China Resources Biopharmaceutical Co. Ltd. (CR Biopharm) raised ¥600 million (US$89 million) in a series B round led by China Structural Reform Fund Co. Ltd.
CAR T specialist Carsgen Therapeutics Holdings Ltd. out-licensed commercial rights for its B-cell maturation antigen (BCMA) CAR T therapy, CT-053, in mainland China to Huadong Medicine Co Ltd. in a deal worth up to $152 million.
China Resources Biopharmaceutical Co. Ltd. (CR Biopharm) raised ¥600 million (US$89 million) in a series B round led by China Structural Reform Fund Co. Ltd. Beijing, China-based CR Biopharm plans to use the funds to accelerate the discovery of biological drugs and support the ongoing clinical trials of its candidates, as well as look for in-licensing opportunities.
Deepwise Technology Co. Ltd.'s artificial intelligence (AI) device mammography screening software has been approved in China. The company claims that this is the first and only AI medical device that is approved for breast cancer in China.
China's National Healthcare Security Administration will not be adding Pfizer Inc.'s COVID-19 treatment Paxlovid to its list of medicines covered by basic medical insurance schemes in the country, due to its high prices.
Proposed mergers with Chinese companies will likely be subject to increased scrutiny from the Committee on Foreign Investment in the United States (CFIUS) as evidenced by the temporary hold placed on the merger between F-star Therapeutics Ltd. and Sino Biopharmaceutical Ltd.’s Invox Pharma Ltd. that was announced in June 2022.
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.
Clinical trials in China are growing up in much the same way the R&D enterprise in China has grown up. They are evolving and becoming more sophisticated, reflecting the maturation of the R&D environment around them.
Baili Biopharmaceutical Co. Ltd. has raised ¥990.47 million (US$146 million) on the Shanghai STAR Market. Its shares opened Jan. 6 at ¥28.75 apiece, surging over 30% its first trading day, and closing at ¥38.40 on Jan.9.
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.
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