Recent Articles in Deals & Financings

Sichuan Biokin Pharma, the parent of Baili Pharmaceutical, filed to stage an IPO on the Hong Kong Exchange that could bring in $500 million. Baili is an generics/Traditional China Medicines company that established an innovative drug development company, SystImmune, in Seattle 10 years ago. Last December, SystImmune partnered BL-B01D1, its lead anti-HER3 ADC that also targets EGFR, with Bristol Myers Squib in a blockbuster $8.4 billion deal. The agreement included provisions for an $800 million upfront payment and another $500 million in near-term milestones. The $500 million target of the IPO is a very ambitious goal in the currently cautious IPO market, but Biokin has an enviable track record that could make it happen. More details....

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Chengdu’s Keymed Biosciences out-licensed global rights (ex-China) for a pair of bispecific candidates to Belenos Biosciences in a $185 million agreement. In return for CM512 and CM536, Keymed will receive $15 million upfront and milestones of up to $170 million, plus royalties. Belenos will develop, manufacture, and commercialize the two dual-specific antibodies CM512 and CM536 globally (excluding Greater China). A Keymed subsidiary will receive a 30% ownership of Belenos. Belenos will be responsible for all development costs of CM512 and CM536, including clinical trials. More details....

Stock Symbol: (HK: 02162)

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China’s Foreseen Biotechnology out-licensed global rights for an ADC candidate to France’s Ipsen in a deal potentially worth over $1 billion. FS001 targets a novel tumor associated antigen, which is highly expressed in a range of solid tumors and plays a critical role in tumor proliferation and metastasis. This novel tumor antigen was identified using Foreseen’s high throughput, integrated translational proteomics, and artificial intelligence (AI)-powered screening platforms. The transaction was Ipsen’s second ADC acquisition this year following a $900 million deal in April for rights to Sutro Biopharma’s preclinical ROR1-targeting ADC. More details....

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Shanghai Sanyou Bio, a biologics CRO, will integrate a proprietary generative AI antibody design platform (GeoBiologics) developed by BioGeometry, a Beijing AI company. Sanyou has developed an antibody library construction platform, based on nine super-trillion antibody libraries as its core, with a capacity of up to 10 trillion. BioGeometry specializes in AI-driven protein design with an R&D platform. The combination will offer a Dry-Wet antibody R&D platform that integrates BioGeometry's AI algorithm with Sanyou Bio's wet lab capabilities. Sanyou expects the AI platform to speed up development and add new targets for candidates. More details....

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South Korea’s Genexine will merge with EPD Biotherapeutics, a company developing an innovative targeted protein degradation (TPD) in exchange for 16% of Genexine’s stock, worth about $180 million. EPD has developed a bioPROTAC platform, known as EPDegTM, that is based on an mRNA-based bioPROTAC technology. The platform creates fusion-protein degraders delivered as mRNA-LNP that do not depend on tissue specific expression of E3 ligase. EPD believes the technology will overcome the limitations of existing small molecule-based PROTAC technology. More details....

Stock Symbol: (KOSDAQ: 095700)

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