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Huisheng Biopharmaceutical, a non-wholly owned subsidiary of Sihuan Pharmaceutical, announced that it completed Series A financing worth RMB 500 million RMB ($70 million). The round was led by China Life Private Equity Investment, Grand Flight Investment, Yuanyi Jimao Equity Investment and Ginko Capital.
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Since 2021, Induced multifunctional stem cells (iPSC) have triggered a funding boom and several Chinese companies rushing into the iPSC space.
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Arnita Therapeutics announced the completion of a round of Seed financing worth nearly 100 million RMB led by Apricot Capital. The company will use the funds to develop its R&D platform based on antisense nucleic acid bidirectional regulation technology and to advance multiple innovative drug pipelines.
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In August, China saw the approval of only one new molecular entity (NME), Sinocelltech’s CD20 antibody ripertamab (SCT400). Another two homegrown companies, Zelgen and Alphamab, gained new indications and dosing regimens for their self-developed products as well.
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China NMPA Approval Tracker
Worg Pharmaceuticals announced the completion of a round of Series B financing worth 400 million RMB.
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InnoBM Pharmaceuticals raised nearly $2.88 million in series A+ financing led by Yuanbio Venture Capital to advance novel therapeutics to boost the efficacy of tumor immunotherapy.
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Hangzhou-based drugmaker U-protech announced that it has completed an angel round of funding from Shanghai Biomedical Innovation and Transformation Fund along with an angel + round of funding from Zheshang Venture Capital. The company has raised nearly $2.9 million in capital.
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China’s pursuit of innovative oncology drugs remained intense in July, as Chinese regulators granted the first marketing approval for three drugs, namely Simcere’s Cosela (trilaciclib), Lepu Biopharma’s Puyouheng (pucotenlimab) and Roche’s Rozlytrek (Entrectinib).
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China NMPA Approval Tracker
The approval of OcuMension Therapeutics’ YUTIQ was based on RWD collected in Hainan province and the phase III clinical trials that have been completed outside of China.
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China NMPA Approval Tracker
A handful of Chinese drugmakers are developing multi-targeted GLP-1R drugs for diabetes, but Doer Biologics is taking it a step further by developing the world's first GLP-1R/GCGR/FGF21R triple-target agonist.
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