The leading funding recipient is Ji Xing Pharma, a RTW Investment-backed Chinese biotech firm. It specializes in developing novel therapeutics for cardiovascular and ophthalmic diseases. Byaer and RTW announced an equity investment into Ji Xing in the amount of $35 million and $127 million respectively.
OnCusp Therapeutics, a pre-clinical stage ADC develooper, inked oversubscribed $100 million in Series A financing co-led by Novo Holdings, OrbiMed, and F-Prime Capital. It is another financing reached $100 million threshold.
There were no initial public offerings for Chinese drug developers last month.
Second Chinese biotech M&A deal announced this month. Swiss Pharma giant Novartis has inked a deal to acquire SanReno Therapeutics, a Chinese biotech specialized in developing renal diseases. The financial terms didn’t disclosed.
13 licensing deals for Chinese drugmakers were disclosed, worth a total of $4.6 billion, including $357 million in upfront payments.
In-licensing deals are only three, worth a total of $337 million, including $15 million in upfront payments.
Out-licensing deals are nine, worth a total of $4.2 billion, including $342 million in upfront payments.
RNA-focusd biotech Shanghai Argo Biopharma out-licensed a pair of cardiovascular drugs to Novartis, the transction worth $185 million in upfront payments. It is also the only licensing deal with at least $100 million upfront in the month.
The notable drug approvals in China are as below.
