China Everbright Limited, a Hong Kong firm, held its first closing of $155 million for the third iteration of its life science investment vehicle, Everbright Medical & Healthcare Fund III. The company expects its third fund to eventually raise $216 ...

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China Everbright Raises $155 Million for Third Life Science Fund

Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.

China Everbright Limited, a Hong Kong firm, held its first closing of $155 million for the third iteration of its life science investment vehicle, Everbright Medical & Healthcare Fund III. The company expects its third fund to eventually raise $216 million. The first closing brings the total assets of Everbright's three healthcare funds to $432 million. Everbright invests over all stages of companies involved in pharma-biotech, health services, medical consumables, devices and equipment. It also participates in restructurings of China stage-owned enterprises. More details....

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Zai Lab Ok'd to Launch PARP Inhibitor in Hong Kong

Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.

Zai Lab of Shanghai was approved in Hong Kong to market Zejula® (niraparib), an oral, once-daily PARP inhibitor for adult ovarian cancer patients. The approval of Zejula was based on the global Phase III trial of Zejula sponsored by Tesaro. Zai in-licensed China rights (including Hong Kong) to the drug from Tesaro in 2016. It is Zai's first marketing approval, and the company expects to launch Zejula before the end of the year. Zai is continuing to conduct China trials of Zejula. More details....

Stock Symbol: (NSDQ: ZLAB)

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Reistone of Shanghai Approved for US Phase II Trial of UC Treatment

Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.

Reistone Biopharma, a Shanghai startup, announced FDA approval to start a US Phase II clinical trial of a Janus Kinase 1 inhibitor (JAK1) in patients with ulcerative colitis.  Reistone said the approval is a first step towards a simultaneous clinical testing of the candidate in China, the US and several EU countries. Reistone in-licensed the JAK1 inhibitor from Jiangsu Hengrui, which also backs Reistone. Formed in January 2018, Reistone focuses on globalizing innovative drugs developed in China by companies like Hengrui. More details....

Stock Symbol: (SHA; 600276)

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Week in Review: Innovent's Hong Kong IPO: Raising $422 Million at $2 Billion Valuation

Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.

Deals and Financings 

  • Innovent Biologics of Suzhou plans to raise $422 million at a $2 billion valuation in its Hong Kong IPO, scheduled for completion this month;
  • HiFiBiO Therapeutics, a Boston, Paris and Shanghai company, acquired H-Immune, a French biotech with an in vitro immunization-based antibody generation platform;
  • iCell Gene Therapeutics, a New York-Zhongshan biopharma, formed a research partnership with LineaRx to transform iCell's CD-19 CAR-T candidate into a non-viral, plasmid-free candidate;
  • Genecast Biotechnology of Beijing acquired exclusive China rights from Cancer Genetics to a Tissue of Origin test for difficult-to-identify tumors;

Trials and Approvals 

  • Suzhou's Alphamab Oncology received US approval of an IND for KN026, its proprietary bispecific HER2 antibody, following the start of Phase I China trial earlier this year;
  • CStone Pharmaceuticals of Suzhou announced US approval of its IND for CS1001, a novel PD-L1 candidate;
  • Ascletis Pharma of Hangzhou reported that its second hepatitis C treatment, ravidasvir, has been included in China's list of Proposed Priority Review drugs;
  • Singlera Genomics, a San Diego-Shanghai diagnostics company, said its ColonES blood-based colorectal cancer diagnostic showed high sensitivity and specificity in an early China test;
  • Hutchison China MediTech started a China Phase I trial of its novel spleen tyrosine kinase (Syk) inhibitor as a first line treatment for AML.

Stock Symbols: (NSDQ: CGIX) (HK; 1672) (AIM/NSDQ: HCM)

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Genecast Acquires China Rights to Tumor Test from Cancer Genetics

Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.

Genecast Biotechnology of Beijing acquired exclusive China rights to the Tissue of Origin (TOO) test for difficult-to-identify tumors developed by Cancer Genetics of New Jersey. TOO, a microarray-based gene expression test, analyzes a tumor's genomic information to identify its origin, which helps to classify metastatic, poorly differentiated, or undifferentiated cancers. Founded in 2014, Genecast has developed circulating tumor DNA (ctDNA) detection technology that provides individualized cancer diagnoses. Last year, the company raised $18 million in a Series B round led by Tshinghua Holdings. More details....

Stock Symbol: (NSDQ: CGIX)

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Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.


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