Week In Review: Fosun Pharma Plans $690 Million Deal To Privatize Henlius, Its Biologics Subsidiary

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Deals and Financings

Shanghai Henlius Biotech, the biologics arm of Fosun Pharma, agreed to be a wholly owned subsidiary of Fosun in a $690 million deal that values the company at $1.7 billion. Meanwhile, Suzhou Ascentage Pharma (ASPHF) filed to list in the US to support its portfolio of drugs that restore natural cell aging. In 2019. the company staged an IPO in Hong Kong.

CASI Pharmaceuticals (CASI) received a $40 million take-private offer for its China operations from the company’s Chairman and CEO, Dr. Wei-Wu He. Additionally, Hong Kong King-Friend Industry bought global rights to Yusimry, a Humira biosimilar, from Coherus BioSciences (CHRS) of Redwood City, CA for $40 million upfront.

Korea’s AprilBio out-licensed worldwide rights for its IL-18 targeted fusion protein to Evommune, a Palo Alto biopharma focused on chronic inflammatory diseases.

Trials and Approvals

In other news, Novo Nordisk (NVO) was approved to launch Wegovy, one of its two GLP-1 drugs, in China for long-term weight management in obese and overweight people. Also, Nanjing Simcere Zaiming, an oncology subsidiary of Simcere, announced China’s NMPA approved Enlituo for RAS/BRAF wild-type metastatic colorectal cancer.

Innovent Biologics (IVBXF) reported its GLP-1R/GCGR dual agonist caused weight loss in a China Phase III trial and also reduced liver fat in obese and overweight patients. Meanwhile, Beijing Gan & Lee, a diabetes drug specialist, said its GLP-1 receptor agonist showed impressive weight loss in a China Phase Ib/IIa trial.

Finally, Wuhan iRegene was approved to begin US trials of its novel chemically induced allogeneic cell therapy product as a treatment for Parkinson's Disease.

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