK$12 and HK$16 each. Further, it ...

Thursday 19th July 2018

Shanghai Green Valley Reports Positive Results from Phase III Trial of Alzheimer's Drug

Shanghai Green Valley Pharma reported positive results from a China Phase III trial of its Alzheimer's treatment in patients with mild-to-moderate disease. The double-blinded 36-week trial met its primary endpoint, showing "significantly improved" scores on assessment scales, though the company did not disclose specific results. The drug, GV-971, is an oligosaccharide molecule extracted from seawe...

Tianjin Tasly in $24 Million Deal for EA Pharma Kidney Disease Drug

Tianjin Tasly Pharma signed a $24 million licensing agreement to acquire greater China rights for a kidney disease treatment being developed by Japan's EA Pharmaceutical. AJT-240 is aimed at a calcium disorder that occurs as a complication of end-stage renal impairment and hemodialysis. EA Pharma is currently conducting a Phase II trial of AJT-240 in Japan. Tasly will have the rights to develop, p...

Sinovant Formed with 11 China Drug Candidates and CITICPE Support

Sinovant Sciences of Shanghai, an offshoot of the Roivant group of biopharmas, broke from stealth mode by announcing its formation, a portfolio of eleven drug candidates for the China market and backing from CITICPE. In general, Roivant companies aim to reduce the time and cost of drug development, with each company formed around a specific goal. Earlier this year, Roivant in-licensed China rights...

CanSino Biologics Files for Hong Kong IPO

CanSino Biologics, a Tianjin vaccine company, has filed to conduct an IPO on the Hong Kong exchange, taking advantage of the exchange's new rules for pre-revenue biopharmas. CanSino is best known for its dry-powder vaccine for Ebola, which was approved last year. It is also working on novel vaccine candidates against TB, Cervical Cancer and Pneumococcal infection, along with pediatric combination ...

Wednesday 18th July 2018

Fosun Pharma to Invest $17.6 Million in EOS Imaging of France

Fosun Pharma announced it will make a $17.6 million investment into EOS Imaging of France. EOS concentrates on the orthopedic imaging market, making 2D/3D imaging devices that limit dosing for patient safety along with imaging and surgical planning software. After the investment, Fosun will own 13% of EOS, and it will help EOS expand its sales in China, the company's third largest market after the...

Tasly In-licenses Two Cell Therapy Treatments in $90 Million Deal

China's Tasly Pharma has in-licensed China rights to two heart drugs from Mesoblast of Australia in a $90 million agreement. Tasly will develop, manufacture and sell two Mesoblast allogeneic mesenchymal precursor cell (MPC) candidates: MPC-150-IM to treat or prevent chronic heart failure and MPC-25-IC to treat or prevent acute myocardial infarction. Tasly will pay $40 million upfront -- ...

Ascentage Closes $150 Million C Round to Develop Apoptosis Drugs

Ascentage Pharma of Shanghai closed a $150 million Series C financing to continue developing its portfolio of apoptosis therapies for cancer and other diseases. Ascentage, based on its small-molecule technology that targets protein-protein interactions, has developed seven candidates that are being tested in 16 clinical trials for cancer, hepatitis B and age-related diseases. The trials are being ...

Tuesday 17th July 2018

Lyvgen Biopharma Raises $30 Million for IO Drug Candidates

Lyvgen Biopharma of Shanghai raised $30 million in a B round that was led by 6 Dimensions Capital. Founded in 2016, Lyvgen uses its xLinkAb technology platform to discover immune-oncology candidates. Its early-stage antibody pipeline includes a PD-1 candidate that it has out-licensed to Anhui Anke Biotech along with a set of proprietary co-stimulation agonist antibodies that Lyvgen believes could ...

Monday 16th July 2018

Cyrcadia Asia Raises $3.8 Million for Breast Cancer Detection Device

Cyrcadia Asia, a Hong Kong medical device company, raised $3.8 million in a Pre-A round that was led by iFlytek. iFlytek is a prominent China AI/voice recognition company. Cyrcadia Asia is developing a wearable device that offers early diagnosis of breast cancer. The product, the iTBra™, consists of two patches worn in the bra for a minimum of two hours, once per month. The patches detect ci...

Saturday 14th July 2018

Week in Review: Tasly Biopharma Completes Pre-IPO Round at $1.9 Billion Valuation

Deals and Financings  Tasly Biopharma of Shanghai raised $84.5 million in new capital and paid $48 million in stock to buy out China JV partner Transgene in a pre-IPO round that values Tasly at $1.9 billion; the company plans to IPO in Hong Kong; GT Healthcare Capital of China and Sonder Capital of Silicon Valley closed a $26.6 million round in San Francico's Potero Medical, a medical d...

Tasly Biopharma Raises $84.5 Million in Pre-IPO Round

Tasly Biopharma of Shanghai raised $84.5 million in new capital from a group of investors that included Ally Bridge. The funding is a pre-IPO round as Tasly is planning to list on the Hong Kong Exchange. The investors received a 4.5% stake in Tasly Biopharma, implying a $1.9 billion pre-IPO valuation. Tasly Biopharma is a subsidiary of Tasly Pharma. As a separate part of the transaction, Transgene...

Friday 13th July 2018

Haitong Invests in Orig3n, a Boston Genetics/Regenerative Medicine Company

Haitong International of Hong Kong led the first close of a Series B round in Orig3n, a Boston genetics and regenerative medicine company. The size of the round was not disclosed, but Orig3n has raised $50 million since it was founded in 2014. Orig3n offers personalized genetics tests, and it is developing an allogenic cell bank, mostly from crowdsourced samples, that it will use to advance regene...

Merck to Market Xian Janssen's SGLT-2 Diabetes Drug in China

Germany's Merck KGaA will market Xian Janssen's Inovokana® in China. Inovokana, a novel treatment for type 2 diabetes, is a member of the relatively new sodium-glucose co-transporter 2 (SGLT-2) class of oral diabetes treatments. In China, Merck already distributes Glucophage® (metformin hydrochloride) and other diabetes products, while Janssen has no presence in the sector. Approved a...

CStone Approved to Start China Clinical Trials of PD-1 Candidate

Suzhou CStone Pharma reported the China National Drug Administration (CNDA) has approved the first clinical trial application in China for CStone's PD-1 mAb, CS1003. CStone said the CNDA reviewed its filing under new rules, issuing a decision in just four months, dramatic proof of the agency's modernization of clinical trial approvals. CStone plans to start a multi-center China Phase I trial ...

Thursday 12th July 2018

Hillhouse Capital of Beijing Co-Leads $15 Million Round for Antiva

Beijing's Hillhouse Capital and Sirona Capital of Australia have co-led a $15 million Series C-1 funding for Antiva Bioscience, a South San Francisco biopharma developing topical treatments for pre-cancerous lesions caused by HPV infection. Currently, Antiva is testing its lead compound, ABI-1958, for safety and efficacy in two Phase Ib clinical trials. Antiva said Hillhouse would be helpful in fo...

GT Healthcare and Sonder Invest $26.6 million in Potero Medical

GT Healthcare Capital, a China healthcare focused fund, and Sonder Capital of Silicon Valley closed a $26.6 million round in Potero Medical of San Francisco. Poterio is developing the Accuryn® Monitoring System, a urinary catheter that includes a smart sensor to monitor patients' vital signs in real-time. Intended for ICU patients, the device provides readings for intra-abdominal pressure, uri...

Wednesday 11th July 2018

Dian Diagnostics to Market Agena's MassARRAY® in China

Zhejiang Dian Diagnostics formed a commercial partnership with San Diego's Agena Biosciences to promote Agena's MassARRAY® System and DNA testing applications in China. Using its large independent network of medical labs, Dian will offer the MassARRAY system to partner-hospitals/labs that are looking for a cost-effective device to provide their own in-house molecular genetic testing. Dian's Ma...

Adlai Nortye Acquires Global Rights to Novartis Cancer Drug

Adlai Nortye Biopharma, a Hangzhou oncology in-licensing company, acquired global rights to a clinical-stage Novartis cancer drug, buparlisib. Buparlisib is an oral pan-PI3K inhibitor that targets all class 1 PI3K isoforms. Novartis has conducted successful Phase II tests of the drug in various hematologic malignancies and also believes it will show efficacy when paired with paclitaxel in solid tu...

Adagene Approved to Begin US Trials of I-O Cancer Candidate

Adagene of Suzhou was approved to begin US trials of its lead product, ADG-106, in patients with advanced solid tumors and non-Hodgkin lymphoma, the first trial of any Adagene candidate. ADG-106 is a fully human mAb that targets a novel epitope of CD137, a member of the tumor necrosis factor (TNF) receptor superfamily. The company said ADG-106 is the only mAb against this target to show potent sin...


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