Fosun Pharma announced it has licensed US rights to a PD-1 candidate from Henlius Biotech in an $840 million agreement. Meanwhile, Tenacia Biotechnology in-licensed greater China rights to a seizure therapy from Philadelphia’s Marinus Pharma.

Beijing YishengBio will merge with a SPAC vehicle, Summit Healthcare Acquisition, to list on the NASDAQ Exchange at a pre-money equity value of $834 million. The merger is expected to provide up to $230 million in cash to YishengBio.

WuXi Biologics and WuXi AppTec announced that each company would invest $1.4 billion over ten years to build R&D and manufacturing facilities in Singapore. Frontera Therapeutics completed a $160 million Series B funding to support its AAV programs.

A US law demands China-based companies with US listings must have their financial reports reviewed by a US auditor. The problem is Article 177 of China's security law, which prohibits foreigners from examining the inner workings of Chinese companies.

Huadong Pharma announced a $662 million agreement to develop two Kiniksa Pharma anti-inflammatory drug candidates in southeast Asia (ex-Japan). Huadong will pay $22 million and be responsible for up to $640 million in milestones, plus royalties.