Fresh off announcing a new $1.2 billion joint drug discovery and development project with Sanofi SA, Insilico Medicine Inc. founder and CEO Alex Zhavoronkov joined a chorus of executives at the Asia Summit on Global Health in proclaiming the critical importance of partnership between biopharma, tech companies, and regulators, even amid rising tensions between China and the West.
Avita Medical Ltd.’s Recell system won FDA breakthrough device designations in soft tissue repair and vitiligo. Melbourne-headquartered Avita, a regenerative medicine company developed the Recell system, a technology platform that enables point-of-care autologous skin restoration.
Broncus Holding Corp.’s disposable nebulizing microcatheter for an endoscope has been approved by China’s NMPA. The product Mist Fountain is the only nebulizing micro-catheter product available on the Chinese market to treat lung disease, according to the company.
Think Surgical Inc. has just received a $100 million investment from a new investor, South Korea’s KDB Investment Global Healthcare, a private equity firm that is wholly owned by Korea Development Bank. The Fremont, Calif.-based orthopedic surgical robotic company will use the funds to bring new products to market. Stuart Simpson, president and CEO of Think Surgical, confirmed that it will go towards supporting “successful new product commercialization.”
China’s National Medical Products Administration (NMPA) established new medical device regulations earlier in the year aimed at spurring innovation and creating regulatory incentives, and although the regulation has shortened review and approval timelines, other benefits are less clear, experts said.
Ariemedi Medical Technology (Beijing) Co. Ltd. has completed a series A+ round to further develop its medical devices for minimally invasive surgeries. The round was co-invested by Haining Hairui Investment Management Co. Ltd. and Haier Capital.
Jiangsu Cowin Biotech Co. Ltd. has raised ¥1.14 billion (US$156 million) in a listing on the Shanghai STAR Market. Its shares opened at ¥42.96 apiece, plunged over 13% by the middle of the day but closed at ¥43.62 on the first trading day on Oct. 25.
Nousq Pte Ltd. has been declared the winner of the 2022 Asia Pacific Accelerator program with its pediatric ear tube insertion device. Singapore-based Nousq’s victory was determined by a live audience vote on during the Medtech Innovator Asia Pacific 2022 Grand Finals, organized by medical device accelerator Medtech Innovator and the Asia Pacific Medical Technology Association (APACMed).
Molecular Sensoring Technology Co. Ltd. (Molsentech) has developed a diagnostic platform using semiconductor chips with biosensors for COVID-19 testing. The platform could deliver a result anywhere from three to 30 minutes, with accuracy compatible to the polymerase chain reaction (PCR) tests.
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