Chinese biotech financing edged down in August, with 28 deals raising a combined $4.12 billion—a 22% decline from July's $5.29 billion, according to PharmaDJ.
The largest round went to Ausper Biopharma, which closed a $120 million Series C to advance its lead asset AHB-137, an antisense oligonucleotide (ASO) currently in Phase III registration trials for functional cure of chronic hepatitis B (CHB)—positioning the company at the forefront of China's pursuit of a functional HBV cure.
Ranked second, SiranBio secured nearly RMB 400 million in a Series A financing round for its siRNA candidates. Combined with upfront proceeds from a May out-licensing deal with GSK, the company has now accumulated close to RMB 1 billion in R&D funding.
In vivo CAR-T also attracted sizable financings. Simnova raised nearly RMB 400 million in a Series B to advance its in vivo CAR-T platform and lead candidate SNC116. MagicRNA banked a Series B in the hundreds of millions of RMB, driven by its in vivo LNP-mRNA delivery technologies.
No biotech IPOs were recorded in Hong Kong or on the STAR Market in August. Out-licensing activity remained steady, with 14 deals signed during the month.
The largest transaction came from Alphamab Oncology, which licensed its TROP2/HER3 bispecific ADC JSKN016 to U.S.-based Pathos AI. Alphamab received a $125 million upfront payment and is eligible for up to $2.09 billion in development and commercial milestones. The deal also includes a warrant granting Alphamab the option to subscribe for $62.5 million of Pathos preferred stock.
Two NewCo deals also emerged in August.
BioMap partnered with Biogend Therapeutics, a newly formed AI-powered biopharma, to develop bispecific and multispecific antibody pipelines for autoimmune diseases. Unlike traditional single-asset NewCo models, Biogend will leverage BioMap's AI discovery system to systematically build out a diversified pipeline.
Haisco Pharmaceutical Group also closed its second NewCo deal of the year, licensing an undisclosed preclinical oral small-molecule immunology asset to U.S.-based Sentivera Therapeutics, with upfront consideration structured as a mix of cash and equity.
