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Week in Review: Three $300 Million Deals for China Biopharma
Deals and Financings
China Grand Pharma (HK: 512) announced a $340 million agreement to develop and commercialize Telix Pharma's (ASX: TLX) molecularly-targeted radiation products in
Sichuan Clover Biopharma announced the Coalition for Epidemic Preparedness Innovations (CEPI) will underwrite clinical development of its protein-based S-Trimer COVID-19 vaccine with up to $328 million in backing (see story). CEPI has already granted $69.5 million of the total to Clover for preclinical studies, Phase I clinical trials and set-up for the global Phase II/III trials and manufacturing scale up. In the Phase I trial, the vaccine was found to be safe and effective, though Clover has not yet released detailed data from the test.
JW Therapeutics (HK: 2126), a
CARsgen Therapeutics of
Apollomics, a Foster City-Hangzhou oncology company, completed a $124.2 million Series C financing led by Ping An Capital (see story). The company has six assets in more than ten clinical trials in the
Trials and Approvals
Shanghai Green Valley Pharma announced its global Phase III trial of an algae-derived treatment for Alzheimer's disease has begun enrolling patients (see story). The company intends to enroll 2046 patients with mild to moderate Alzheimer's in the
LianBio, a Shanghai-Princeton biotech, has been approved to start a Phase III trial of infigratinib in
Asieris Pharma has been approved to conduct a China Phase III trial of its MetAP2 inhibitor as a first-line treatment for non-muscle invasive bladder cancer (NMIBC) (see story). The candidate, APL-1202, is already being tested in a Phase III trial in combination with chemotherapy as a second-line therapy in NMIBC patients at risk for recurrence from chemotherapy alone. An oral drug, APL-102 avoids the need for catheterization or surgery. Asieris is a Taizhou-headquartered biotech developing treatments for genitourinary tumors.
Everest Medicines (HK:1952) has dosed the first patient in a registrational China Phase IIb trial of TrodelvyTM to treat metastatic triple-negative breast cancer (see story). Trodelvy (sacituzumab govitecan) is a first-in-class antibody-drug conjugate directed at TROP-2, a membrane antigen that is over-expressed in many common epithelial cancers. Last year, Everest in-licensed Greater China rights to Trodelvy from Immunomedics (NSDQ: IMMU) in an agreement worth up to $835 million. Immunomedics recently released US Phase III data showing significantly improved PFS and OS results for Trodelvy.
Disclosure: none.
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