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Week in Review: Antengene Approved by Hong Kong Exchange for $200 Million IPO
Deals and Financings
Antengene, a three-year old
Sinovent, a
Sihuan Pharma (HK: 0460) reported its innovative drug subsidiary, Xuanzhu Biopharma, completed a $116 million Series A round financing from SDIC (see story). SDIC will own 18.6% of Xuanzhu, which is valued at $624 million. Sihuan said Xuanzhu is differentiated from other startups by having complete drug R&D capability along with the parent company's production and commercialization support. The company has two candidates in late-stage trials: birociclib, a CDK4/6 inhibitor for advanced breast cancer and janagliflozin, an SGLT2 inhibitor for diabetes.
Connect Biopharma, a San Diego-Suzhou clinical-stage biopharma, closed a $115 million Series C financing led by RA Capital Management, a new investor (see story). Connect focuses on developing immune modulating molecules for inflammatory and autoimmune diseases. The company's proprietary Immune Modulation Technology Platform is a high-throughput screening platform built on the biology of T cell function. Connect says the platform identifies molecules that target clinically validated disease pathways more efficiently than traditional discovery techniques.
Dizai Pharma of
ReViral Ltd., a London-North Carolina biopharma, closed a $44 million Series C financing led by
Shenzhen Yuce Biological completed a $43 million Series C round led by Yuanzhi Science & Technology Medical for its clinical testing of cancer immunotherapies (see story). Yuce Bio has developed a new antigen detection and identification platform, a professional database for cancer immunology based on bioinformatics, and a large real-world research database of tumor immunodiagnosis. As part of its program, Yuce has developed YuceOne Plus®, the first in vitro diagnostic reagent that uses gene testing to evaluate the effectiveness of an immunotherapy drug regimen.
HitGen (SHA: 688222) of
COVID-19 Pandemic
BeiGene (NSDQ: BGNE; HK: 06160) acquired global rights (ex-China) to anti-COVID-19 antibodies developed by Beijing Singlomics (DanXu) Biopharma (see story). BeiGene will develop, manufacture and commercialize DXP-593 and DXP-604 (plus a series of antibody sequences aimed at SARS-CoV-2) as treatments for the pandemic disease. DXP-593 and DXP-604 were identified by sequencing antigen-enriched B cells from over 60 convalescent patients. Singlomics will receive an upfront payment, regulatory/commercial milestones and royalties, though specific details were not disclosed.
Fosun Pharma (SHA: 600196; HK: 2196) and BioNTech agreed to allocate 10 million doses of their partnered mRNA COVID-19 vaccine to Hong Kong and Macau, once the vaccine is approved (see story). In March, Fosun announced a $135 million agreement to partner the product in mainland
Sinovac Biotech (NSDQ: SVA) of
Disclosure: none.
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