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It was a rather quiet week for biotech news in the Chinese market. Here is a brief overview of the notable events that occurred during this time.

• Zenas BioPharma (ZBIO) staged a rare US biopharma IPO worth $259 million to complete development of its lead product, a bifunctional antibody for autoimmune diseases.
• Hangzhou’s TJ Biopharma, which was spun off when I-Mab (IMAB) left China, sold the China rights for its CD73-targeted antibody to Sanofi (SNY) in a $237 million deal.
• LongBio Pharma (Suzhou) completed a Series B2 round led by Qiming Venture Partners that raised $14 million for its lead asthma candidate.
• Germany’s Bayer (BAYRY) opened its newest life science incubator, Bayer Co.Lab Shanghai, in Shanghai’s Zhangjiang Park.
• AstraZeneca Korea (AZN) plans a contest to choose two innovative Korean biohealth companies interested in China for its iCampus innovation hub in Wuxi, China.

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