Shanghai’s Impact Therapeutics out-licensed global rights (ex-China) for two PARP inhibitors to Eikon Therapeutics, a San Francisco biopharma that has raised $600 million to develop novel oncology drugs. Impact is building a portfolio of cancer drugs based on the concept of synthetic lethality, which aims to take advantage of cancer cells’ genomic instability. Eikon will have rights to IMP1734, a selective PARP inhibitor of cancer cells that is expected to start clinical trials in 2H23, and another PARP inhibitor, probably IMP4297, currently in Phase II/III trials for ovarian and other solid tumor cancers. Financial details were not disclosed. More details....

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invoX Pharma, a UK subsidiary of Sino Biopharm (HK: 1177), completed a second investment tranche in pHion Therapeutics, a Belfast company developing mRNA vaccines for oncology and infectious diseases. pHion’s proprietary platform is designed to deliver anionic mRNA and saRNA molecules that evade detection and generate an antigen-specific CD8+ T-cell response. invoX positioned the investment as part of its strategy to be a fully integrated biopharma. One year ago, invoX paid $161 million to acquire another novel UK company, F-Star, a Cambridge, UK clinical stage company that develops bispecific drugs for immunotherapies. More details....

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Lynk Pharma of Hangzhou raised $28 million in a Series C1 financing to advance its portfolio of first-in-class and best-in-class small molecule candidates for oncology and autoimmune diseases. The company is developing highly selective second-gen and tissue-restricted third-gen JAK inhibitors while exploring novel targets for drug discovery. Lynk has four Phase II clinical trials underway in China and the US for four indications, some of which are nearly ready to begin Phase III trials. Its clinical stage assets address needs in psoriasis, ulcerative colitis, rheumatoid arthritis, myelofibrosis and IBD. More details....

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Hangzhou Betta Pharma acquired greater China rights for a novel non-small cell lung cancer drug from Boston’s C4 Therapeutics in a deal worth up to $392 million. CFT8919 is an orally bioavailable BiDAC™ degrader aimed at mutated EGFR L858R that C4 believes may also have efficacy against brain metastases. C4 develops products based on targeted protein degradation using the body’s own natural protein recycling system. Betta, which has a portfolio of 40 drugs in development, advances in-house developed novel oncology candidates and in-licensed products. More details....

Stock Symbols: (SHZ: 300558) (NSDQ: CCCC)

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Suzhou Coherent Biopharma closed a Series B+ round that brought its B/B+ funding to $100 million, which will be used for clinical trials of the company’s two lead candidates. Coherent develops drugs from its three XDC platforms – the “X” standing for all forms of drug conjugates, including ADC and PDC. Coherent will use the proceeds for clinical development of its bi-targeting XDC drug pipeline, which is aimed at treating breast cancer, solid tumors and prostate cancer. The Series B+ round was led by HM Capital. Shengdi Investment, a subsidiary of Hengrui Pharma, led the $75 million Series B round, completed last year. More details....

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