Hangzhou Betta Pharma acquired greater China rights for a novel non-small cell lung cancer drug from Boston’s C4 Therapeutics in a deal worth up to $392 million. Additionally, Lynk Pharma of Hangzhou raised $28 million in a Series C1 financing.

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.

CANbridge Pharma of Beijing acquired a global license to LogicBio’s adeno-associated virus sL65 in gene therapy candidates for Fabry and Pompe disease treatments. CANbridge will make a $10 million upfront payment for the two candidates.

After seeing strength earlier, biotech stocks came under pressure in the past week. With the earnings season tapering and not much noise on the coronavirus front, the sector reacted to clinical readouts, M&A announcements, and adverse FDA rulings.

Here's a roundup of top developments in the biotech space over the last 24 hours.