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Suzhou Innovent announced positive data from another Phase III clinical trial of mazdutide, its dual agonist for type 2 diabetes. This trial showed mazdutide met its endpoint of lowering glycated hemoglobin (HbA1c) at week 24 while also producing an average weight loss of 9.6% at week 48. Innovent has already filed for mazdutide approval in China as a weight loss drug based on an earlier trial. Mazdutide combines a glucagon-like peptide-1 receptor (GLP-1R) with a glucagon receptor (GCGR). Innovent acquired China rights to the candidate from its long-time US partner, Lilly. More details....

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Deals and Financings

• South Korea’s SK Biopharma in-licensed global rights to a radiopharmaceutical compound developed by Full-Life Technologies of Shanghai in a $571 million deal;
• Beijing Biocytogen will use its RenLite® platform to discover novel antibody therapeutics for SOTIO Biotech of Prague in a $325 agreement;
• Beijing’s Sino Biological, a biological research reagents/CRO company, completed a $48 million takeover of Vancouver’s SignalChem, a company that offers bioactive enzymes;
• AusperBio, a Hangzhou-San Francisco biotech, booked $37 million in a Series A financing for its novel oligonucleotide and targeted delivery technologies;
• Shanghai’s Rona Therapeutics, a nucleic acid drug R&D company, completed a $35 million Series A+ financing to advance its pipeline of RNA candidates;
• Shanghai's Elpiscience has filed for a Hong Kong IPO to develop drugs for tumor microenvironments that are aimed at improving the efficacy of immunotherapies;
• Legend Biotech, a Nanjing-New Jersey cell therapy company, was rumored to have received a takeover bid, though its parent, GenScript, claims not to know anything about the offer;

Trials and Approvals

• Shanghai’s Everest reported China's NMPA accepted the filing of a supplemental NDA for full approval of Nefecon®, a first-in-disease IgA nephropathy therapy;
• Fujirebio Diagnostics, a global medical diagnostics company, will have access to samples from Alzheimer’s patients in a Phase III trial of an AirBio therapy for AD.
  
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Shanghai’s Rona Therapeutics, a nucleic acid drug R&D company, completed a $35 million Series A+ financing. Two years ago, the company raised $33 million in a Series A round to build a drug delivery platform and a pipeline of RNA medicines that have a longer duration of action than current RNA products. Rona is developing candidates, which it expects will be best and first-in-class siRNA candidates, that are generated from its next generation siRNA platform. Rona acquired the platforms two years ago from Sanofi along with four preclinical siRNA candidates for liver disease. More details....

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Elpiscience, a Shanghai company focused on tumor microenvironments, has filed to IPO on the Hong Kong Exchange. Founded in 2017, the company says immune and non-immune cell types in the tumor microenvironment secrete factors that activate inhibitory signals, creating a barrier for immunotherapies. Elpiscience expects its candidates will make immunotherapies more effective. In late 2023, Elpiscience announced a $1.7 billion collaboration with Japan’s Astellas Pharma (TSE: 4503) to develop a novel bispecific macrophage engager, ES019, that was developed on Elpiscience’s BiME® platform. The company has raised $240 million in three VC rounds. More details....

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AusperBio, a Hangzhou-San Francisco biotech, completed a $37 million Series A financing. The company develops therapies based on its novel oligonucleotide and targeted delivery technologies, focusing initially on curing chronic hepatitis B infection. Its lead drug is AHB-137, an unconjugated antisense oligonucleotide (ASO) developed by the company’s proprietary Med-Oligo™ ASO technology platform. In preclinical and Phase 1 clinical studies, the candidate has shown promise as an HVB cure, according to AusperBio. The A round was led by existing investor, InnoPinnacle Fund, with participation from new investors Yuanbio Venture Capital, Qiming Venture Partners, Hankang Capital and Genesis Capital. More details....

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