News and Financings

Chicago-based VectorBuilder, a gene therapy delivery CDMO, raised $57 million in a Series C round from China investors (see story). VectorBuilder develops and optimizes gene delivery products for research institutions and pharma companies. Earlier this year, VectorBuilder announced plans to build a $500 million gene delivery manufacturing and research campus in Guangzhou. The C round was co-led by Legend Capital, Suikai Investment (55% owned by state-owned firm Guangzhou Development District Investment Group) and Yuexiu Industrial Fund, a PE investor. 

Hangzhou JHM Biopharma completed a $28 million in a Series A1 round to support its biologic products for childhood genetic diseases, anti-aging, anti-virus and new biological materials (see story). The company’s R&D pipeline is structured around metabolism, medical aesthetics and other large market protein drugs. Its lead products include recombinant botulinum toxin type A and growth hormone. The round was co-led by Tonghua Investment Group and Guangdian Capital, with Zhonghe Oupu Medical and Health Fund, Focus Fund and Hongshi Capital participating. 

Hangzhou Celgenyx completed a $14 million Series A Round to support development of its off-the-shelf cell therapies, either through partnerships or its own R&D (see story). All of the capital was contributed by Vivo Partners from an RMB fund. Hangzhou Celgenyx is a development-stage biotech, dedicated to the acquisition and development of next-gen cell immunotherapies for malignant cancers. Celgenyx expects to complete construction of a 3000 square meter R&D center and GMP pilot production base in Hangzhou before the end of 2022. 

Guangzhou Maxinovel Pharmaceuticals closed a $14 million Series C+ round to support its portfolio of eight small molecule targeted and immunotherapy candidates (see story). Maxinovel’s lead product is a small molecule PD-L1 inhibitor that matched the efficacy of Durvalumab in a human PD-1 knock-in mice model. The company is developing products for hematological tumors, solid tumors and autoimmune diseases using its oral, radiotherapy imaging and transdermal platforms. The C+ round funds were raised from LAPAM Capital, Zhongxin Capital and Deyi Runrong Venture Capital. 

ImmVira, a Shenzhen company that develops next-gen anti-cancer drug vectors, has signed Series-C+ financing documents with the first batch of investors (see story). The company will keep the round open for as long as two months. It told investors that they can also invest at the same terms as those established by the lead investor and ImmVira. The C+ round was led by China Merchants China Direct Investments Limited with Lifebay and Unifortune Group participating. 

Shanghai JW Therapeutics (HK: 2126) will partner with Boston’s 2seventy bio (NSDQ: TSVT) to use 2seventy’s cell therapy platform to develop T cell-based immunotherapies for Greater China (see story). The collaboration will focus initially on 2seventy bio’s MAGE-A4 TCR program in solid tumors. JW will be responsible for development, manufacturing, and commercialization within China. 2seventy bio will receive milestones and royalty payments on revenues in China, and 2seventy may use JW’s clinical data to support ex-China development. Financial details of the agreement were not disclosed. 

Shenzhen Salubris Pharma (SHZ: 002264) signed a co-development agreement with Beijing’s Anlong Bio, a gene therapy company, to develop small molecule nucleic acid drugs for hypertension (see story). Anlong will use its ANOG small molecule nucleic acid drug technology platform for discovery, while Salubris will be responsible for development, clinical trials and commercialization. Although Salubris will have exclusive global rights to the hypertension therapy, the two companies will share the revenues. Founded in 2018, Anlong Bio has 12 preclinical projects underway and one in-licensed clinical-stage asset. 

Trials and Approvals

Shanghai Fosun Kite reported China’s NMPA has accepted its NDA filing of the company’s CAR-T as a second-line therapy for large B cell lymphoma (see story). One year ago, Yikaida was approved for third-line use in the same disease. Fosun Kite is a joint venture tasked with bringing Kite’s Yescarta to China. The drug, axicabtagene ciloleucel, is an autologous CD19 CAR T-cell therapy manufactured in China under a Kite license. The new indication will be for adult patients with large B cell lymphoma who did not respond to first-line immunochemo therapy or who relapsed within 12 months. 

Hangzhou Ascletis Pharma (HK: 1672) has filed an IND application in the US to start trials of its oral antiviral candidate to treat monkeypox virus (see story). ASC10, which is already in a US Phase Ib trial for SARS-CoV-2 viruses, showed efficacy against monkeypox in preclinical models, according to Ascletis. Monkeypox is an orthopoxvirus that causes a disease with symptoms like smallpox. There had been over 75,000 confirmed cases globally, with 28,000 of those in the US. 

Hangzhou Akeso (HK: 9926) announced China’s CDE granted Breakthrough Designation for its PD-1/VEGF bispecific antibody as a second-line therapy for non-small cell lung cancer (NSCLC) patients with EGFR mutations (see story). Ivonescimab will be administered together with chemotherapy. The Phase III candidate is a first-in-class PD-1/VEGF bi-specific molecule and the first in its class to start a registrational clinical trial. Last month, Ivonescimab was granted Breakthrough status as a  first-line treatment for NSCLC patients with positive PD-L1 expression. 

Disclosure: none.