Fosun Pharma acquired China rights to a novel broad cancer immunotherapy candidate from VerImmune of Baltimore in an $125 million agreement. Fosun will pay VerImmune up to $125 million in upfront and milestone payments, plus tiered royalties.

Zhaoke Ophthalmology acquired China/Southeast Asia rights for two eyedrop candidates from Visus Therapeutics in a $130 million deal. Meanwhile, Coherus Biosciences returned the US rights to market an Innovent Avastin biosimilar.

One year after raising $3.5 billion for three funds in 2021, OrbiMed, the world’s largest healthcare-dedicated investor, is back with plans for $4.75 billion in new funds despite the slowdown in biopharma exits over the past year.

A US law demands China-based companies with US listings must have their financial reports reviewed by a US auditor. The problem is Article 177 of China's security law, which prohibits foreigners from examining the inner workings of Chinese companies.

Amid a slow week, Shanghai's HanBio Therapeutics raised $40 million in a Series A financing to advance its innovative biologic products. HanBio is an early R&D company that was incubated by Sunshine Guojian Pharma.