Week In Review: BeiGene Plans $2.5 Billion IPO On Shanghai Star Exchange

ChinaBio® Exclusive 

  • LianBio, a Princeton-Shanghai company, and Pfizer (PFE) announced an innovative agreement to co-develop and co-commercialize novel pharmaceuticals in Greater China (see story). "We started talking to Pfizer several months ago," said Adam Stone, Chief Investment Officer of Perceptive Advisors, LianBio's parent, in an exclusive interview with ChinaBio® Today. "We didn't have a final structure in mind. We just asked the question, 'How can these two platforms work together in a mutually beneficial way?'"  

COVID-19 Pandemic 

  • Chris Chen, CEO at Shanghai-headquartered WuXi Biologics (HK: 2269), told a reporter that the CRO/CMO is working on 10 neutralizing antibodies from clients for COVID-19 and one vaccine (see story). Because the candidates are making rapid progress, he expects approval for a COVID-19 antibody treatment either “late this year or early next year.” Meanwhile, Sinopharm said three unapproved China vaccines, two of its own and one from Sinovac, have been administered to one million people in China who face exposure to COVID-19.  

Trials and Approvals 

  • Beijing's BeiGene announced China approval to market Xgeva® (denosumab) to prevent skeletal-related events (SREs) in patients with bone metastases from solid tumors or multiple myeloma (see story). Previously, the drug was approved in China for giant cell tumor of the bone (GCTB) in which surgery was not possible. In 2019, BeiGene acquired China rights to Xgeva as part of its $2.7 billion deal with Amgen (AMGN), which included China rights to 23 Amgen oncology assets. 
  • Alphamab Oncology (HK: 9966) and 3D Medicines filed a China NDA for their partnered anti-PD-L1 therapy as a treatment for MSI-H/dMMR cancer (see story). In a Phase II registration trial, patients with MSI-H/dMMR colorectal cancer experienced an objective response rate of 32%. The patients had previously failed a fluoropyrimidine, oxaliplatin, and irinotecan regimen. The results were roughly equivalent to those produced by BMS (BMY)'s Opdivo and Merck (MRK)'s Keytruda. In the US, Tracon Pharma (TCON) partners the candidate with the two China pharmas.  
  • Suzhou Innovent (HK: 01801) reported its bi-specific fusion protein was effective in patients with neovascular age-related macular degeneration (nAMD) (see story). The Phase I trial showed the 31 participants were able to read six additional letters in an eye exam following a single treatment. Innovent's IBI302 is a first-in-class recombinant human anti-VEGF and anti-complement bi-specific molecule.
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