Week in Review: Abbisko Raises $70 Million to Develop Cancer Drug Candidates

Deals and Financings • Shanghai Abbisko Therapeutics raised $70 million in a Series C financing to develop its portfolio of small molecule targeted oncology and immuno-oncology candidates; • Apexigen, a Bay Area clinical-stage biopharma, closed a $65 million second tranche of its C round for oncology immunotherapies; • Nanjing IASO Biotherapeutics completed a $60 million Series B financing to develop more than ten cell therapies for oncology conditions; • Asieris Pharma, located in Taizhou's China Medical City, closed a C round of unspecified size to advance its genito-urinary tumor treatments; • Suzhou Innovent Bio acquired China rights to an anti-SIRP-alpha antibody from Alector that is designed to promote the immune response in myeloid and lymphoid cancers; • Laekna Therapeutics Shanghai acquired global rights to Novartis' anti-PD-L1 antibody, the third in-licensing deal between Laekna and Novartis; • Tyligand, a Shanghai small molecule biotech, acquired China rights to cancer drug onapristone ER from Context in return for designing a novel manufacturing process for the candidate; Trials and Approvals • Suzhou CStone Pharma filed an NDA in Taiwan for avapritinib, a precision therapy for gastrointestinal stromal tumors; • AnHeart Therapeutics of Hangzhou was approved to start two China Phase II trials of taletrectinib, an oral small molecule ROS1/NTRK inhibitor; Coronavirus Outbreak • Shenzhen's BGI Genomics announced the US issued an Emergency Use Authorization for its RT-PCR test kit for SARS-CoV-2; • Mabpharm of Taizhou out-licensed US and EU rights for an ACE-MAB fusion protein that targets COVID-19 to San Diego's Sorrento Therapeutics; • Shanghai Fosun Long March Medical, a diagnostics subsidiary of Fosun Pharma, was approved to launch its novel coronavirus nucleic acid detection kit in China; • Junshi Biosciences of Shanghai will collaborate with the Institute of Microbiology, Chinese Academy of Sciences to develop neutralizing antibodies as a COVID-19 treatment; • Chengdu's Clover Bio will partner with Dynavax to conduct pre-clinical tests of Clover's COVID-19 vaccine candidate combined with Dynavax's vaccine adjuvant. Stock Symbols: (HK: 01801) (NYSE: NVS) (HK: 2616) (SHZ: 300676) (HK: 2181) (NSDQ: SRNE) (SHA: 600196; HK: 02196) (HK: 1877) (NSDQ: DVAX) Share this with colleagues: // //