Biotech fundraising trends showed slight increase in March, with twelve disclosed funding raised by Chinese players rising 67% from a month ago to reach $142 million.
After leading two investments last month, XtalPi Holdings invested in one company named Shenzhen NewDEL Biotech in March. This financing round will accelerate the in-depth development of NewDEL Biotech's DEL+AI technology platform and the layout of the innovation pipeline.
A Suzhou-based biotech Visen Pharmaceuticals is making its public market debut in Hong Kong for an $86.5 million IPO. Visen was founded in 2018 by Ascendis Pharma and investors led by Vivo Capital to develop and commercialize endocrinology therapies licensing from Ascendis. The company is developing three product candidates, including Skytrofa (lonapegsomatropin) for pediatric growth hormone deficiency, Yorvipath (palopegteriparatide) for adults with chronic hypoparathyroidism and navepegritide C-type natriuretic peptide for achondroplasia.
Only one Chinese biopharma M&A deal was announced in March. Chongqing Zhifei Biological Products announced an acquisition of a 51% stake in Chenan Biopharmaceutical for RMB 593 million (USD 82 million).
March saw eight out-licensing deals in Chinese biopharma companies, with upfront payments of $735 million and a total value of 11.37 billion dollars. This marks an increase of 337% in total deal value and 332% in upfront payments compared with previous month.
Astrazeneca announced two biobucks deals with Chinese biotechs including Harbour BioMed and Syneron Bio. With Harbour BioMed, based in Shanghai, AstraZeneca will discover and develop multispecific antibodies that span immunology, cancer and other disease areas. In the deal with Syneron, AstraZeneca will acquire the right to use its macrocyclic peptide R&D platform. With potential milestone payments, the two deals are potentially worth more than $8 billion.
March also saw two notable out-licensing deals with upfront payments of more than $200 million.
Jiangsu Hengrui Pharmaceuticals has licensed HRS-5346, an investigational oral lipoprotein(a) inhibitor to MSD for exclusive global rights with $200 million upfront and up to $1.77 billion milestone payments. Novo Nordisk paid $200 million upfront and $1.8 billion milestone to acquire a triple agonist of GLP-1, GIP, and glucagon from United Laboratories International Holdings.
Kelun-Biotech, a subsidiary of Sichuan Kelun Pharmaceutical, has licensed out another ADC candidate to MSD for exclusive global rights in a deal worth up to $936 million.