Week in Review: BeiGene Raises $3.5 Billion in Shanghai STAR Board IPO
December 04, 2021 at 04:05 AM EST
Deals and Financings Beijing 's BeiGene priced its Shanghai STAR Exchange IPO to raise $3.5 billion to support its portfolio of more than 40 cancer candidates; Suzhou Abogen Biosciences closed a $300 million C+ round to develop its COVID-19 vaccine following a $720 million funding in August; Ablaze Pharma, a Shanghai-San Diego company, completed a $75 million Series A round for tumor targeting radiopharmaceutical therapies; SanReno Therapeutics, a China JV, was formed by Chinook and a syndicate that invested $40 million to bring two Chinook kidney drugs to China ; Nanjing Help Therapeutics raised $25 million in a C Round to advance its iPSC stem cell programs for heart failure and oncology immunotherapies; Shanghai iTabMed completed the spin-off of the its oncology immunotherapy platform from Evive Biotech and raised $20 million in a Series A financing; Hangzhou Sciwind Biosciences in-licensed global rights to Sanofi's portfolio of long-lasting GIP receptor agonists for NASH and other metabolic conditions; Trials and Approvals Ascentage Pharma and Innovent Biologics, two Suzhou biopharmas, announced China marketing approval of olverembatinib for leukemia; Suzhou Tot Biopharm announced that its Avastin biosimilar, Pusintin®, has been approved to launch in China ; Hangzhou Lynk Pharma started a China Phase II trial of a targeted kinase inhibitor in patients with rheumatoid arthritis; MingMed, a Guangzhou biopharma, has been approved to start US clinical trials of its cancer immunotherapy, a small-molecule HPK1 inhibitor. Stock Symbols: (NSDQ: BGNE; HK: 06160) (NSDQ: KDNY) (HK: 6855) (HK: 01801) (HK: 1875) Share this with colleagues: // //