Biocytogen Pharma (Beijing) out-licensed fully human antibody molecules to Jiangsu Hansoh Pharma for a target designated by Hansoh. Hansoh will have global rights to the molecules, which were discovered and developed on Biocytogen’s RenMiceTM platforms. Biocytogen will receive an upfront payment plus milestones of up to tens of millions of Chinese yuan, along with single-digit royalties on net sales, though no specific details were disclosed. Hansoh is a large China pharma that is actively making deals to expand its portfolio of novel drug offerings. More details....

Stock Symbols: (HK: 02315) (HK: 3692)

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ProfoundBio, a Seattle-Suzhou company, has begun a first-in-human US Phase I trial of a proprietary ADC in patients with solid tumor cancers. The candidate, PRO1184, is an ADC that combines a folate receptor alpha-directed antibody conjugated to the exatecan payload using ProfoundBio's proprietary hydrophilic linker (exatecan is a novel synthetic camptothecin derivative). In July 2022, ProfoundBio was approved to start a US Phase I of PRO1160, an ADC that joins a CD70-directed antibody to the exatecan payload. More details....

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A Look at 2022 China Biopharma Deals in Review

• The value of the top ten 2022 China life science deals totaled $21.5 billion led by the three Kelun-Biotech out-licensing deals with Merck worth $11.8 billion,

Deals and Financings

• Shandong Boan Biotech, a Luye Pharma subsidiary, completed a $20 million IPO in Hong Kong to support its portfolio of biosimilars and novel mAb candidates;
• Shanghai Junshi Biosciences out-licensed Middle East/North African rights to its lead drug, the anti-PD-1 toripalimab, to Hikma Pharma;
• WuXi XDC, a bioconjugate CRMO, will promote Suzhou GeneQuantum Healthcare’s drug development platforms globally to advance bioconjugate development;
• Shanghai Ablaze Pharma announced a development services agreement to develop radiopharmaceutical therapies with Zhejiang’s Yonghe Pharma;

Company News

• Shanghai Everest Medicines started operations in its $130 million mRNA vaccine production facility located in Jiashan, Zhejiang Province;

Trials and Approvals

• Beijing InnoCare Pharma was approved for a Hong Kong launch of tafasitamab, a Fc-modified cytolytic CD19 immunotherapy, in patients with diffuse large B-cell lymphoma.

Stock Symbols: (HK: 6955) (HK: 1877; SHA: 688180) (HK: 1952) (HK: 09969; SHA: 688428)

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2022 China Biopharma deal activity was certainly slower than last year, but the ten largest deals, many of them booked in the second half of the year, totaled a decent $21.5 billion by themselves (see story). Most spectacular were the three Kelun-Biotech out-licensing pacts with US-based Merck worth $11.8 billion, including a huge $9.5 billion December agreement. In addition, China life science venture capitalists got busy during the summer months, announcing a total of $12 billion in new funds from four well-known firms for future investments. The 2022 deal flow may have declined from 2021, but the year was not a bust. We list 2022’s ten largest China biopharma deals and the four biggest venture raises for life science. More details....

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Shandong Boan Biotech. a Luye Pharma subsidiary, completed a $20 million IPO on the Hong Kong Exchange to support its portfolio of biosimilars and novel mAb candidates. In 2019, Luye acquired Boan at a rumored price of $205 million after Luye in-licensed rights to four of Boan’s biosimilars. Founded in 2013, Boan is developing 12 products for oncology, metabolism, autoimmunity and ophthalmology. In its portfolio, the company has two approved biosimilars, another three biosimilars in China Phase III trials, three innovative drug candidates and six undisclosed molecules. Boan’s new shares, which began trading today, closed the session unchanged. More details....

Stock Symbol: (HK: 6955)

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