For the last few years, Hong Kong has been the preferred financial hub for many Chinese health care companies to go public and raise money from global investors. “Biotechnology is today the fastest-growing IPO market segment,” said Nicolas Aguzin, CEO of HKEX, during the Hong Kong Exchanges and Clearing Ltd. (HKEX) Biotech Summit 2021.

Binhui Biopharmaceutical Co. Ltd.’s BS-001, a recombinant human oncolytic herpes simplex virus type-2 expressing GM-CSF for the potential treatment of solid tumors, has gained an IND approval from the FDA.

Beyondspring Inc. and Jiangsu Hengrui Pharmaceuticals Co. Ltd. entered a ¥1.3 billion (US$200 million) deal to commercialize and co-develop the former’s selective immunomodulating microtubule-binding agent plinabulin in greater China.

Brii Biosciences Ltd. made strides toward getting its SARS-CoV-2 neutralizing monoclonal antibody combination therapy, BRII-196/BRII-198, to market with positive interim phase III data that show high-risk outpatients may benefit from the combination therapy up to 10 days following symptom onset.

China’s ongoing efforts to tighten regulations across the board is hitting medical device companies. Two companies that issued shares in Hong Kong for the first time over the past week saw their shares tumble right out of the gate. Acotec Scientific Holdings Ltd. (HK: 6669) shares fell more than 25% on their first trading day on the Hong Kong Stock Exchange on Aug. 24 amid regulatory changes in China’s health care industry.

Binhui Biopharmaceutical Co. Ltd.’s BS-001, a recombinant human oncolytic herpes simplex virus type-2 expressing GM-CSF for the potential treatment of solid tumors, has gained an IND approval from the FDA. The development marks the first oncolytic viral candidate developed by a Chinese company to win a go-ahead for trials abroad, it said.