Deals and Financings: Suzhou's Adagene plans to raise up to $125 million in a US IPO on the NASDAQ Exchange to support its portfolio of immunotherapy candidates; Elpiscience of Shanghai acquired China rights to a bispecific antibody being developed by ...

 


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Week in Review: Suzhou's Adagene to Stage $125 Million IPO on NASDAQ

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

Deals and Financings: 

  • Suzhou's Adagene plans to raise up to $125 million in a US IPO on the NASDAQ Exchange to support its portfolio of immunotherapy candidates;
  • Elpiscience of Shanghai acquired China rights to a bispecific antibody being developed by US-based TRIGR in a $117 million deal;
  • Suzhou Sinovent completed a pre-IPO financing of at least $30 million to develop its 12 biologic products;
  • Beijing's Immunotech Biopharm in-licensed China rights to a T-cell receptor therapy for renal cell cancer from T-Cure Bio of California;
  • Neurophth Therapeutics of Wuhan partnered with Delaware's AAVnerGene to develop adeno-associated virus capsids for ophthalmic gene therapies;
  • TenNor Therapeutics (Suzhou) will collaborate with Janssen, using its drug conjugation platform to discover new therapies for mycobacteria diseases;

COVID-19 Pandemic 

  • Sinovac Biotech of Beijing will expand production of CoronaVac, the company's inactivated COVID-19 vaccine, to produce two billion doses this year;
  • Jemincare Group of Nanchang started a China Phase I clinical trial of an anti-SARS-CoV-2 neutralizing antibody;

Trials and Approvals 

  • Seneca Biopharma, a Maryland-Suzhou company, reported mixed results from a China trial of its stem cell treatment for ischemic stroke;
  • Suzhou's Gracell Biotech will start a China trial of its FasTCAR cell therapy in adult patients with B-cell acute lymphoblastic leukemia;
  • EdiGene, a Beijing company, was approved to start China clinical trials of its gene-edited stem cell therapy to treat transfusion dependent β-thalassemia.

Stock Symbols: (HK: 6978) (NSDQ: SNCA) (NSDQ: GRCL)

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Sinovac to Expand Production of COVID-19 Vaccine to 2 Billion Doses

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

Sinovac Biotech of Beijing plans to start a second manufacturing line for CoronaVac, the company's inactivated COVID-19 vaccine, with the goal of producing two billion doses this year. CoronaVac is approved for emergency use in China, Indonesia, Brazil and Chile. Sinovac has announced various efficacy rates from clinical trials in several countries outside of China. The company insists the vaccine is 100% effective against serious forms of COVID-19, though it is less so against mild or medium-severity cases. More details....

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Adagene of Suzhou Files for $125 Million US IPO

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

Adagene, a Suzhou immunotherapy company, plans to raise up to $125 million in a US IPO on the NASDAQ Exchange. The company uses a computational AI-based discovery platform that studies the motion of proteins and their dynamic interactions to discover novel epitopes of drug targets, differentiating Adagene's candidates. It has novel antibodies in China and US trials that target CD137 in advanced solid tumors and non-Hodgkin's lymphoma, and. a masked anti-CTLA-4 mAb engineered for better safety by avoiding off-target activation. More details....

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Elpiscience Signs $117 Million Deal for TRIGR Bispecific

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

Elpiscience Biopharma of Shanghai acquired China rights to an anti-VEGFxDLL4 bispecific antibody being developed by TRIGR Therapeutics of Irvine, CA. TRIGR is already conducting a US Phase I trial of TR009 as a fourth-line therapy in patients with colorectal or gastric cancer. Elpiscience will make a $7 million upfront payment and be responsible for up to $110 million in milestones, plus royalties. An immunotherapy company, Elpiscience is developing 12 products including a bispecific anti-PD-1 in China trials. One year ago, the company raised $100 million in Series B funding. More details....

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Immunotech of Beijing In-licenses Immunotherapy from T-Cure

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

Beijing's Immunotech Biopharm in-licensed China rights to a T-cell receptor (TCR) therapy for renal cell cancer from T-Cure Bio of Sherman Oaks, CA. T-Cure isolates high avidity TCRs to engineer a patient's T cells, allowing them to target and destroy solid tumors. T-Cure's 800TCR, which targets HERV-E, is currently being tested in a US Phase I trial in patients with metastatic clear cell renal cell carcinoma. Details of the agreement were not disclosed. More details....

Stock Symbol: (HK: 6978)

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


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