Recent Articles in Deals & Financings

Jiangsu Hansoh Pharma extended its partnership with Zhuhai Biotheus, acquiring global rights to Zuhai’s proprietary anti-EGFR/cMet bispecific antibody in a $700 million agreement. Two years ago, Hansoh acquired China rights to the candidate for $207 million. Now, the company will be in charge of taking the bispecific to global markets, although it does also have rights to sublicense it. Zhuhai’s candidate is a 1+1 heterodimeric EGFR/cMet bispecific antibody, designed to inhibit the growth and survival of tumors. It is currently in Phase I clinical trials to treat solid tumors including non-small-cell lung cancer. More details....

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PegBio, a Suzhou biotech, has filed for a Hong Kong IPO to support commercialization of its long-acting pegylated GLP-1 receptor agonist for type 2 diabetes and obesity. The company says its pegylated technology will require only a once-weekly administration for PB-119. PegBio has filed for NMDA approval of the drug, which has completed two China Phase III trials in T2DM patients, one as a monotherapy and the other in combination with metformin. The company expects a ruling in late 2024, allowing for a launch in early 2025. It has five additional novel products in development. More details....

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Shenzhen EurekaBio closed a $40 Series B+ funding to support the commercialization of its EuLV™ Lentiviral Vector Production System, a technology that the company believes could transform large-scale production of lentiviral vectors. The system is based on stable cell lines and a serum-free suspension system. Eureka believes its novel technology will have a major impact in how cell and gene therapies are developed. The B+ round was led by Yeuxiu Industrial Fund, with participation from China funds and follow-on investments from US funds. More detail....

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Chengdu Maxvax Biotechnology raised $40 million in a Series C financing round to advance its portfolio of seven vaccines, two of which are in clinical trials. The company develops innovative vaccines and immunotherapies to prevent and treat infectious diseases and cancer. Maxvax, which has five subsidiaries with over 300 employees, was founded in 2016. The company applies its three platforms -- adjuvant, recombinant protein and mRNA technology – to develop novel products. The company has been recognized as a national high-tech enterprise. The C round was funded exclusively by the Shenzhen Capital Group. More detail....

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Hangzhou Zylox-Tonbridge, a peripheral and neurovascular interventional device company, entered a $15 million deal to distribute and manufacture the entire device line of California’s Avinger in China. Avinger offers intra-vascular image-guided, catheter-based systems for diagnosis and treatment of vascular disease. Zylox-Tonbridge, which will have Greater China rights to the products, will buy $7.5 million of Avinger stock upfront and the rest after technology transfer. Avinger will also have distribution rights in the US and Germany for Zylox-Tonbridge’s peripheral vascular products. More details....

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