Deals and Financings
• WuXi Biologics signed a partnership LOI with an unnamed vaccine company to supply $3 billion of vaccines over 20 years and build a dedicated manufacturing facility;
• Mabpharm of Taizhou set terms for a $173 million Hong Kong IPO at a $900 million valuation to develop novel mAbs and biosimilars;
• Shanghai Allist Pharma raised $174 million to expand its drug portfolio in an A round led by Shiyu Capital, a China healthcare-focused private equity firm;
• Joinn Labs, a Beijing CRO, will pay $27.3 million to acquire the pre-clinical CRO business of Boston-area Biomere;
Trials and Approvals
• Suzhou's CStone announced its in-licensed drug, Tibsovo, improved progression-free survival in patients with cholangiocarcinoma;
• Xynomic, a Raleigh-Shanghai pharma, presented positive data in a long-term follow-up of its lead drug abexinostat in patients with renal cancer;
• Exuma, a German-China company, announced early positive results from a China Phase I trial of two CAR-T candidates in patients with solid tumor cancers;
• Sandoz, the generic drug arm of Novartis, was approved to market the statin Crestor in China using the new NMPA Quality Consistency rules.
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Original Article: Week in Review: WuXi Biologics Signs LOI for $3 Billion Vaccine Contract