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

Beijing's Yisheng Biopharma dosed the first patient in a Phase I trial of its lead drug candidate, an immuno-oncology product aimed at treating solid tumor cancers (see story). YS-ON-001 has multiple immuno-modulating mechanisms, according to the company. In the US, the FDA granted YS-ON-001 orphan drug designation as a treatment for hepatocellular carcinoma last year. Yisheng develops vaccines and oncology drugs, all of which are based on its proprietary PIKA adjuvant technology. 

Company News

Sorrento Therapeutics (NSDQ: SRNE), a San Diego-Nanjing company developing antibody drug conjugates, completed construction of a 25,000 square foot GMP manufacturing facility in Suzhou (seestory). The facility is run by Sorrento's subsidiary, Levena Biopharma, which is also in charge of Sorrento's 12 ADC partnerships with global biopharmas. The company said the facility, which has state-of-the-art equipment for the difficult process development and manufacturing of ADC drugs, will also provide supplies of two wholly-owned Sorrento ADC molecules that are close to IND stage. 

CARsgen Therapeutics opened its new manufacturing facility in Shanghai, which it will use to make its chimeric antigen receptor T-cell (CAR-T cell) therapies for solid tumors (see story). The facility will manufacture vectors and CAR-T cells to support CARsgen's clinical programs. CARsgen has two CAR-T trials underway, one for hepatocellular carcinoma and another for glioblastoma multiforme, plus it plans to file five IND applications to the CFDA and receive at least one IND approval from the US FDA by the end of 2018. 

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