Week in Review: Fosun Pharma Plans $690 Million Deal to Privatize Henlius, its Biologics Subsidiary

Deals and Financings

• Shanghai Henlius Biotech, the biologics arm of Fosun Pharma, agreed to be a wholly owned subsidiary of Fosun in a $690 million deal that values the company at $1.7 billion;
• Suzhou Ascentage Pharma filed to list in the US to support its portfolio of drugs that restore natural cell aging; in 2019; the company staged an IPO in Hong Kong;
• CASI Pharmaceuticals received a $40 million take-private offer for its China operations from the company’s Chairman and CEO, Dr. Wei-Wu He;
• Hong Kong King-Friend Industry bought global rights to Yusimry®, a Humira® biosimilar, from Coherus BioSciences of Redwood City, CA for $40 million upfront;
• Korea’s AprilBio out-licensed worldwide rights for its IL-18 targeted fusion protein to Evommune, a Palo Alto biopharma focused on chronic inflammatory diseases;

Trials and Approvals

• Novo Nordisk was approved to launch Wegovy, one of its two GLP-1 drugs, in China for long-term weight management in obese and overweight people;
• Nanjing Simcere Zaiming, an oncology subsidiary of Simcere, announced China’s NMPA approved Enlituo® for RAS/BRAF wild-type metastatic colorectal cancer;
• Innovent Biologics reported its GLP-1R/GCGR dual agonist caused weight loss in a China Phase III trial and also reduced liver fat in obese and overweight patients;
• Beijing Gan & Lee, a diabetes drug specialist, said its GLP-1 receptor agonist showed impressive weight loss in a China Phase Ib/IIa trial;
• Wuhan iRegene was approved to begin US trials of its novel chemically induced allogeneic cell therapy product as a treatment for Parkinson's Disease.
  
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