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Week in Review: Shanghai Henlius to File for Hong Kong IPO at Valuation of Over $1 Billion
Deals and Financings
Shanghai Fosun Pharma (HK: 02196: SHA: 600196) announced it will seek a Hong Kong IPO for Shanghai Henlius Biotech, its monoclonal antibody JV subsidiary (see story). At the same time, the company will withdraw its application for a listing on
GO Therapeutics of Cambridge, Mass. signed a $195 million licensing deal with Roche (SWX: ROG) to develop antibodies for cancer (see story). One year ago, Shenzhen Salubris (SHZ: 2294) made a $5 million investment in GO, acquiring
Aohua Endoscopy Co., a Shanghai endoscopy device maker, raised $44 million in a D round led by Lyfe Capital, a Shanghai healthcare-focused PE firm, and joined by existing investors Legend and Qiming (see story). The company said the capital will be used to develop a new generation of endoscopic systems and build a global service network. Founded in 1994, Aohua's sales network reaches more than 80 countries in the world.
HiFiBiO Therapeutics, a US-France-China biopharma, will collaborate with Kite Pharma, a division of Gilead Sciences (NSDQ: GILD), to develop technology that supports the discovery of neoantigen-reactive T cell receptors (TCRs) to treat various cancers (see story). Kite will pay HiFiBiO $10 million upfront, plus unspecified milestones. In addition, Kite will have an exclusive option to license HiFiBiO’s platform to screen T cell repertoires and to identify useful TCRs. HiFiBiO has facilities in
Cellular Biomedicine (NSDQ: CBMG) has been granted a Patent License for a next-gen neoantigen-reactive tumor infiltrating lymphocyte (TIL) technology from the National Cancer Institute of the US (see story). The License gives CBMG non-exclusive, sub-licensable global rights to develop, manufacture and commercialize TIL technology. Financial details were not disclosed, nor did CMBG explain why the technology is "next-gen." Headquartered in Silicon Valley, CBMG has operations in
Ping An Good Doctor (HK: 1833) will partner with China Resources Sanjiu, joining Good Doctor's internet platform with CR Sanjiu's portfolio of OTC and prescription TCM products (see story). Good Doctor includes an internet hospital, an in-house medical team and millions of users. It will promote CR Sanjiu's products, as well as creating user profiles to help manage chronic diseases over the internet, and applying its big data capability to create new models of "internet + Chinese medicine healthcare" in
Company News
PharmaBlock Sciences (SZE: 300725) of
Trials and Approvals
CANbridge Pharma of Beijing has filed a New Drug Application in China for Nerlynx® (neratinib) as an adjuvant treatment in patients with early-stage HER2-positive breast cancer, following adjuvant Herceptin therapy (see story).
Innovent Biologics of
Disclosure: none.
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