Week in Review: Grail Plans $500 Million Hong Kong IPO for Cancer Diagnostics

02:06 EST 4 Mar 2018 | ChinaBio Today

Deals and Financings

Grail, an Illumina diagnostic spinout that raised $1 billion in venture capital and merged with Cirina of Hong Kong, is in discussions for a $500 million Hong Kong IPO;
Viela Bio, a brand new MedImmune company, announced a $250 million Series A funding led by three prominent China investors;
Shanghai's CARsgen Therapeutics will raise $60 million in a Pre-C financing round to restructure and file for an overseas IPO to support its CAR-T portfolio;
Cullgen, a new US-Japan-China company, announced a $15 million seed financing from Japan's GNI Group to develop innovative oncology drugs;
Shenzhen Hepalink formed a JV with Aridis Pharma, a San Francisco area biopharma, to gain China approval for Aridis' fully human mAbs;
Shenzhen Mindray Bio-Medical, a major China medical device maker with US operations; withdrew its Shenzhen IPO application and will seek another venue;

Trials and Approvals

Yisheng Biopharma of Beijing was granted US Orphan Drug Designation for its lead immunoncology candidate as a pancreatic cancer treatment;
Alma Lasers, a subsidiary of Fosun's Sisram Medical, received US FDA approval of a new laser-based aesthetic machine;

Research News

Using "DNA origami," China scientists constructed nanorobots that recognize a tumor and delivered a fatal payload without affecting healthy tissue in animal models.

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