Week In Review: Ping An Announces $1 Billion Fin-Tech/Healthcare VC Fund

Trials and Approvals

Uni-Bio Science Group (HK: 690) launched Bokangtai, its oral treatment for Type 2 diabetes, in Fujian province (see story). In 2015, Uni-Bio acquired China rights to Bokangtai, a member of the glinides class of diabetes treatments, from Jiangsu Hansoh Pharma. Uni-Bio has also submitted tenders for Bokangtai in Shanghai, Chongqing, Guangdong and Sichuan, with plans to market Bokangtai in at least 10 provinces by the end of 2017. The drug was included in the 2017 National Reimbursement Drug List. Uni-Bio's R&D operation is located in Dongguan, China.  

Venus Medtech of Hangzhou received CFDA registration to market its transcatheter aortic valve system in China (see story). The Venus A-valve, which was specifically designed for China patients, is the first Transcatheter Aortic Valve Implantation device approved for China use. For inoperable/high-risk patients, the device offers a less invasive alternative than the usual open-heart surgery and cardiopulmonary bypass surgery. Because of the minimally invasive technique, patients recover more quickly. 

Impact Therapeutics of Nanjing announced its IND for a PARP inhibitor, IMP4297, was approved by the CFDA (see story). Impact believes IMP4297 has the potential to become a best-in-class drug. In February, Impact began a Australian Phase I trial of the candidate and has already treated its first patient in China as well. The company said the CFDA issued its approval only one year after the application was submitted, showing the CFDA's reforms are speeding up the regulatory process. IMP4297 is a Class 1.1 candidate that was discovered and developed in China.  

Sirnaomics, a US-China RNAi company, received China approval of its Class 1.1 IND application for its lead siRNA (small interfering RNA) treatment for hypertrophic scar (see story). The IND, which was filed by Sirnaomics' China subsidiary in Suzhou, is the first novel siRNA from a China company to start clinical trials. STP705 (Cotsiranib®) is already in Phase II trials in the US. STP705 (Cotsiranib®) is already in Phase II trials in the US. Sirnaomics partnered China development of STP705 with Xiangxue Pharmaceuticals (SHE: 300147) of Guangzhou. 

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