Recent Articles in Deals & Financings

Chime Biologics, a Wuhan biologic CDMO, signed a strategic cooperation agreement with Panolos Bioscience of South Korea to accelerate development of a novel protein drug, PB203, for solid tumors. PB203 is a multi-specific protein targeting VEGF, PIGF and PD-L1. Chime has adopted a “Grow with Customers” business model that allows clients to pay only part of the cost of development initially, with the remainder due after approval or a financing. Formed in 2019, Chime contains the Wuhan CDMO operations of JHL Biotech, a company that closed after losing a Genentech IP suit. Chime’s A+ round raised $190 million in 2021. More details....

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Tonghua Dongbao Pharma (THDB) out-licensed US commercialization rights for three insulin biosimilars — insulin aspart, insulin lispro, and insulin glargine — to Meitheal Pharma of Chicago. Meitheal is a division of Nanjing King-Friend Biochemical Pharmaceutical (NKF). THDB and NKF will be jointly responsible for the development and supply of the three products. In an unusual arrangement, all three companies, THDB, NKF and Meitheal, will receive royalties on US product sales. Details of the agreement were not disclosed. THDB expects the three products will be approved for US use in 2026. More details....

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Shanghai Everest Medicines acquired China/Asian rights to a novel therapy for autoimmune diseases from Kezar Life Sciences of South San Francisco in a deal worth $132.5 million. The candidate, zetomipzomib, is a first-in-class, selective inhibitor of the immunoproteasome that is expected to treat several autoimmune diseases including lupus nephritis (LN). Everest will join Kezar in its global, placebo-controlled Phase IIb trial of the candidate in patients with active LN. The company will make an upfront payment of $7 million to Kezar and be responsible for $125.5 of milestones, plus royalties. More details....

Stock Symbol: (HK: 1952)

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Hangzhou Lynk Pharmaceuticals closed a $16 million Series C2 financing to advance its portfolio of oncology and autoimmune therapies. In May, the company raised $28 million in a Series C1 round. Lynk’s portfolio consists of highly selective second-gen and tissue-specific third-gen small molecule JAK inhibitors, which have shown quick onset and excellent efficacy, according to the company. Its lead drug, LNK01001, recently reported positive results in a Phase II trial for rheumatoid arthritis and other autoimmune diseases. The C2 round was led by Shaoxing Binhai New Area Biomedical Industry Equity Investment Fund. More details....

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Once again, a big pharma has returned partnership rights for BeiGene’s anti-PD-1 candidate to the China company. This time it was Novartis who backed out of a $2.2 billion deal for ex-China rights to tislelizumab. Novartis claimed that regulatory issues for the drug caused the change in plans. Ironically, BeiGene also announced that the EU has approved tislelizumab as a second-line monotherapy for esophageal squamous cell carcinoma. Novartis paid $650 million upfront for the rights, plus up to $1.3 billion in regulatory milestones. Previously, Bristol Myers Squibb returned tislelizumab to BeiGene after making a $650 million upfront payment. More details....

Stock Symbols: (NASDAQ: BGNE; HKEX: 06160; SSE: 688235) (NYSE: NVS)

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