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Week in Review: SinoMab to IPO on Hong Kong Exchange

21:45 EDT 13 Jul 2019 | ChinaBio Today

Deals and Financings

• Hong Kong's SinoMab published its Prospectus for a Hong Kong IPO to support its antibody program for autoimmune and oncology mAbs;
• I-Mab Biopharma of Shanghai announced a $150 million deal for greater China rights to a novel MacroGenics immunotherapy aimed at head and neck cancer;
• Miaoshou Doctor, an online/offline Beijing healthcare company, completed a $73 million Series C+ financing that values the company at $1 billion;
• Shanghai Fosun Pharma paid $36 million to buy an older GlaxoSmithKline facility in Suzhou along with rights to make a hepatitis B/HIV treatment;

Company News

• Novartis expects to submit 50 new drug applications in China in the next five years and will include China from the start in all new clinical development projects;
• Gilead Sciences signed a strategic cooperation agreement with Chengdu Hi-tech Zone to develop a Western China Operation Center there;

Trials and Approvals

• CStone Pharma of Suzhou dosed the first patient in a China trial of a drug for gastrointestinal stromal tumors that CStone in-licensed from Blueprint Medicines;
• BeiGene of Beijing has been granted priority review in China for the company's PD-1 candidate as a treatment for bladder cancer.

Stock Symbols: (NSDQ: MGNX) (SHA: 600196; HK: 2196) (NYSE: GSK) (NYSE: NVS) (NSDQ: GILD) (HK: 2616) (NSDQ: BGNE; HKEX: 06160)

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