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Deals and Financings

• ArriVent BioPharma of Philadelphia priced its upsized NASDAQ IPO at $18 dollars per share, raising $175 million to support in-licensings from China and other countries;
• China's Jiuzhou Pharma will invest $42 million to expand its CDMO business by building a facility in Japan to offer small molecule R&D and green manufacturing;
• Jiangsu Alphamab and its partner 3D Medicines of Beijing out-licensed non-US/EU/China rights to their approved subcutaneous injection PD-L1 inhibitor, envafolimab, to India’s Glenmark;
• Biocytogen Pharma (Beijing) launched a new sub-brand, RenBiologics™, which will be in charge of the company’s antibody and RenMice® out-licensing business;  

Trials and Approvals

• An siRNA therapy developed by Shanghai Refreshgene Therapeutics that delivers a copy of the human otoferlin gene enabled five of six children with genetic deafness to hear;
• Beijing InnoCare was approved to launch tafasitamab (Minjuvi®) under an early access program as a second-line therapy to treat patients with diffuse large B-cell lymphoma;
• Shanghai Gannex announced that its partner, Sagimet Biosciences, reported positive topline results from a US Phase IIb trial of denifanstat in patients with NASH;
• Guangzhou Baird Medical Devices performed its first thyroid microwave ablation procedure in the US to treat benign and malignant tumors;
• Suzhou DualityBio and its partner, BioNTech of Germany, dosed the first metastatic breast cancer patients in a global Phase III trial of a novel antibody-drug conjugate candidate targeting HER2.
  
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Deals and Financings

• Lee’s Pharm, a Hong Kong in-licensing company, acquired China rights to a heart failure therapy from Windtree Therapeutics of Pennsylvania in a $138 million deal;
• AstraZeneca signed an $26.5 million investment cooperation agreement to build a new production line in its existing Taizhou manufacturing plant for its type-2 diabetes therapy aimed at weight loss;

Trials and Approvals

• Suzhou Adagene reported positive early data from a US Phase Ib/II trial of its masked anti-CTLA-4 SAFEbody® in colorectal cancer patients;
• SineuGene, a Beijing startup developing an RNA therapy for ALS, reported that its lead candidate, SNUG01, slowed the progression of ALS to a “plateau stage” in the first patient;
• Chengdu Chipscreen NewWay Biosciences dosed the first patient in a Phase I clinical trial of a PD-1/CD40 bispecific antibody in patients with solid tumor cancers;
• Beijing InnoCare Pharma was approved to start US clinical trials for its BCL2 inhibitor, the company’s fifth innovative candidate to start US trials;
• Shanghai CARsgen Therapeutics was cleared to start a China trial of CT011, an autologous CAR T-cell candidate against Glypican-3 for hepatocellular carcinoma.
  
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Deals and Financings

• Shanghai Argo Biopharma entered two agreements with Novartis, out-licensing four next-gen RNAi therapeutics for a total value of $4.2 billion ($185 million upfront);
• Ambrx Biopharma, a San Diego-Shanghai company that is developing a portfolio of four ADCs, will be acquired by Johnson & Johnson for $2 billion;
• GSK plans to pay $1.4 billion to buy Aiolos Bio, a San Francisco company whose major asset is a long-acting mAb for asthma that Aiolos acquired from Jiangsu Hengrui Medicines;
• Hong Kong’s Insilico Medicine sold global rights for its small molecule KAT6A inhibitor to Stemline Therapeutics, an oncology subsidiary of Italy’s Menarini Group, in a $500 million agreement;
• Tenacia Biotechnology (Shanghai) acquired greater China rights to a clinical-stage therapy for essential tremor from Boston’s Praxis Precision Medicines in a $279 million deal;
• Chengdu Kanghua Biological out-licensed global (ex-China) rights for its norovirus vaccine candidate to Boston’s HilleVax in a $270 million agreement;
• Germany’s Bayer AG joined with RTW Investments of New York City to make a $162 million investment into Ji Xing Pharma, an innovative Shanghai drug development company;
• OnCusp Therapeutics, a New York City-Shanghai biopharma, completed an oversubscribed $100 million Series A financing to advance CUSP06, an ADC targeting CDH6;
• Shanghai Henlius Biotech acquired China rights to a novel breast cancer therapy developed by Sermonix Pharma of Columbus, Ohio in a $58 million deal;
• Shanghai WuXi Biologics signed a research service agreement with Germany’s BioNTech to discover investigational monoclonal antibodies for two undisclosed targets paying $20 million upfront;
• Beijing Biocytogen Pharma sold an option for a first-in-class anti-HER2/TROP2 bispecific antibody-drug conjugate to Radiance Biopharma of Boston.

Deals and Financings

• Suzhou Ribo Life Science will collaborate with Boehringer Ingelheim to develop siRNA treatments for nonalcoholic or metabolic steatohepatitis in a deal that could be worth up to $2 billion;
• Allorion Therapeutics, a Boston-Guangzhou company, out-licensed global rights (ex-China) for its CDK2 selective inhibitor to San Diego’s Avenzo Therapeutics in a $1 billion deal;
• Suzhou MediLink Therapeutics out-licensed global rights for its pre-clinical c-Mesenchymal epithelial transition factor (c-Met) ADC to Roche in a $1 billion agreement;
• Beijing Avistone Biotech completed a $140 million Series B financing to advance its portfolio of innovative precision medicine oncology candidates;
• Shanghai JW Therapeutics will start a China clinical trial of 2seventy’s CAR T-cell therapy for autoimmune diseases with negotiation rights for China commercialization;
• Shanghai IASO Biotherapeutics will collaborate with Seattle’s Umoja Biopharma to develop two iPSC-derived off-the-shelf CAR T-cell gene therapies with global rights;
• Novartis acquired the 50% of Shanghai’s SanReno Therapeutics it didn’t already own from a China consortium of investors who helped to found the company in 2021;

Trials and Approvals

• Shanghai Belief BioMed completed dosing the first subject in a China registrational trial of BBM-H803, a gene therapy for hemophilia A.
  
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