Image Source: Unsplash

Deals and Financings 

• Shanghai Regor Therapeutics entered a $1.55 billion research pact with Eli & Lilly (LLY) to discover novel therapies for metabolic disorders.
• Beijing Avistone Pharma, a precision oncology company, received a $200 million strategic investment led by Vivo Capital to combine with Pearl Biotech.
• Hangzhou Innoforce brought its Series A round to $157 million with a $59 million tranche for its biopharma development/manufacturing operations.
• METiS Therapeutics, a Cambridge, MA AI company, raised $86 million in a Series A Round from China investors.
• CANbridge Pharma (1228.HK) of Shanghai completed a $77 million Hong Kong IPO to develop its rare disease candidates.
• RareStone, a Shanghai-Boston company, in-licensed greater China rights to a therapy for genetic obesity from Rhythm Pharma (RYTM) in a $75 million agreement.
• Xcovery, a Florida  biopharma backed by Hangzhou's Betta Pharma (300558.SZ), acquired a controlling stake in Meryx, a North Carolina immuno-oncology company.
• Tianjin CanSinoBIO (CASBF) partnered with Ireland's Aerogen to supply inhalers for its nasal coronavirus therapy.

Trials and Approvals 

• Beijing Brii Biosciences (2137.HK) reported China approved its combination mAb therapy for patients with mild COVID-19 at risk for disease progression.
• Shanghai I-Mab (IMAB) said the first patient has been dosed in a US Phase I study of Protollin, a novel immune therapy for Alzheimer's disease.