ChinaBio® Today

Access the latest partnering and dealmaking news from across Asia in our new publication BioXconomy.com

2024-10-17T10:13:00-00:00

I want to thank you for being a keen reader and subscriber to ChinaBio Today, but just as the biopharma landscape is changing, so are we.

For 17 years, we have brought you news on the rapidly evolving life science industry in China and the wider Asia-Pacific region through ChinaBio Today. Now, with ChinaBio Today’s editor Richard Daverman on board, we intend to continue the journey to report these deals and trends in our brand-new publication BioXconomy.

BioXconomy is the official media partner for Informa Connect Life Sciences partnering events, which now includes ChinaBio Partnering Forum and ChinaBio Investor Forum among the flagship LSX, EBD Group, and partneringONE brands.

The APAC region will become a major focus amid our year-round coverage of life sciences investment, innovation, partnerships, and business strategies within the virtual pages of BioXconomy. Along with our regular “Eyes on Asia” dealmaking round-up, we will strive to bring you an insider’s look into some of the bigger stories and rumblings within China and beyond.

ChinaBio Today will remain available as an archive, but going forward subscribe to the BioXconomy newsletter here to stay abreast of movements in Asia and beyond.

Thanks again for your continued following.

Dan Stanton

Editorial director, Informa Connect Life Sciences

AstraZeneca Acquires Rights to Cardiovascular Therapy in $2bn Deal

2024-10-09T09:36:00-00:00

AstraZeneca in-licensed a preclinical small molecule lipoprotein (a) (Lp(a)) disruptor from China’s CSPC Pharma. Lp(a) is similar to low-density lipoprotein (LDL), the “bad cholesterol.” It is a type of fat in the blood that carries cholesterol, causing arterial blockages similar to low-density lipoprotein (LDL). Lp(a) hasn’t been a drug target until recently. CSPC will receive a $100 million upfront payment and could receive up to $1.9 billion in milestones plus tiered royalties. More details....

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Astellas Options Gene Therapy for Rare Disease in $2.2bn Deal

2024-10-08T10:58:00-00:00

Tokyo’s Astellas Pharma signed an option to acquire global rights for a neurology gene therapy from AviadoBio of London. The candidate, AVB-101, is an AAV-based gene therapy currently in a Phase I/II trial for patients with a frontotemporal dementia with mutations in progranulin (FTD-GRN). Astellas will invest $20 million in AviadoBio and pay $30 million in upfront payments to acquire the option. If the option is exercised, AviadoBio is eligible for up to $2.2 billion in license fees and milestones plus royalties.More details....

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Week in Review: Regor Sells Two CDK Inhibitors to Genentech for $850m

2024-10-05T09:36:00-00:00

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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Caliway Stages Taiwan IPO at $3 Billion Valuation

2024-10-04T09:34:00-00:00

Caliway Biopharmaceuticals IPO’d on the Taiwan Exchange (TWSE-6919) to support its portfolio of medical aesthetic and inflammatory disease candidates. The listing, which valued the company at nearly $3 billion, raised $206 million. It is a record for the largest IPO of a biopharma company in Taiwan’s history. Caliway is ready to start Phase III trials of its lead product, CBL-514, an injection that induces adipocyte apoptosis to reduce subcutaneous fat in targeted areas. More details....

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Flagship and A*STAR Partner to Form Singapore Companies

2024-10-03T09:48:00-00:00

Flagship Pioneering, a Cambridge, MA company, and Singapore’s A*STAR formed a collaboration to back new Singapore-based health and sustainability companies. In a MOU, the two companies agreed to contribute a total of US$77 million over five years, with the goal of creating new companies in Singapore. Flagship, a combination of startup and venture capitalist, forms its own companies with its own capital. The process starts with a “farfetched” question that sometimes becomes a company if the concept seems viable. Flagship supports the young company initially but expects other VCs to fund later development. More details....

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GenEditBio Lands Strategic Investment for Gene Therapies

2024-10-02T09:24:00-00:00

Hong Kong’s GenEditBio received a “strategic investment” from AEF Greater Bay Area Fund, which is managed by Gobi Partners GBA. Although the size of the venture capital funding was not disclosed, the three-year-old company doesn’t appear to have any trouble raising money. Earlier this year, it closed a $90 million round and didn’t publicize the milestone. GenEditBio plans to offer affordable "precision DNA surgery" for genetic diseases, replacing life-long therapies with a one-and-done gene therapy. More details....

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Kailera Breaks Out of Stealth Mode with $400m and Hengrui Assets

2024-10-01T09:44:00-00:00

Kailera Therapeutics launched with a four-drug pipeline aimed at the very crowded target of obesity. The company was formed by four US venture capital companies who funded the startup in a $400 million Series A round. In May, Jiangsu Hengrui announced a $6 billion deal, heavily backloaded, with Kailera, then known as Hercules. Hengrui also received a 19.9% share of Kailera as part of the deal. Kailera, with facilities in the Boston area and San Diego, now has an experienced biopharma CEO, a Board of Directors, and a portfolio of Hengrui’s obesity candidates. More details....

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Regor Out-Licenses Two CDK Inhibitors for $850m Upfront

2024-09-30T11:21:00-00:00

Regor Pharma, a Shanghai-Boston biotech, sold global rights to Genentech for two early-stage CDK inhibitors (CDKIs) aimed at breast cancer. Regor will receive $850 million upfront, a hefty amount for two Phase I candidates. The company will also be eligible for an undisclosed amount of milestone payments, both developmental and commercial. Roche, Genentech’s parent, said the novel candidates add new targets to its stable of three existing breast cancer drugs (plus a fourth candidate up for FDA approval). More details....

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Week in Review: Zenas Raises $259m in IPO

2024-09-28T08:13:00-00:00

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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TJ Biopharma Sells Rights to Lead Drug for $237m

2024-09-27T09:47:00-00:00

Hangzhou’s TJ Biopharma sold the China rights for its CD73-targeted antibody to Sanofi in a deal worth up to $237 million. The antibody, uliledlimab, is designed to modulate the tumor microenvironment. Earlier this year, TJ became the heir to I-Mab’s China assets, including uliledlimab, when I-Mab moved its operations to the US. TJ will receive $36 million in an upfront payment and near-term milestone payments plus additional milestones that could bring the package to $237 million. More details....

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Bayer Opens Shanghai Incubator to Nurture Innovation

2024-09-26T10:07:00-00:00

Germany’s Bayer opened its newest life science incubator, Bayer Co.Lab Shanghai, in Shanghai’s Zhangjiang Park. The company positioned its newest outreach center as part of the company’s external innovation strategy. The facility offers open collaboration with China startups on a ‘no strings attached’ basis. Bayer says the new Shanghai incubator is evidence of its commitment to innovative investing in China, which remains a key market for Bayer that it wants to expand. While many outside biopharmas have become cautious about their China activities, Bayer is increasing its presence. More details....

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AstraZeneca Plans to Help Korean Companies Enter China

2024-09-25T10:27:00-00:00

AstraZeneca Korea has devised a new way to partner with young Korean biohealth companies. It plans to stage the AstraZeneca K-Bio Expressway contest for novel Korean biohealth companies that plan to enter China’s market. The two winners of the contest will receive some cash and guaranteed entry into iCampus, AZ’s open innovation hub in Wuxi, China. Interested companies must submit their proposals by October 11^th. Between six and eight companies will be selected to visit the iCampus, and two of them will be chosen for the iCampus program during a pitching session on November 4. More details....

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LongBio Raises Venture Funds for Asthma and Complement Candidates

2024-09-24T09:56:00-00:00

LongBio Pharma (Suzhou) completed a Series B2 round that was led by Qiming Venture Partners. Venture capital events for China biopharmas have been near-dead in 2024, though Qiming’s investment shows the sector still has some life. The B2 round totaled “tens of millions of RMB” (each 10 million RMB is worth about $1.4 million). The company is developing ten projects with two candidates in clinical trials, all on a relatively small $33 million of previously raised VC funding. More details....

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Zenas Stages US IPO for Autoimmune Candidate

2024-09-23T10:43:00-00:00

Zenas BioPharma raised $259 million in a rare US biopharma IPO. The offering was priced at $17 per share, the middle of the expected range. The company will use the funds to complete late-stage development of its lead product, obexelimab. Founded in 2019, Zenas was originally headquartered in Shanghai, but has now moved to the Boston area while maintaining a China presence. The Zenas IPO was one of three US biotech IPOs conducted on the same day, raising a total of $700 million and also raising biotech investor hopes that an IPO revival could be possible. More details....

Stock Symbol: (NSDQ: ZBIO)

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Week in Review: Nippon Shinyaku Signs $735m Deal for DMD Therapy

2024-09-21T07:55:00-00:00

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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Celregen Raises Funds for Cell Therapies in Angel Round

2024-09-20T09:28:00-00:00

Hangzhou Celregen Therapeutics raised “tens of millions RMB” to advance its regenerative medicine and cell therapy products. The company is a subsidiary of Fosun Pharma that was incubated by the New Drug Fund of Fosun Health Capital. Fosun’s New Drug Fund also led the latest angel round together with the Jiaxing Chuangyan Fund of Shanghai Creation Investment. During its corporate life, Celregen has been operating mostly in stealth mode, though two years ago, it briefly surfaced to announce it had in-licensed Greater China rights for a corneal endothelial cell regenerative therapy from Cellusion in a $100 million deal. More details....

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QL Bio Enters GLP-1 Space with Long-Acting Candidate

2024-09-19T10:00:00-00:00

Beijing QL Biopharma broke new ground in the crowded GLP-1 marketplace with news that ZT002 was effective in a once-monthly dosing regimen. In a small Phase I China trial, 20 overweight/obese patients were treated biweekly with either 40 or 80 mg of ZT002. After a six-week layoff, the 80mg patients were invited to continue the trial with a 120 mg dose and a once-monthly dosing regimen. Their weight loss improved to 17.1% at 30 weeks. QL will pursue the once-monthly schedule in a China Phase II trial of ZT002, already underway. More details....

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Nippon Shinyaku Signs Up for EU Rights to Rare Disease Drug

2024-09-18T09:54:00-00:00

Japan’s Nippon Shinyaku will acquire European rights for a Duchenne muscular dystrophy disease therapy developed by Capricor Therapeutics of San Diego. The agreement comes as no surprise: Nippon Shinyaku has previously signed similar deals for the candidate in the US and Japan. Capricor’s lead asset, deramiocel, consists of allogeneic cardiosphere-derived cells (CDCs), a population of stromal cells that have lowered inflammation in dystrophy and heart failure. In the latest deal, Nippon Shinyaku will pay $20 million upfront and up to $715 million in milestones, plus royalties. The two companies signed a binding term sheet that will be finalized in Q4. More details....

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Organon Pays $12 Million for Assisted Reproduction Candidate

2024-09-17T09:46:00-00:00

Organon China, a women’s health company, acquired China rights to an ovarian stimulation therapy from Shanghai Bao Pharmaceuticals. SJ02 was developed for patients in assisted reproductive programs. The candidate is a long-acting product designed to develop multiple follicles for one week after a single dose, while the current standard of care requires daily shots for a week. Bao has filed a BLA with China regulators for SJ02. If approved, the candidate will be the first long-acting ovarian stimulation product in China. Organon will pay $12 million upfront for the rights plus unspecified milestone payments. More details....

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Fosun Buys Out CAR-T Partner Kite for $27m Plus Earnouts

2024-09-16T10:01:00-00:00

Shanghai’s Fosun Pharma announced plans to buy out its JV partner, Kite Pharma, gaining full control of the JV’s two CAR-T products in China. In 2017, Fosun paid $95 million for a 50% stake in a JV with Kite that was formed to bring Kite’s lead product, Yescarta, to China. Now, Fosun will buy out Kite’s 50% stake in the JV for $27 million plus invest $10 million in Fosun Kite. Fosun Kite holds China rights for Yescarta, and it is also developing a second Kite-sourced CAR-T candidate, FKC889 (brexucabtagene autoleucel). Yescarta was China’s first approved CAR-T therapy. More details....

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Top Five Asia BioPharma Deals During August 2024

2024-09-15T15:40:00-00:00

Summer may usually be a slow time for biopharma M&A globally, but Asia companies booked five deals worth $1 billion or more during August of this year. Even though much of Asia’s deal making has diminished over the last three years, the in-/out-licensing of assets continues to be robust. The old necessities continue, no matter the larger reality: young biopharmas need capital while more established companies need novel drug candidates. All together, the top five August deals total $6.9 billion in potential value. The five Asian companies are: ImmuneOnco, Eisai, Curon, Otsuka, and Multitude. More details....

Aurora, a Public-Private RNA CDMO, Opens in Australia

2024-09-13T09:41:00-00:00

Aurora Biosynthetics, a Sidney company, launched to offer manufacturing services for RNA therapeutics to the Asia-Pacific region. Aurora is a division of Myeloid Therapeutics, a three-year-old RNA company headquartered in Cambridge, Mass. Aurora is a public-private partnership between the New South Wales Government, which contributed $200m Australian ($134m US) for the construction; RNA Australia; and Myeloid Therapeutics. The facility will supply Myeloid with its own RNA products, while Aurora will also manufacture products for other companies. Terms of the partnership were not disclosed. More details....

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Summit Completes $235m Funding for Ivonescimab Trials

2024-09-12T09:48:00-00:00

Miami’s Summit Therapeutics raised $235 million from a combination of company insiders and biopharma investors. Two years ago, the company acquired global (ex-China) rights to ivonescimab, a bispecific PD-1/VEGF candidate, from Guangzhou’s Akeso in a $5 billion deal. It was an expensive acquisition ($500 million upfront), but it was perceptive. Over the weekend, Akeso announced ivonescimab out-performed Merck’s Keytruda in non-small cell lung cancer patients. Summit’s stock price has more than doubled since the announcement, partly because of the trial results and partly due to the $235 million capital raise. Summit now has a market capitalization of $16.5 billion. More details....

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Astellas Opens Center for Massachusetts Biopharma Hub

2024-09-10T09:57:00-00:00

Astellas opened a new innovation center in Cambridge, Mass that will build a Massachusetts research network to develop breakthrough therapies. The Astellas Life Sciences Center (ALSC) will connect incubators, biotechnology start-ups and academia. The facility will also contain the first US-based SakuLab™ incubator space, a shared laboratory for innovative external partners. Previously, Astellas has opened a SakuLab™ in its Japanese Research Center. Cambridge is the preeminent US biomedical hub, and with the new facility, Astellas plans to participate in its scientific growth. More details....

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