Week In Review: Biotheus Acquires China Rights To Three Bi-specifics In $142 Million Deal

Deals and Financings

• Biotheus, a Guangdong biopharma, signed a $142 million deal for China rights to three bi-specifics based on a TNFR antibody from Alligator Bio of Stockholm; 
• Yaoyanshe of Shanghai raised $42 million in a Series C funding to develop its on-line AI-based CRO/CMO operations;
• Shenzhen Xpect Vision Technology closed a $14 million B financing to support its new imaging technologies including photon-counting X-ray imaging; 
• Shenzhen's China Medical System acquired China rights to seven generic drugs from India's Sun Pharma, adding to its two Sun products from an earlier deal; 
• Suzhou Innovent Bio in-licensed China rights to a novel treatment for type 2 diabetes from its longstanding partner, Eli Lilly; 
• Suzhou Kintor Pharmaceuticals signed up CMAB Biopharma (Suzhou) to develop and manufacture Kintor's ALK-1 mAb; 
• LHHC Medical Technology, a China AI diagnostics company, out-licensed marketing rights for its early cancer detection test to Vancouver's Enlighta;

Trials and Approvals

• Suzhou's CStone Pharma was approved to start an Australian Phase I clinical trial of its CDK4/6 inhibitor as a treatment for solid tumor cancers; 
• Luye Pharma of Yantai will start Japan trials of its serotonin-norepinephrine-dopamine triple reuptake inhibitor for depression; 
• Abbisko, a Shanghai biopharma, will begin a US Phase I trial for ABSK021, a small molecule CSF-1R immunotherapy;

Government and Regulatory

• China has added 148 drugs to its basic medical insurance list, comprised of 47 western drugs and 101 TCM products, though expensive western drugs must still negotiate China prices.