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Week in Review: Zenas Raises $259m in IPO

publication date: Sep 28, 2024
  • Zenas BioPharma staged a rare US biopharma IPO worth $259 million to complete development of its lead product, a bifunctional antibody for autoimmune diseases;
  • Hangzhou’s TJ Biopharma, which was spun off when I-Mab left China, sold the China rights for its CD73-targeted antibody to Sanofi in a $237 million deal;
  • LongBio Pharma (Suzhou) completed a Series B2 round led by Qiming Venture Partners that raised $14 million for its lead asthma candidate;
  • Germany’s Bayer opened its newest life science incubator, Bayer Co.Lab Shanghai, in Shanghai’s Zhangjiang Park;
  • AstraZeneca Korea plans a contest to choose two innovative Korean biohealth companies interested in China for its iCampus innovation hub in Wuxi, China.

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