Week In Review: Akeso Stages $335 Million HK IPO For Mono-/Bi-Specific Antibodies

Deals and Financings

• AkesoBio of Zhongshan staged a $335 million Hong Kong IPO to support its novel mono- and bi-specific antibodies, and climbed 50% higher in its first trading session;
• Hansoh, a Shanghai Pharma, in-licensed greater China rights to a novel small molecule anti-viral from US-based NiKang in a deal potentially worth over $100 million;
• APTBIO, a Shanghai proteomic company, completed a $28 million Series A financing, to support biologic drug discovery services based on mass spectrometry;
• New Horizon Health of Hangzhou completed a $20 million Series D financing for its early-stage cancer screening products;
• Guangzhou Magpie Pharmaceutical closed a $14 million Pre-C funding round for its portfolio of novel drugs based on modernized formulations of proven TCM drugs;
• ChosenMed Technology of Beijing raised "hundreds of millions of yuan" in a Series B round for its oncology precision medicine services;

Trials and Approvals

• Suzhou Innovent announced China's NMPA will review its sNDA for a combination regimen including the company's PD-1 antibody, Tyvyt®, to treat non-small cell lung cancer;
• CStone Pharma of Suzhou announced that its avapritinib NDA, a precision therapy aimed at treating GIST, was accepted for review;
• Harbour BioMed dosed the first patient in a China Phase Ib/IIa trial of its anti-FcRn antibody to treat an autoimmune disease, neuromyelitis optica spectrum disorder;
• Mabspace Biosciences (Suzhou) was cleared by the US FDA to start trials of its novel humanized Claudin 18.2 mAb in patients with metastatic solid tumors;

Coronavirus Outbreak

• The US FDA has granted emergency use authorization for a COVID-19 RT-PCR detection kit developed by Shanghai Fosun Pharma;
• Beijing's Sinovac Biotech announced positive efficacy and safety from animal tests of its PiCoVacc chemically inactivated COVID-19 vaccine candidate,