Week in Review: Abbisko Raises $70 Million to Develop Cancer Drug Candidates
publication date: Mar 28, 2020
Deals and Financings
• Shanghai Abbisko Therapeutics raised $70 million in a Series C financing to develop its portfolio of small molecule targeted oncology and immuno-oncology candidates;
• Apexigen, a Bay Area clinical-stage biopharma, closed a $65 million second tranche of its C round for oncology immunotherapies;
• Nanjing IASO Biotherapeutics completed a $60 million Series B financing to develop more than ten cell therapies for oncology conditions;
• Asieris Pharma, located in Taizhou's China Medical City, closed a C round of unspecified size to advance its genito-urinary tumor treatments;
• Suzhou Innovent Bio acquired China rights to an anti-SIRP-alpha antibody from Alector that is designed to promote the immune response in myeloid and lymphoid cancers;
• Laekna Therapeutics Shanghai acquired global rights to Novartis' anti-PD-L1 antibody, the third in-licensing deal between Laekna and Novartis;
• Tyligand, a Shanghai small molecule biotech, acquired China rights to cancer drug onapristone ER from Context in return for designing a novel manufacturing process for the candidate;
Trials and Approvals
• Suzhou CStone Pharma filed an NDA in Taiwan for avapritinib, a precision therapy for gastrointestinal stromal tumors;
• AnHeart Therapeutics of Hangzhou was approved to start two China Phase II trials of taletrectinib, an oral small molecule ROS1/NTRK inhibitor;
Coronavirus Outbreak
• Shenzhen's BGI Genomics announced the US issued an Emergency Use Authorization for its RT-PCR test kit for SARS-CoV-2;
• Mabpharm of Taizhou out-licensed US and EU rights for an ACE-MAB fusion protein that targets COVID-19 to San Diego's Sorrento Therapeutics;
• Shanghai Fosun Long March Medical, a diagnostics subsidiary of Fosun Pharma, was approved to launch its novel coronavirus nucleic acid detection kit in China;
• Junshi Biosciences of Shanghai will collaborate with the Institute of Microbiology, Chinese Academy of Sciences to develop neutralizing antibodies as a COVID-19 treatment;
• Chengdu's Clover Bio will partner with Dynavax to conduct pre-clinical tests of Clover's COVID-19 vaccine candidate combined with Dynavax's vaccine adjuvant.
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