Week in Review: Pyrotech Closes $97 Million Series A Round for Immunomodulator Drugs

Deals and Financings

• Beijing’s Pyrotech Therapeutics completed a $97 million Series A funding to develop novel small molecule drugs that modulate immune responses for autoimmune diseases and cancer;
• Mirxes Holding, a Singapore RNA diagnostic company, closed a Series D funding round that raised $50 million, and the company has filed for a Hong Kong IPO;
• Shanghai MindRank completed an A+ round of $20 million to apply its AI-based drug discovery program to develop drugs and discover new candidates for other biopharmas;
• Pillar Biosciences, a Natick MA-Shanghai oncology testing company, partnered with Illumina to make Pillar’s genomic profiling assays for oncology available globally;

Trials and Approvals

• Shanghai Everest Medicines launched its first product in China, a novel antibiotic for difficult pathogens including multidrug resistant infections;
• Overland ADCT BioPharma’s BLA for Zynolonta® to treat diffuse large B-cell lymphoma was accepted for review by China’s NMPA;
• RemeGen reported that data from a Phase II trial published in a medical journal showed telitacicept was effective in treating Primary Sjögren's Syndrome;
• Hangzhou Ascletis said a combination of its PD-L1 inhibitor with a histone deacetylase inhibitor showed efficacy as a possible cure for HIV infection in a Phase II trial;
• Nanjing SunHo BioPharma started China Phase I/II trials of a B7H3-IL10 immunocytokine as a potential first-in-class therapy for advanced/metastatic solid tumors;
• San Francisco’s Viage Therapeutics reported patients experienced improved brain activity in a Phase I trial of an oral drug targeting the AVPR1A receptor in the gut.
  
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