Alphamab Oncology, a clinical-stage Suzhou biopharma, completed a Series A funding with over $100 million in capital (see story). Earlier this year, Alphamab Oncology was spun out of Suzhou Alphamab with seven oncology assets and related technology platforms, including biospecific, protein engineering and antibody screening technologies. Stressing its novel immunocology candidates, Alphamab Oncology is focused on developing multi-functional cancer biologics, aiming at next-gen or best-in-class medicines that address global needs. The company has four candidates in clinical trials in the US, China, Japan and Australia.
Huadong Medicine (SHZ: 000963) closed its $222 million acquisition of Sinclair Pharma (L: SPH), a global aesthetics company headquartered in London. Huadong is also a maker of aesthetic products and plans to bring Sinclair’s offerings to China while it builds a larger presence for both companies’ offerings in the US. Sinclair, on the other hand, says it will use Huadong’s backing to increase its own portfolio of longer-duration, minimally-invasive anti-aging treatments.
Eli Lilly (NYSE: LLY) may sell China rights to a portfolio of older, off-patent antibiotics and CNS treatments in a deal that could bring between $200 and $300 million, industry sources said (see story). No specific drugs were named, and media reports did not disclose how many drugs might be included. Lilly wants to emphasize higher margin products, especially cancer drugs, and the company has been selling assets to raise cash that will be allocated to fund its new priorities.
Ascletis BioScience (HK: 1672) of Hangzhou acquired exclusive sales and marketing rights to Pegasys, a Shanghai Roche pegylated interferon used to treat hepatitis B and C (see story). Lindi Tan, PhD and CFO of Ascletis, told ChinaBio® Today that the agreement was a “transformational” event for Ascletis, because it gives the company’s 145-member sales team two hepatitis products to market. In June, Ascletis received China approval for Ganovo® (danoprevir), a novel direct acting anti-viral, as a treatment for hepatitis C. Pegasys is the leading interferon drug in China’s hepatitis B market.
