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Week in Review: Shanghai Regor to Discover Metabolic Therapies for Lilly in $1.55 Billion Deal

publication date: Dec 11, 2021

Deals and Financings 

  • Shanghai Regor Therapeutics entered a $1.55 billion research pact with Eli Lilly to discover novel therapies for metabolic disorders;
  • Beijing Avistone Pharma, a precision oncology company, received a $200 million strategic investment led by Vivo Capital to combine with Pearl Biotech;
  • Hangzhou Innoforce brought its Series A round to $157 million with a $59 million tranche for its biopharma development/manufacturing operations;
  • METiS Therapeutics, a Cambridge, MA AI company, raised $86 million in a Series A Round from China investors;
  • CANbridge Pharma of Shanghai completed a $77 million Hong Kong IPO to develop its rare disease candidates;
  • RareStone, a Shanghai-Boston company, in-licensed greater China rights to a therapy for genetic obesity from Rhythm Pharma in a $75 million agreement;
  • Xcovery, a Florida  biopharma backed by Hangzhou's Betta Pharma, acquired a controlling stake in Meryx, a North Carolina immuno-oncology company;
  • Tianjin CanSinoBIO partnered with Ireland's Aerogen to supply inhalers for its nasal coronavirus therapy; 

Trials and Approvals 

  • Beijing Brii Biosciences reported China approved its combination mAb therapy for patients with mild COVID-19 at risk for disease progression;
  • Shanghai I-Mab said the first patient has been dosed in a US Phase I study of Protollin, a novel immune therapy for Alzheimer's disease. 

Stock Symbols: (NYSE: LLY) (HK: 1228) (SHA: 688185, HK: 06185) (HK: 2137) (NSDQ: IMAB)

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