Week In Review: Wild Trading On Opening Day At Shanghai STAR Exchange; Shenzhen Chipscreen To IPO On STAR Next Week

IPO Watch

• The first 25 young China high-tech companies to IPO on Shanghai's STAR Exchange soared an average of 140% when they began trading; Shenzhen ChipScreen is expected to IPO on STAR next week;

Deals and Financings

• Qihan Biotech, a Hangzhou startup, completed a $20 million B round to advance its use of CRISPR Cas-9 gene editing for xenotransplantation; 
• Zhejiang Mingdu Zhikong Technology raised $14 million in a Series A to advance its smart programs for pharma development, production and distribution; 
• Jiangsu Wanbang Biopharma, a subsidiary of Fosun Pharma, acquired China rights to an anti-seizure treatment from New Jersey's Aucta Pharma;

Trials and Approvals

• Belgium's UCB was granted a China license to import Cimzia®, a biologic drug, to China for patients with rheumatoid arthritis; 
• Innovent Bio of Suzhou started a China trial that combines its approved PD-1 drug with an Avastin biosimilar to treat lung cancer; 
• Suzhou CStone Pharma was approved to begin a China Phase I bridging study of ivosidenib, an in-licensed drug, to treat acute myeloid leukemia; 
• Ascentage, a Suzhou apoptosis pharma, was OK'd to conduct a US Phase Ib trial of its BCR-ABL inhibitor to treat drug-resistant chronic myeloid leukemia;

Company News

• Yisheng Biopharma of Beijing announced its new $60 million rabies vaccine production facility was awarded a GMP Certificate by China's NMPA;
• Accuray, a US maker of radiation oncology machines, said its China JV broke ground on a Tianjin manufacturing facility and education center.