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

22:03 EDT 14 Jul 2018 | ChinaBio Today

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 device company;
  • Beijing's Hillhouse Capital and Sirona Capital of Australia co-led a $15 million Series C-1 funding for Antiva Bioscience, a South San Francisco biopharma;
  • CC-Pharming of Beijing paid $4.7 million to in-license use of a plant-based technology developed by Texas' iBio to develop and manufacture antibodies;
  • Adlai Nortye Biopharma, a Hangzhou oncology in-licensing company, acquired global rights to a clinical-stage Novartis cancer drug, buparlisib;
  • Haitong International of Hong Kong led the first close of a Series B round in Orig3n, a Boston genetics and regenerative medicine company;
  • Germany's Merck KGaA will market Xian Janssen's Inovokana®, a SGLT-2 treatment for type 2 diabetes, in China;
  • Zhejiang Dian Diagnostics formed a partnership with San Diego's Agena Biosciences to promote Agena's MassARRAY® System in China;
  • IDS Medical Systems of Hong Kong partnered with WeDoctor, the Tencent online healthcare portal, to provide an online supply of medical devices;

Trials and Approvals

  • Suzhou CStone Pharma was approved to start China trials of its PD-1 mAb, after a short, four-month review period;
  • 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.

Stock Symbols: (SHA: 600535) (SHA: 600535) (P: TNG) (NYSE AMERICAN:IBIO) (NYSE: NVS) (F: MRK) (HK: 0700)

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