Week In Review: Suzhou's Ascentage Pharma Stages $53 Million IPO In Hong Kong

Deals and Financings

• Ascentage Pharma of Suzhou completed a $53 million Hong Kong IPO at an $890 market capitalization to develop cancer therapeutics; 
• Fountain Medical, a global clinical CRO headquartered in Beijing, raised $62 million in a Series D financing; 
• NeuroRx of Philadelphia signed a $95 million funding agreement with GEM Global Yield to support US/China clinical trials of its suicidal depression therapy;
• 3SBio (HK: 1530) participated in Verseau's $50 million initial financing and acquired China rights to several of the Boston-area company's macrophage cancer immunotherapy candidates;
• Taiwan Liposome Company (Nasdaq: TLC, TWO: 4152) completed a $27.3 million secondary offering to advance its nanomedicine candidates for pain management, ophthalmology and oncology; 
• Exegenesis Bio, a Philadelphia gene therapy company, raised over $10 million in initial funding from China investors; 
• Brii Biosciences, a US-China biopharma, in-licensed rights to develop three novel anti-infectives in China from Qpex Biopharma of San Diego;
• Milu Labs of Philadelphia signed an MOU with Thermo Fisher (NYSE: TMO) to develop a China non-invasive diagnostic to test for adverse pregnancy problems; 
• NovoCodex Biopharma of Shanghai acquired China rights to an antibody drug conjugate aimed at CD70 positive cancers from San Diego's Ambrx; 
• New Horizon Health of Beijing will partner with Prenetics to market ColoClear, a non-invasive colorectal cancer test, in Hong Kong and Southeast Asia

Company News

• WuXi Biologics (HK: 2269) will build a facility in Ireland for an innovative vaccine developed by an unnamed global company expected to generate $3 billion in revenues over 20 years; 
• Germany's Merck (NYSE: MRK) opened its Shanghai Innovation Hub, announcing that it will offer $14 million in seed money to innovative China startups;

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