Vaccine developer Shanghai Rongsheng Biotech filed for an IPO with Shanghai's STAR board to raise over RMB1.25 billion ($186.7 million) with Essence Securities as its sponsor. More news from Winsunny, Allist, Akeso.
The biotech deal making space in May 2022 saw Chinese drugmakers licensing out their assets for as much as a billion dollars. MSD and Turning Point Therapeutics gained China-originated cancer drugs in deals worth $2.63 billion.
Backed by CICC, Beijing Luzhu Biotechnology filed for an IPO in Hong Kong with plans to spend 40% of the proceeds on LZ901, a herpes zoster vaccine candidate. More news from Visum, Henlius, GenFleet, Bayer, Hengrui.
Westlake Therapeutics, an Hangzhou-based biotech company that focuses on red blood cell (RBC)-based therapy, has closed its Series A+ funding led by Efung Capital to raise over RMB100 million ($15 million). More news from Genor, Abogen, Bayer, Innovent.
Sino Biopharmaceuticals' subsidiary invoX Pharma acquired Nasdaq-listed biotech firm F-star Therapeutics for $161 million cash at $7.12 per share, as part of the effort to help the Chinese pharma giant dive deep in bispecifics in immunotherapy.