Week In Review: Pyrotech Closes $97 Million Series A Round For Immunomodulator Drugs

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Deals and Financings

Beijing’s Pyrotech Therapeutics completed a $97 million Series A funding to develop novel small molecule drugs that modulate immune responses for autoimmune diseases and cancer. Meanwhile, Mirxes Holding, a Singapore RNA diagnostic company, closed a Series D funding round that raised $50 million, and the company has filed for a Hong Kong IPO.

Shanghai MindRank completed an A+ round of $20 million to apply its AI-based drug discovery program to develop drugs and discover new candidates for other biopharmas. Additionally, Pillar Biosciences, a Natick MA-Shanghai oncology testing company, partnered with Illumina (ILMN) to make Pillar’s genomic profiling assays for oncology available globally.

Trials and Approvals

Shanghai Everest Medicines launched its first product in China, a novel antibiotic for difficult pathogens including multidrug resistant infections. Overland ADCT BioPharma’s BLA for Zynolonta to treat diffuse large B-cell lymphoma was accepted for review by China’s NMPA.

RemeGen (REGMF) reported that data from a Phase II trial published in a medical journal showed telitacicept was effective in treating Primary Sjögren's Syndrome. Notably, Hangzhou Ascletis (ASCLF) said a combination of its PD-L1 inhibitor with a histone deacetylase inhibitor showed efficacy as a possible cure for HIV infection in a Phase II trial.

Nanjing SunHo BioPharma started China Phase I/II trials of a B7H3-IL10 immunocytokine as a potential first-in-class therapy for advanced/metastatic solid tumors. Finally, San Francisco’s Viage Therapeutics reported patients experienced improved brain activity in a Phase I trial of an oral drug targeting the AVPR1A receptor in the gut.

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