Week in Review: Bio-Thera Raises $241 Million in Shanghai STAR IPO for Antibody Portfolio

21:03 EST 15 Feb 2020 | ChinaBio Today

Deals and Financings

• Bio-Thera Solutions of Guangzhou priced its $241 million IPO on Shanghai’s STAR Board at a $2 billion valuation to support its antibody pipeline;
• Shanghai Universal Medical Imaging closed an $86 million Series B round to expand its portfolio of China third-party imaging centers;
• China's TUS-Holdings participated in a $22 million B round for Stilla Technologies of Paris and its PCR device that detects/quantifies DNA mutations;
• Beijing Advaccine Biotechnology raised $4.3 million to test a COVID-19 being developed with Inovio of the US;

Wuhan Coronavirus Outbreak

• BrightGene Bio-Medical of Suzhou synthesized the API of remdesivir, a Gilead drug with China IP aimed at COVID-19, and would like to produce the drug;
• Sihuan Pharma and Hetero Labs, an Indian generic drug maker, signed a framework agreement to bring Hetero's products, including potential COVID-19 anti-infectives, to China;
• Johnson & Johnson will collaborate with the US Biomedical Advanced Research and Development Authority to expedite development of a COVID-19 vaccine;
• Clover Bio of Chengdu has produced a trimeric Spike-protein (S-Trimer) subunit vaccine candidate for the Wuhan coronavirus;

Trials and Approvals

• Roche announced China approval to launch its PD-L1 immunotherapy, Tecentriq, to treat small cell lung cancer;
• Genetron Holdings of Beijing received NMPA approval to market its 8-gene Lung Cancer Assay for risk assessment and early cancer screening;
• Samsung Bioepis, a biosimilar JV formed by Korea's Samsung and Biogen, will start a China Phase III trial of a biosimilar to a treatment for a rare disease, PNH;
• Zai Lab reported China's NMPA has accepted for review its NDA for omadacycline, a novel anti-infective.

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