Aptorum Group, a preclinical Hong Kong pharma, completed a $12 million IPO on the NASDAQ exchange. The company is developing therapeutic drugs, many of which are based on natural substances, along with surgical robotic devices. It expects to file for ...


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Hong Kong's Aptorum Stages $12 Million US IPO for Drug Development

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

Aptorum Group, a preclinical Hong Kong pharma, completed a $12 million IPO on the NASDAQ exchange. The company is developing therapeutic drugs, many of which are based on natural substances, along with surgical robotic devices. It expects to file for approval of at least one of its three lead products in the US, China or the EU by 2021. In the IPO, the company placed 761,419 Class A Shares at a price of $15.80 per share, but in their first trading session, the shares lost 11%, dropping to $14.00. More details....

Stock Symbol: (NSDQ: APM)

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VoxelCloud Raises $50 Million for AI-based Clinical Decision Support

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

VoxelCloud closed a $50 million Series B funding to support its AI-based automated medical image analysis and clinical decision support systems. Founded in 2015, VoxelCloud has offices in Los Angeles, Suzhou and Shanghai. The company believes its next-generation artificial intelligence and cloud computing -- along with first-class data -- will help realize its global goals. It currently offers automated reading of scans for lung cancer, retinal diseases, and coronary heart disease. More details....

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Innovent Forms Three-Drug $391.5 Million Collaboration with Incyte

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

Suzhou Innovent formed a $391.5 million collaboration for China rights to three clinical-stage drug candidates developed by Incyte of Palo Alto, CA. Innovent will make a $40 upfront payment, then follow with a $20 million milestone payment when it files its first China IND. It will also be responsible for $331.5 million in development, regulatory and commercial milestones. For Innovent, the agreement is the first time the company has ventured outside of its primary focus on antibody candidates. It expects to file the first IND in 2019. More details....

Stock Symbols: (HK: 01801) (NSDQ: INCY)

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I-Mab Out-Licenses Rights for Diabetes Drug to CSPC for $22 Million

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

I-Mab Biopharma of Shanghai partnered greater China rights for its long-acting GLP-1 Fc type 2 diabetes product to CSPC Pharma in a $22 million agreement. TG103's long-acting formulation allows once-weekly or bi-weekly subcutaneous administration. CSPC will make a $2 million upfront payment and up to $20 million in milestones. I-Mab will also receive royalties on sales, while CSPC will contribute to development expenses. I-Mab was formed in early 2017 with backing from C-Bridge Capital and Tasly Pharma. More details....

Stock Symbol: (HK: 01093)

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Week in Review: Two China Biopharmas Raise $1.4 Billion in Hong Kong IPOs

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

Deals and Financings 

  • WuXi AppTec, China's largest CRO/CMO, completed its $967 million IPO in Hong Kong and finished its first trading day at the offer price;
  • Shanghai Junshi Bioscience will raise up to $414 million in a Hong Kong IPO to support its antibody portfolio, including the first PD-1 candidate with an accepted China NDA;
  • WuXi Biologics formed a $450 million partnership with Oxford Bio to develop five novel bispecific antibodies that will include next-gen immunotherapies;
  • WuXi Biologics will collaborate with Brii Bio, a China-US startup, to discover novel bispecific targets for infectious diseases and other immunologic disorders;
  • HiFiBiO Therapeutics, a Boston-Paris-Shanghai company, formed an immune modulation JV, Victa Biotherapeutics, based on myeloid-derived suppressor cells;

Trials and Approvals 

  • Zai Lab of Shanghai reported its China NDA for Zejula, a novel PARP1/2 drug, was accepted, its first NDA submission accepted in China;
  • Suzhou Innovent Biologics announced two China clinical trials of its Avastin biosimilar produced positive results;
  • Cerveau Technologies, a partnership that includes Beijing Sinotau, will start a Singapore trial of its PET imaging agent for neurofibrillary tangles in the brain;

Company News

  • Lonza, a Swiss CDMO, announced plans to partner with GE Healthcare to build a biologics manufacturing plant in Guangzhou, using GE's prefabricated factory.

Stock Symbols: (SHA: 603259; HK: 2359) (HK: 2269) (NSDQ: ZLAB) (HKEX: 01801)

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


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