• Shanghai Fosun Pharma announced a $148 million agreement to acquire China rights for SurVaxM, a novel immunotherapy aimed at glioblastoma, from MimiVax of Buffalo, New York; 
• Suzhou's BrightGene Bio-Medical completed a $74 million IPO on the Shanghai Star Exchange and climbed 141% higher in its first trading session, giving the company a $1.8 billion valuation; 
• Lansion Biotechnology of Nanjing closed a $14 million Series C funding led by Matrix Partners China to expand its IVD reagent and medical device operations; 
• Shenyang's 3SBio selected the first immunoncology candidate to develop in China from its partnership with Boston's Verseau Therapeutics, a company developing macrophage checkpoint modulators;
• GenScript Biologics, a Nanjing global biopharma CDMO, will partner with ABL Bio of South Korea to develop two bispecific antibodies using GenScript technology; 
• Brii Biosciences of Shanghai announced partnerships that add up to seven new compounds to its portfolio, raising its total to twelve inlicensed infectious disease products for China's market; 
• Shanghai Fosun Kite Biotech formed an alliance with Phanes Therapeutics, a San Diego-Guangdong biotech, to develop Phanes' CAR-T candidates in greater China for solid tumors;

Company News

• Novartis refocused its large Shanghai research institute on drug development rather than drug discovery and will work on 50 NDAs for China while Novartis looks for promising candidates from young China biopharmas; 
• Ascentage Pharma broke ground on its 95 acre corporate campus, a combined global headquarters, R&D center and manufacturing facility in Suzhou Industrial Park;

Trials and Approvals

• CStone Pharma dosed the first patient in a China Phase I bridging trial of an Agios treatment (Tibsovo®) for acute myeloid leukemia; 
• Clover Biopharma, a Chengdu global clinical-stage biotech, started an Australian Phase I trial of a cancer treatment in patients with malignant pleural effusions.