Alphamab Oncology, a clinical-stage Suzhou biopharma, completed a Series A funding with over $100 million in capital (see story). Earlier this year, Alphamab Oncology was spun out of Suzhou Alphamab with seven oncology assets and related technology platforms, including biospecific, protein engineering and antibody screening technologies. Stressing its novel immunocology candidates, Alphamab Oncology is focused on developing multi-functional cancer biologics, aiming at next-gen or best-in-class medicines that address global needs. The company has four candidates in clinical trials in the US, China, Japan and Australia.  

Huadong Medicine (SHZ: 000963) closed its $222 million acquisition of Sinclair Pharma (L: SPH), a global aesthetics company headquartered in London. Huadong is also a maker of aesthetic products and plans to bring Sinclair's offerings to China while it builds a larger presence for both companies' offerings in the US. Sinclair, on the other hand, says it will use Huadong's backing to increase its own portfolio of longer-duration, minimally-invasive anti-aging treatments.

Eli Lilly (NYSE: LLY) may sell China rights to a portfolio of older, off-patent antibiotics and CNS treatments in a deal that could bring between $200 and $300 million, industry sources said (see story). No specific drugs were named, and media reports did not disclose how many drugs might be included. Lilly wants to emphasize higher margin products, especially cancer drugs, and the company has been selling assets to raise cash that will be allocated to fund its new priorities.

Ascletis BioScience (HK: 1672) of Hangzhou acquired exclusive sales and marketing rights to Pegasys, a Shanghai Roche pegylated interferon used to treat hepatitis B and C (see story). Lindi Tan, PhD and CFO of Ascletis, told ChinaBio® Today that the agreement was a "transformational" event for Ascletis, because it gives the company's 145-member sales team two hepatitis products to market. In June, Ascletis received China approval for Ganovo® (danoprevir), a novel direct acting anti-viral, as a treatment for hepatitis C. Pegasys is the leading interferon drug in China's hepatitis B market.  

HitGen, a Chengdu drug discovery/development company, announced a discovery research collaboration with Biogen (Nasdaq: BIIB) (see story). HitGen will search its DNA-encoded library, which now includes 300 billion novel targets, to identify novel small molecule leads for unspecified neurological disorders. Although Biogen, based in Boston, does not have any operations in China, it partnered with HitGen for discovery, underscoring China's importance in global biopharma development. HitGen will receive an upfront payment and be eligible for milestones, while Biogen will own all rights to the molecules. 

News and Analysis 

WuXi Biologics (HK: 2269) has begun construction of a 1.6 million square foot global innovation center in Shanghai's Fengxian district (see story). The company, which did not release an estimated cost for the facility, said its newest Shanghai facility would eventually house 3,000 scientists. The building will integrate biologics discovery, development, clinical and commercial manufacturing. In a two-month period earlier this year, WuXi Biologics announced it would build four new manufacturing plants around the globe at a total of cost of nearly $800 million.

CASI Pharma (Nasdaq: CASI), a US-China company, announced plans to build a global cGMP manufacturing facility in Wuxi, China. In January of this year, CASI acquired global rights to a portfolio of 29 generic drugs from Sandoz. Most of the products are approved in the US, but CASI has plans to make and market them in China. Headquartered in Maryland, CASI has an R&D facility in Beijing.

Trials and Approvals

Gilead Sciences (Nasdaq: GILD) announced approval to market Vemlidy®(tenofovir alafenamide), an oral treatment for hepatitis B, in China. In clinical trials, Vemlidy showed non-inferiority to another Gileaddrug, Viread®. Both drugs are nucleoside reverse transcriptase inhibitors based on tenofovir. But Gilead said Vemlidy delivers tenofovir to hepatocytes more efficiently than Viread, allowing the same efficacy at one-tenth the dose, reducing renal and bone side effects.