Week In Review: Hansoh's Hong Kong IPO To Raise Up To $1 Billion At $10 Billion Valuation

Deals and Financings

• Jiangsu Hansoh Pharma, a generic/novel drug company, will aim to raise up to $1 billion at a $10 billion valuation in its Hong Kong IPO; 
• Hansoh also announced a collaboration with US-based Viela Bio to develop a CD19 mAb for China in a deal worth as much as $220 million; 
• Panacea Venture closed its initial $180.5 million fund to support early stage global healthcare investments with possible China connections;
• New Horizon Health of Hangzhou completed a $66 million C round of financing that was led by VMS Group for early-stage cancer diagnostics; 
• Alphamab Oncology of Suzhou closed a $60 million Series B led by Hudson Bay Capital Management to develop its biologic oncology drug business;
• Harbour BioMed signed a global discovery agreement with an unnamed top-ten immuno-oncology using Harbour's HCAb transgenic mouse platform; 
• Benchmark Botanics of Vancouver set up a Canadian JV with Zhejiang Yatai Pharma for high cannabidiol (CBD) cannabis products;

Trials and Approvals

• Jiangsu Hengrui Medicine was approved for a China launch of its PD-1 drug as a third-line treatment for classical Hodgkin’s lymphoma; 
• Sihuan Pharma of Beijing was OK'd to begin China clinical trials of its third-gen EGFR inhibitor, a Category 1 innovative drug;

Company News

• Pfizer Upjohn, the generics division of Pfizer, opened its global headquarters in Shanghai, the first headquarters of a multinational drug company to locate in China.