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Week in Review: Eluminex Raises $50 Million for Ophthalmology Drugs
Deals and Financings
Eluminex Biosciences, a Suzhou ophthalmic biotech startup, closed a $50 million Series A Financing from Lilly Asia Ventures, Hillhouse's GL Ventures and Quan Capital (see story). The company will discover and develop first-in-class and/or best-in-class therapies that address unmet vision-threatening diseases for global markets. Further details were not disclosed. Eluminex's headquarters and R&D facility are located in
Beijing Gene+, a company using next-gen sequencing for oncology diagnostics, raised $38 million in a Series B round (see story). Gene+ has developed NGS and genetic big data platforms to support four major businesses: clinical testing, medical equipment, scientific-technological cooperation and early tumor screening. In 2019, the company announced its domestically produced sequencers, kits and supporting software were all certified for use in
PreGene, a Shenzhen biotech, closed a $21 million B financing as it looks forward to an IPO on the
Genetron Health (NSDQ: GTH), a Beijing-North Caroline diagnostic company, announced a city-wide early screening test for liver cancer in
COVID-19 Pandemic
Sinopharm has filed for China approval of at least one of its two COVID-19 inactivated vaccines based on initial data from a global Phase III trial, according to a Bloomberg report (see story). However, an unnamed company official disputed that the filing has actually been completed. In any case, it seems that Sinopharm is close to a submission following clinical trials in South America and
Trials and Approvals
Bio-Thera Solutions (SHA: 688177) of
Suzhou Ascentage Pharma (HK: 6855) said its novel Bcl-2 inhibitor was approved to start two China Phase Ib/II clinical trials: one in Waldenström macroglobulinemia (WM), and the other one in multiple myeloma (MM) (see story). APG-2575 is designed to treat hematologic malignancies by selectively blocking Bcl-2 to restore the normal apoptosis process in cancer cells. The candidate has started multiple trials in
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