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Recent Articles

D3 Bio Raises $62 Million in Series A+ Round for Next-Gen KRAS G12C Inhibitor
Apr 8, 2024

D3 Bio, a Shanghai oncology biotech, closed a $62 million Series A+ financing round, a large amount for an early-stage company in the past few years. The funding will use the funds to ramp up development of D3 Bio's preclinical assets and a global clinical trial of D3S-001, a next-gen small molecule KRAS G12C inhibitor that the company believes has best-in-class potential. The A+ round was led by Medicxi, a European life sciences investment firm. In 2020, D3 Bio raised an impressive $200 million in a Series A round. More details....

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Jiuyuan Gene Engineering Files for China Approval of Ozempic Biosimilar
Apr 8, 2024

Hangzhou Jiuyuan Gene Engineering, along with its major shareholder, Huadong Medicine, has filed for approval of Jiyoutai, its biosimilar to Novo Nordisk’s Ozempic (semaglutide), a weight loss drug. Novo Nordisk holds patent rights to the drug in China until 2026. Ozempic was the world's best-selling diabetes drug last year, even though most of the sales came from people using the drug to lose weight. The active ingredient of the drug, semaglutide, is also used at a lower dose in Novo’s Wegovy, which targets weight loss. Jiyoutai could become the first approved China developed semaglutide biosimilar. More details....

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Week in Review: ProfoundBio, a Seattle-Suzhou ADC Biotech, Acquired by Genmab for $1.8 Billion
Apr 6, 2024

Deals and Financings

  • ProfoundBio, a Seattle ADC company with an R&D facility in Suzhou, will be acquired by Copenhagen’s Genmab A/S in a $1.8 billion all-cash deal;
  • Shanghai's Visen Pharma plans to stage an IPO in Hong Kong to develop three rare disease endocrine therapies, acquired from its parent, Ascendis of Denmark;
  • Insilico Medicine, an AI drug discovery-development company based in Hong Kong and New York, completed an initial filing for a Hong Kong IPO;
  • China Medical System in-licensed an oral JAK1 inhibitor, from San Francisco’s Incyte for autoimmune and inflammatory dermatologic diseases;

Company News

  • Aurisco Pharma expanded its cGMP peptide manufacturing site in Yangzhou to offer multi-metric ton capacity for generic GLP-1 peptides;

Trials and Approvals

  • Suzhou’s Innovent Biologics and HutchMed of Shanghai filed an NDA in China for a combination therapy aimed at advanced endometrial cancer;
  • Zai Lab said its partner Bristol Myers Squibb completed a pivotal Phase III trial showing Krazati® was effective in NSCLC with a KRASG12C mutation;
  • Jiangsu Ractigen Therapeutics dosed the first patient in a Phase I trial of its lead candidate, an saRNA therapy for non-muscle invasive bladder cancer;
  • Taiwan’s PharmaEssentia reported positive data from studies of its ropeginterferon alfa-2b therapy in patients with polycythemia vera, a type of chronic leukemia;
  • Yantal’s RemeGen was granted Fast Track Designation in the US for its novel dual-target fusion protein candidate for primary Sjögren's syndrome.

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Visen Pharma Plans Hong Kong IPO to Support Endocrine Therapies
Apr 5, 2024

Shanghai's Visen Pharma announced plans to stage an IPO on the Hong Kong Exchange. The company will use the proceeds to support its portfolio of three clinical stage rare disease endocrine therapies, including growth hormone deficiency. In 2018, Visen was formed by Ascendis Pharma A/S of Denmark to bring its therapies to China. Ascendis partnered the venture with an investor syndicate led by Vivo Capital and Sofinnova that contributed $40 million in capital for a 50% stake. In 2021, Visen closed a $150 million Series B financing led by Sequoia China. More details....

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Aurisco Pharma Expands Yangzhou CRDMO Facility for Generic GLP-1 Peptides
Apr 5, 2024

Aurisco Pharmaceutical has completed the expansion of its cGMP peptide manufacturing site in Yangzhou that will offer multi-metric ton capacity to produce the company’s generic GLP-1 peptides. The facility, which expects to start operations in mid-2024, will initially pursue commercial scale validation of recombinant Semaglutide. The site also offers CRDMO services for synthetic and recombinant peptides and oligonucleotides. Established in 1998, Aurisco is headquartered in Zhejiang Tiantai, with an R&D center in Shanghai and facilities in Yangzhou, Tiantai, Hangzhou and Tianjin. More details....

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