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Week in Review: Shanghai Inmagene Signs $230 Million Deal to Develop Two HutchMed Immunology Assets

publication date: Feb 3, 2024

Deals and Financings

  • Inmagene Biopharma of Shanghai transferred 7.5% of its shares to HutchMed for global rights to two clinical stage immunology assets; it will also be responsible for up to $230 million in milestones;
  • Sanofi, a Paris biopharma, acquired a right-of-first-refusal for global rights to a ROCK2 inhibitor developed by Graviton Bioscience, which in-licensed the candidate from Beijing Tide Pharma;

Government and Regulatory

  • US legislators proposed a new law designed to protect genomic information of US citizens from Chinese biopharma companies, mentioning BGI and WuXi Bio as companies affiliated with China’s Army;

Trials and Approvals

  • Jinan Qilu Pharma announced that results from a Phase III trial of its next-gen oral ALK TKI for NSCLC were published in an international journal;
  • Biosyngen, a Singapore-Guangzhou cell therapy company, was granted US Fast Track designation for a clinical stage tumor-infiltrating lymphocyte (TIL) for liver cancer indications;
  • Guangzhou Bio-Thera has begun dosing patients in a China Phase IA/IIB clinical trial to test the efficacy and safety of an anti-OX40 inhibitor in patients with atopic dermatitis;
  • Suzhou Duality Biologics and Germany’s BioNTech received US Fast Track designation for their partnered ADC drug candidate to treat platinum-resistant ovarian cancer;
  • Biosion USA, an arm of Nanjing Biosion, has been cleared to begin US trials of BSI-082, a novel anti-SIRPα mAb targeting solid tumor cancers;
  • Gracell Biotech, a Suzhou-San Diego CAR-T company, was approved to begin a US Phase 1 clinical trial of its FasTCAR candidate in the US as an early-line multiple myeloma treatment;
  • Suzhou Vesicure reported that its extracellular vesicles successfully carried siRNA cargo targeting a KRAS mutation in a CDX mouse tumor model.

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