In July, Chinese biotech companies have raised more capital compared to last month, with 29 funding rounds. Among these, 16 companies disclosed their financing amounts, totaling $420 million.



VelaVigo closed a Series Pre-A+ financing round exceeding $60 million to advance its multi-specific antibodies and antibody-drug conjugate (ADC) pipeline. Since 2024, the company has separately signed licensing deals with Ollin Biosciences and Avenzo Therapeutics to further validate its innovative discovery platform and sustainable BD+VC business model.

Last month, ophthalmic drug developer Cloudbreak Pharma listed its shares in Hong Kong. Recently, the company announced that its eye disease prospect candidate, CBT-004, met the primary endpoint in a Phase trial and is preparing to discuss the route to approval with the FDA.



Another Nanjing-based biotech, Leads Biolabs, is also listed on the Hong Kong Stock Exchange, having raised $189 million. The company announced that the proceeds will be used to advance ongoing and planned clinical trials, as well as regulatory affairs.

China Biopharma Sino Biopharmaceutical paid approximately $1 billion to acquire LaNova Medicines in July. This acquisition brings Sino a full ADCs and bispecific antibodies pipeline, as well as major deal partnerships with MSD and AstraZeneca. In November last year, LaNova secured a $588 million upfront and up to $2.7 billion in milestones from MSD in exchange for global rights to its PD-1xVEGF bispecific antibody LM-299.



The star of July’s deal is the collaboration between Hengrui Pharma and GSK. Hengrui sold the PDE3/4 inhibitor HRS-9821 and up to 11 other programs to GSK, receiving a $500 million upfront payment and up to $12 billion in development, regulatory and commercial milestones.




In addition, CSPC Pharmaceuticals Group signed an agreement with Madrigal Pharmaceuticals to sell the exclusive global license for a GLP-1 receptor agonist SYH2086. Madrigal will pay an upfront payment of $120 million and $2 billion in milestone payments.



Chinese biotech’s technology platforms continue to attract attention. LTZ Therapeutics collaborated with Eli Lilly to use its novel Myeloid Engager Platform to develop myeloid engager therapeutics against selected targets for autoimmune diseases. Sironax has granted Novartis an exclusive option to acquire its Brain Delivery Module (BDM) platform.