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Week in Review: Innovent Acquires GenFleet's KRAS G12C Oncology Candidate in $312 Million Deal
Deals and Financings
Shenzhen Ionova Life Science completed a $100 million financing to support its novel targeted and immuno therapies for cancer (see story). Its research arm, Touchstone Translational Research Institute, uses its biology-driven drug discovery platforms for new candidates while also collaborating with academia and biopharmas to translate basic biomedical research discoveries into novel therapies. Based on insights into the tumor microenvironment and immunoregulation, the company applies its "immunotherapy + targeted therapy" strategy. The financing was led by Tsing Song Capital, Shenzhen Capital Group Company and Greater Bay Area Homeland Development Fund.
ETERN Therapeutics of Shanghai closed a Series B funding to advance its Protein Liquid-Liquid Phase Separation (LLPS) technology (see story). Established in 2018, ETERN, a clinical-stage company, said its LLPS technology focuses on developing molecules for previously undruggable targets. ETERN will use the capital to advance several novel programs through discovery and clinical development. The B round, whose size was not disclosed, was co-led by GL Ventures and AstraZeneca-CICC Healthcare Fund, with participation from new investor Morningside Ventures.
Suzhou Innovent (HK: 01801) acquired greater
Jacobio (HK: 1167), a Beijing-Shanghai Pharma, made a $53 million strategic investment in Boston-based Hebecell (see story). Jacobio will collaborate with Hebecel to develop its next-gen natural killer cell therapies based on induced pluripotent stem cells (iPSC-NK). iPSC-NK uses natural killer cells that can be produced indefinitely from iPSC cells, without separating the cells from the patient's blood, a technology that has the potential to offer off-the-shelf CAR-T therapies. Dr. Yinxiang Wang, chairman and CEO of Jacobio, will become Chairman of Hebecell.
NeuExcell Therapeutics, a Pennsylvania-Shanghai gene therapy company focused on neurodegenerative diseases, completed a $10+ million Series Pre-A financing from
4B Technologies, a
Shanghai Microport EP Medtech and Stereotaxis of St. Louis will collaborate to develop advanced robotic electophysiology devices (see story). The companies will combine MicroPort EP’s electrophysiology products with Stereotaxis’ (NYSE: STXS) advanced Robotic Magnetic Navigation technology. MicroPort EP will become the exclusive distributor of Stereotaxis’ electrophysiology technology in
Trials and Approvals
Gloria Biosciences was approved to launch its anti-PD-1 mAb to treat recurrent or refractory classical Hodgkin’s lymphoma (see story). The PD-1, zimberelimab, was discovered by CRO WuXi Biotech using Ligand Pharma's OmniRat® program. Gloria has rights to zimberelimab in
Arctic Vision, a
Harbour BioMed (HK: 02142) was approved to start a China Phase II trial of its anti-FcRn (batoclimab) candidate in patients with chronic inflammatory demyelinating polyneuropathy (CIDP) (see story). CIDP is a chronic disease characterized by progressive weakness and impaired sensory function in the legs and arms. Currently, the condition is treated by corticosteroid pulses and intravenous immunoglobulin (IVIg), but these therapies cause side effects and IVIg is not always available. HBM is headquartered in the