Skynor Medical (Shanghai) Co. Ltd. has raised ¥100 million (US$15 million) in a financing round to step up its efforts in product development and market expansion. More specifically, the Shanghai-based company intends to use the funds to develop its interventional treatment solutions for neuro and peripheral vascular diseases, as well as expand them to markets at home and abroad.
Raynovent Biotech Co. Ltd. has raised ¥370 million (US$54 million) in a series C round to further develop candidates in the field of respiratory and metabolic diseases. Funds will be used to accelerate clinical trials of lead candidates in its pipeline, as well as to prepare for the commercialization of oral pills to treat COVID-19 and influenza A virus.
Hightide Therapeutics Inc. closed a $107 million series C round that will advance multiple global development programs for lead candidate HTD-1801, including a phase III trial in type 2 diabetes.
China has adjusted the tariff lines and rates for 37 medical devices, including surgical robots, in its newly released Import and export tax rules of the PRC (2023).
Wuxi Biologics (Cayman) Inc. is providing an exclusive license to GSK plc for a preclinical bispecific T-cell engaging antibody along with the option of three additional bi- and multispecific TCE antibodies developed by Wuxi. In exchange, Wuxi will receive an up-front payment of $40 million and up to $1.46 billion in additional payments for research, development, regulatory and commercial milestones across the four TCE antibodies. Wuxi Biologics, of Shanghai, is also eligible to receive tiered royalties on net sales.
Sonoscape Medical Corp. obtained marketing approval in China for its intravascular ultrasound (IVUS) diagnostic device and intravascular ultrasound diagnostic catheter.
China’s NMPA has approved Merck & Co. Inc.’s COVID-19 treatment molnupiravir for emergency use to combat the increasing number of cases in the country.
Cryofocus Medtech (Shanghai) Co. Ltd. has raised HK$210 million (US$27 million) on the Hong Kong Stock Exchange. Its shares opened at HK$18.5 apiece, fell over 6% and closed at HK$17.66 on the first trading day of Dec. 30, 2022. Its shares closed at HK$16.8 per share on Jan. 3, 2023.
Jiangsu Recbio Technology Co. Ltd. released phase II data showing its recombinant two-component COVID-19 vaccine Recov appeared more effective than Comirnaty (tozinameran), the mRNA vaccine developed by Biontech SE and Pfizer Inc., as a booster for users of inactivated vaccines.
Investment in the fourth quarter of 2022 was dismal in Asia Pacific, as the global venture community focused on preserving capital. And the region faced other challenges throughout the year, as leaders in Australia and across Asia became acutely aware of the vulnerabilities in their supply chains. But the year also saw some big deals and collaborations involving companies across Asia Pacific, along with advances in regenerative and digital medicine.
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