Week In Review: WuXi Biologics Signs LOI For $3 Billion Vaccine Contract

• WuXi Biologics signed a partnership LOI with an unnamed vaccine company to supply $3 billion of vaccines over 20 years and build a dedicated manufacturing facility; 

• Mabpharm of Taizhou set terms for a $173 million Hong Kong IPO at a $900 million valuation to develop novel mAbs and biosimilars; 
• Shanghai Allist Pharma raised $174 million to expand its drug portfolio in an A round led by Shiyu Capital, a China healthcare-focused private equity firm; 
• Joinn Labs, a Beijing CRO, will pay $27.3 million to acquire the pre-clinical CRO business of Boston-area Biomere;

Trials and Approvals

• Suzhou's CStone announced its in-licensed drug, Tibsovo, improved progression-free survival in patients with cholangiocarcinoma; 
• Xynomic, a Raleigh-Shanghai pharma, presented positive data in a long-term follow-up of its lead drug abexinostat in patients with renal cancer; 
• Exuma, a German-China company, announced early positive results from a China Phase I trial of two CAR-T candidates in patients with solid tumor cancers;
• Sandoz, the generic drug arm of Novartis, was approved to market the statin Crestor in China using the new NMPA Quality Consistency rules.