• Regor Pharma, a Shanghai-Boston biotech, received $850 million upfront from Genentech for global rights to two early-stage CDK inhibitors aimed at breast cancer;
• Kailera Therapeutics launched with a four-drug pipeline from Hengrui aimed at obesity; Keilera was formed by four US VCs who funded the startup with an initial $400 million;
• Caliway Biopharma staged a record-high IPO for a biotech company on the Taiwan Exchange, raising $206 million at a $3 billion valuation for its targeted weight loss candidate;
• Flagship Pioneering, a Cambridge, MA company, formed a collaboration with Singapore’s A*STAR to back new Singapore-based health companies;
• Hong Kong’s GenEditBio received a strategic investment from Gobi Partners GBA to develop affordable "precision DNA surgery" gene therapies for genetic diseases.
  
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• 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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Deals and Financings

• Japan’s Nippon Shinyaku will acquire European rights for a Duchenne muscular dystrophy disease therapy from Capricor of San Diego in a $735 million deal;
• Shanghai’s Fosun Pharma will pay $37 million to buy out its JV partner, Kite Pharma, gaining full control of the JV’s two CAR-T products in China;
• Organon China acquired China rights to an ovarian stimulation therapy from Shanghai Bao Pharma for $12 million upfront plus milestones;
• Hangzhou Celregen Therapeutics raised “tens of millions RMB” to advance its stem cell regenerative medicine and cell therapy products;

Clinical Trials

• Beijing QL Biopharma broke new ground in the crowded GLP-1 marketplace with news that ZT002 was effective in a once-monthly dosing regimen.
  
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Deals and Financings

• Shanghai’s EpimAb sold global (ex-China) rights for a clinical-stage BCMA-targeting T-cell engager to Vignette Bio, a San Francisco startup, in a $635m deal.
• Shenzhen TargetRx raised $20m by selling China commercial rights for an ALK inhibitor to Nanjing’s Simcere Zaiming;
• Hangzhou Hygieia Biotech staged an A2 financing to advance its 11 siRNA molecules, including two out-licensed assets, one with Fosun the other with Tasly;

Company News

• Connect Biopharma has moved its headquarters to San Diego from Suzhou; it sold China rights for its lead asset, rademikibart, to Simcere and wants another deal for the rest of the world.
  
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Deals and Financings

• Belgium’s UCB divested its entire current China five-drug portfolio, making way for its late-stage clinical assets; CBC paid $680 million for the older drugs;
• Shanghai’s YolTech sold China rights for its PCSK9-targeting base editing therapeutic to Shenzhen Salubris Pharma in a $145 million deal;
• New Jersey’s Navigator Medicines raised $100 million in initial funding to develop an OX40L-targeted portfolio in-licensed from Korea’s IMBiologics;
• Bora Pharmaceuticals, a Taiwan CDMO, continued its acquisition of US-based CDMOs by acquiring a 30.5% share of San Diego’s Tanvex Biopharma;
• Shanghai DualityBio plans to conduct a Hong Kong IPO to support its portfolio of ADC therapeutics for cancer and autoimmune diseases.
  
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