Week In Review: Yantai's MabPlex Raises $59 Million To Expand CDMO Services

MabPlex, a biologics CDMO located in Yantai, raised $59 million in a Series A round from SDIC Venture Fund and Shenzhen Venture Capital, two state-owned investors (see story). Founded in 2013, MabPlex offers biologics development and manufacturing services, including mAbs, recombinant proteins, ADCs and bispecifics. Its offerings range from gene sequencing to cell line development and commercial production. MabPlex’s CHO cell line platform is designed to move candidates in the shortest possible time from DNA to finished product. In 2018, MabPlex opened a US site in San Diego. 

Tyto Care, an Israeli telehealth company, raised $9 million from strategic investors Sanford Health, Itochu and Shenzhen Capital Group in a continuation of its Series C funding (see story). One year ago, Tyto Care announced the initial closing of the Series C round with $25 million led by China's Ping An Voyager Fund. Tyto makes a device that, in combination with a home computer, allows a doctor to conduct a on-line home examination of the patient. The $299 Tyto device (plus monthly fee) is sold by healthcare organizations to their patients. 

Ascletis Pharma (HK; 1672) of Hangzhou acquired China rights to a Suzhou Alphamab anti-PD-L1 candidate for hepatitis B and other viral disease indications. Ascletis will make an upfront payment, and Alphamab will be eligible to receive payments for development and commercial milestones plus royalties ranging from the mid-teens to around twenty percent. Alphamab will manufacture the candidate. Ascletis will be eligible to share in future upfront, milestone and royalty if ASC22 (KN035) is approved to treat viral diseases outside of Greater China.

Bio-Thera Solutions, a Guangzhou biopharma, out-licensed marketing rights for its Avastin biosimilar to India's Cipla (BSE: 500087) in certain emerging markets (see story). The agreement is a rare China-India biopharma agreement. Cipla was chosen because it has a strong presence in emerging markets. Bio-Thera’s BAT-1706 is currently being tested in a global Phase III study as a first-line therapy for advanced non-squamous non-small cell lung cancer. The company expects to file for approval of the biosimilar in China, the US and Europe in 2020. 

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