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Deals and Financings

Hangzhou Betta Pharma acquired greater China rights for a novel non-small cell lung cancer drug from Boston’s C4 Therapeutics (CCCC) in a deal worth up to $392 million (see story). CFT8919 is an orally bioavailable BiDAC degrader aimed at mutated EGFR L858R that C4 believes may also have efficacy against brain metastases.

C4 develops products based on targeted protein degradation using the body’s own natural protein recycling system. Betta, which has a portfolio of 40 drugs in development, makes advances in-house developed novel oncology candidates and in-licensed products. 

Shanghai’s Impact Therapeutics out-licensed global rights (ex-China) for two PARP inhibitors to Eikon Therapeutics, a San Francisco biopharma that has raised $600 million to develop novel oncology drugs (see story). Impact is building a portfolio of cancer drugs based on the concept of synthetic lethality, which aims to take advantage of cancer cells’ genomic instability.

Eikon will have rights to IMP1734, a selective PARP inhibitor of cancer cells that is expected to start clinical trials in 2H23, and another PARP inhibitor, probably IMP4297, currently in Phase II/III trials for ovarian and other solid tumor cancers. Financial details were not disclosed. 

Lynk Pharma of Hangzhou raised $28 million in a Series C1 financing to advance its portfolio of first-in-class and best-in-class small molecule candidates for oncology and autoimmune diseases (see story). The company is developing highly selective second-gen and tissue-restricted third-gen JAK inhibitors while exploring novel targets for drug discovery.

Lynk has four Phase II clinical trials underway in China and the US for four indications, some of which are nearly ready to begin Phase III trials. Its clinical stage assets address needs in psoriasis, ulcerative colitis, rheumatoid arthritis, myelofibrosis, and IBD. 

invoX Pharma, a UK subsidiary of Sino Biopharma (SBHMY), completed a second investment tranche in pHion Therapeutics, a Belfast company developing mRNA vaccines for oncology and infectious diseases (see story). pHion’s proprietary platform is designed to deliver anionic mRNA and saRNA molecules that evade detection and generate an antigen-specific CD8+ T-cell response.

invoX positioned the investment as part of its strategy to be a fully integrated biopharma. One year ago, invoX paid $161 million to acquire another novel UK company, F-Star, a Cambridge, UK clinical stage company that develops bispecific drugs for immunotherapies. 

Trials and Approvals

Beijing CANbridge Pharma was approved to launch Maralixibat Chloride Oral Solution (Livmarli) in China to treat cholestatic pruritus in patients at least one year old with Alagille syndrome (see story). Livmarli (maralixibat) inhibits ileal bile acid transporters (IBAT), blocking bile circulation and lowering bile acid levels in the liver and serum. This reduces liver injury and relieves pruritus.

Livmarli is the only medication approved in China, the US, and the EU to treat Alagille syndrome cholestatic pruritus. CANbridge, a rare disease company, acquired China rights for Livmarli from Mirum Pharma (MIRM), a San Francisco-area biopharma. 

Connect Biopharma (CNTB), a Foster City-Taicang company developing therapies for inflammation, announced that its S1P1 modulator showed statistically significant improvement in patients with ulcerative colitis (UC) during a Phase II trial (see story). The study evaluated icanbelimod (CN002) over a 36-week maintenance period following a 12-week induction period.

In the four-country Phase II trial, CN002, an oral selective sphingosine 1-phosphate receptor 1 (S1P1) modulator, was administered once daily. Connect Bio believes that icanbelimod could be a best-in-class S1P1 modulator. 

Shanghai Unicar-Therapy published Phase I/II data showing its sequential CD19/CD22 dual-target CAR T-cell therapies outperformed single CD19 CAR-T candidates in patients with B-cell acute lymphoblastic leukemia (see story). In 219 patients, the single CD19 group’s complete response was 83%, the tandem CD19/CD22 was 98%, and the sequential CD19/CD22 was 95%.

Unicar pointed out that single CD19 CAR-T therapies, although they may be effective initially, are prone to relapse. TSingle CD19 patients had a two-year overall survival of 59%, while the two dual therapy patients’ two-year OS rate was 78%. 

HighField Biopharma, a Hangzhou-based company developing immunoliposomes to treat cancer, has published positive early data from a Phase Ia trial of its lead drug in patients with metastatic cancer (see story). HF1K16 is a drug-encapsulated immune-modulating liposome that contains all-trans retinoic acid.

In preliminary data from a trial conducted in China, three patients with refractory glioma reported progression-free survival. The company will start a Phase Ib/II trial of the drug for glioma in China. HighField will present an abstract on the ongoing trial, which enrolled patients with metastatic cancers, at the ASCO meeting this weekend.

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