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Week in Review: Hansoh Signs $1.5 Billion Cross-Border Deal for AI-Drug Discovery with Atomwise

publication date: Sep 14, 2019
 | 
author/source: Richard Daverman, PhD

Deals and Financings

Hansoh Pharma of China announced a blockbuster $1.5 billion small molecule drug discovery collaboration with Atomwise, a San Francisco AI company (see story). Atomwise will use its structure-based drug discovery programs to identify drug candidates for up to eleven target proteins in multiple therapeutic areas. Hansoh will make payments to Atomwise and hold global rights to any products, though Atomwise will receive royalties and participate in any sales or licensings. Hansoh, which completed a $1 billion IPO on the Hong Kong Exchange in June, is headquartered in Lianyuangang, Jiangsu Province.

Shanghai Henlius Biotech announced it would price its Hong Kong IPO to raise as much as $477 million, valuing the company at up to $3.5 billion (see story). Henlius, which was formed as a JV between Fosun Pharma and US-based Henlius, is the biologic arm of Fosun (HK: 02196: SHA: 600196), which owns 60% of the company. It is developing a portfolio of biosimilars, bio-betters and innovative biologics. In February, Henlius was approved to market a biosimilar to Roche's Rituxan, a treatment for lymphoma. It is the first approval for Henlius and the first biosimilar approved in China.

Insilico Medicine, a Hong Kong AI-based drug discovery company, closed a $37 million Series B funding round led by Qiming Venture Partners with other China investors participating (see story). Last week Insilico published an article in Nature Biotechnology that detailed the company's search for novel molecules that target the discoidin domain receptor 1 (DDR1) pathway. The entire process moved from thousands of potential candidates to a final compound tested in mice in just 21 days. Insilico says the Series B will be used to commercialize its generative chemistry and target identification technology.

SoliPharma, a Hangzhou company, completed a $36.5 million financing to support its development of high-end, difficult-to-make generic drugs (see story). The company, founded in 2010, develops products with partners, and registers them in China and the US, with an eye toward global markets over time. Its expertise ranges from early API development, through product development and into regulatory approval. The company's SoliTech® Solutions division has been given the mission of “bringing challenging molecules to global markets” more quickly.

Zhejiang Jiuzhou Pharma (SHA: 603456), an API company, will pay $16 million to acquire PharmAgra Labs of North Carolina, a small API CRO/CDMO business with contacts in the US and Europe (see story). Jiuzhou makes APIs and it also provides CRO/CDMO services for APIs in China through its Rainbow Pharma division. In 2016, Jiuzhou formed a US JV with Frontage Labs to offer API and intermediate CDMO services. Earlier this month, Jiuzhou announced it would pay $110 million to acquire Novartis's (NYSE: NVS) Suzhou API facility and supply APIs to Novartis.

Genenta Science, a Milan biotech, raised $14.6 million in its third funding, led by Shanghai's Qianzhan Investment Management (QZ) and Fidim, an Italian family fund (see story). Genenta is developing gene therapies for cancer using autologous hematopoietic stem progenitor cells (HSPCs) that contain an engineered gene for a tumor-related cytokine. It aims to trigger interferon-α expression, preventing relapses by rebuilding the patient’s immune system within the tumor. The company's lead product is Temferon, which has started trials in patients with early relapse multiple myeloma and newly diagnosed glioblastoma multiforme.

Stroke Medical, a medical device maker located in Shanghai's Zhangjiang Hi-Tech Park, completed a $14 million B financing led by Grand Yangtze Capital, Chengyu Capital and Hidea VC (see story). As its name implies, the company develops devices that prevent and treat stroke. It has China-approved products for Percutaneous Coronary Intervention (PCI), a minimally invasive device that inserts a stent to open blocked blood vessels, and a Left Atrial Appendage (LAA) occlusion device that walls off a section of the heart to prevent clots from entering the bloodstream.

Laviana Pharma of China raised about $14 million in a B+ financing to develop its CDMO operations (see story). Founded in 2005, Laviana offers outsourced process and manufacturing services for pharma companies, especially chemistry-related services. The company has three facilities in China -- Beijing, Tianjin and Taizhou -- plus a business office in the US. The company announced a similar $15 million funding in January 2081. The latest funding was led by V-Capital of Shanghai and included Guangdong's CMW Asset Management.

Trials and Approvals

Gracell, a Suzhou-Shanghai biotech, announced positive early results of its first-in-class FasT CAR-19 investigational cell gene therapy: in 24 patients, 23 (95.8%) achieved complete remission and 21 (87.5%) showed undetectable minimal residual disease (uMRD) (see story). All of the patients had relapsed/refractory B-ALL leukemia. Gracell's FasT CAR therapy reduces preparation time of the T-cells from two weeks to one day, lowering the cost. The results were announced during the CAR-TCR Summit currently being held in Boston.

Cellular Biomedicine (NSDQ: CBMG), launched a China Phase II trial for AlloJoin®, its stem cell treatment for knee osteoarthritis (KOA) (see story). The trial is the first stem cell trial approved by the NMPA since it revamped China's cell therapy regulations in late 2017. AlloJoin is an off-the-shelf product comprised of allogenic human adipose-derived mesenchymal progenitor cells. The NMPA has also accepted for review CMBG's IND application to conduct a Phase II trial for ReJoin®, its autologous haMPC therapy, also aimed at KOA.

I-Mab Biopharma of Shanghai will collaborate with Junshi Biosciences to test I-Mab's CD73 antibody in combination with Junshi's Tuoyi, the company China-approved PD-1 mAb (see story). The trial will enroll patients with various solid tumor cancers. CD73, a surface enzyme on stromal and cancer cells, is responsible for producing adenosine, which is highly immunosuppressive. Earlier this year, I-Mab partnered with Roche to conduct a similar US trial. The US trial combines TJD5, I-Mab's CD73 antibody, with Roche's PD-1, Tencentriq®. I-Mab believes TJD5 has best-in-class potential.

Sichuan Clover Biopharma has dosed the first patient in a China Phase I trial of its fully-human TRAIL-Trimer fusion protein in cancer patients with peritoneal carcinomatosis (see story). Clover described PC as a loco-regional disease defined as tumor dissemination inside the peritoneal cavity that often stems from gastrointestinal tumors. SCB-313 is a novel fusion protein consisting of TRAIL (TNF-related apoptosis-inducing ligand) and Clover's Trimer-Tag©, which allows the molecule to be trimerized. Clover believes its trimerized fusion proteins will be effective against previously undruggable targets.

CANbridge Pharma of Shanghai announced China granted Priority Review status to Hunterase (idursulfate beta) to treat a rare disease, Hunter syndrome (mucopolysaccharidosis type II) (see story). Hunter syndrome is a rare, disabling, life-threatening genetic disease, which has a higher prevalence in Asia than elsewhere in the world. Developed by Korea's GC Pharma, Hunterase is approved to treat Hunter syndrome in 10 countries. CANbridge in-licensed China rights to Hunterase from GC Pharma earlier this year, and filed a China NDA for the enzyme replacement in July. CANbridge specializes in China treatments for rare diseases and targeted cancer drugs.

Company News

JHL Biotech announced it has settled an IP suit brought by Genentech against the company by agreeing to stop all development of Genentech biosimilar drugs and to pay Genentech's legal and investigative costs related to the IP dispute (see story). JHL will not be required to pay any damage fees. In 2018, four former Genentech employees were indicted for a conspiracy to steal information related to four Genentech drugs and pass the information to JHL. JHL has its headquarters and R&D opertations in Hsinchu, Taiwan, while its manufacturing facility is in Wuhan, China.

Supported by AstraZeneca (NYSE: AZN) and the Wuxi municipal government, the Wuxi International Life Science Innovation Campus has officially opened in the Wuxi High-tech District (see story). Over the next three years, the new park expects to eventually provide space for 50 innovative life science companies. AstraZeneca will collaborate with the park's resident companies, using its global R&D network to accelerate innovation. The park aims to build a healthcare ecosystem that develops innovative products for China and global markets.

Disclosure: none.

 


 

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