Week In Review: Bio-Thera Raises $241 Million In Shanghai STAR IPO For Antibody Portfolio

Bio-Thera Solutions (SHA: 688177) of Guangzhou priced its IPO on Shanghai’s STAR Board to raise $241 million at a valuation of almost $2 billion (see story). The offering, which placed 60 million shares at RMB32.76 each, was reported to be 3,225 times oversubscribed. Bio-Thera lists ten antibody candidates in its pipeline. The company develops novel antibodies (6) and biosimilars (4) for oncology and autoimmune indications. In January, the company's Humira biosimilar was approved for China use, its first commercialization approval.

Shanghai Universal Medical Imaging Diagnostic company closed an $86 million Series B round to support its China third-party imaging centers that it partners with hospitals (see story). So far, the company has established centers in Shanghai, Hangzhou, Guangzhou, Chongqing and Tianjin, and it plans to add another five centers by the end of 2020. The B round was led by a CEC Capital-owned private equity fund, Cathay Capital, along with V Star Capital, an investment management spinoff from GGV Capital.

Stilla Technologies, a Paris company developing a PCR device that detects and quantifies DNA mutations, completed a $22 million Series B round with a new China investor, TUS-Holdings, participating (see story). TUS-Holdings is associated with Tsinghua University and the Tsinghua Science Park in Nanjing. An incubator, it has $30 billion in capital under management. The head of TUS' European subsidiary, Daniel Wang, will join the Stilla board. Stilla said that the relationship will extend its presence in China, which is already established through a partnership with Apexbio/Cycloud.

Beijing Advaccine Biotechnology raised $4.3 million in a new funding that will be used to test a coronavirus (2019-nCoV) vaccine (see story). Two weeks ago, Advaccine and Inovio of the US announced a partnership to develop a coronavirus vaccine, with Inovio receiving a $9 million grant from the Coalition for Epidemic Preparedness Innovations (CEPI) to underwrite the work. Advaccine will be in charge of Phase I China testing that will parallel Inovio's. Advaccine expects to complete China preclinical development of the vaccine in 4 to 6 months and then apply for clinical testing approval.

1 2 3
View single page >> |

Disclosure: None

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.