Beijing AIM Vaccine conducted a very small IPO on the Hong Kong exchange, raising just $20 million, which netted the company only $10 million. Interest in the offering was low, with less than 1% of the company shares sold in the offering.

Zhaoke Ophthalmology acquired China/Southeast Asia rights for two eyedrop candidates from Visus Therapeutics in a $130 million deal. Meanwhile, Coherus Biosciences returned the US rights to market an Innovent Avastin biosimilar.

Wuhan Binhui Biotech closed a $47 million Series B financing to support its R&D of oncolytic virus products. Trevena, a Philadelphia-area CNS biopharma, closed a $40 million revenue-based financing from an affiliate of R-Bridge Healthcare Fund.

A US FDA oncology advisory panel rejected the NDA submitted by Innovent and Lilly for their partnered anti-PD-1 antibody. Lilly tried to influence the panel by announcing it would offer the drug at a wholesale price 40% lower than the competition.

Shanghai Zai Lab announced two major in-licensings: a $615 million deal for two cancer drugs from Blueprint Medicines and a $187 million agreement for a psychiatric drug from Karuna Therapeutics.