Top news story of the day:
Chimigen Bio closes first round of funding worth RMB 100M to advance immunotherapy
Chimigen Bio has closed an initial funding round worth over 100 million RMB ($14.11 million) led by Lapam Capital and followed by Puhua Capital and Kingfriend Pharma.
The Chengdu-based firm specializes in innovative anti-viral and anti-tumor immunotherapies. This round of financing will be used to enrich its international team and to accelerate the entry of two initial products targeting hepatitis B and prostate cancer into clinical trials.
Chimigen Bio has developed a proprietary SynNeogen new vaccine technology platform with dual antigen and antibody (Ab) properties. It mimics the body's natural antigen uptake, processing and presentation to induce a broad range of antigen-specific, multi-epitope immune responses.
The company hopes to use the platform to convert immune-tolerant antigens into neoantigens”. These would break immune tolerance and re-establish antigen-specific immunity — especially for T-cell priming — to develop a therapeutic vaccine.
In other news:
CTTQ Pharma has acquired an interest in the pan-PPAR agonist lanifibranor (a Phase III clinical NASH new drug) in Greater China. Inventiva Pharma will receive an upfront payment of $12 million and potential milestone payments of up to $295 million.
Merck announced that it will invest € 29 million ($28.52 million) to build a biosafety testing laboratory in China. The first phase of the project, a virus clearance verification laboratory, has already opened. The company plans to provide cell line verification and batch release testing services.
By Sarina Yang