Week in Review: I-Mab Partners CD47 with AbbVie in $2 Billion Deal

Deals and Financings   Shanghai 's I-Mab out-licensed ex-China rights for its anti-CD47 mAb, to AbbVie in a blockbuster $2 billion agreement; I-Mab also raised $418 million in a private placement led by Hillhouse; Carlyle Group, a US private equity firm, paid $260 million to acquire a 5% stake in Shenzhen Salubris Pharma, supporting its move into novel drug development; Adlai Nortye Biopharma of Hangzhou raised nearly $100 million in a C financing to develop its immunoncology portfolio; Waterstone Pharma ( Wuhan ) completed a $63 million Series C financing for four novel biologic molecules ready to begin clinical trials; CoWin Biosciences, a Beijing biological reagent company, closed a $36 million financing to expand its portfolio including its SARS-CoV-2 Fast Nucleic Acid Detection Kit; InxMed ( Nanjing ), a clinical-stage biopharma, completed a $19 million Series A+ round to develop its focal adhesion kinase small molecule inhibitor; Trials and Approvals   Suzhou Innovent Bio was approved by China 's NMPA to market Sulinno®, a Humira® biosimilar; CStone Pharma of Suzhou was approved to start a US Phase II trial of its PD-L1 mAb in patients with a difficult-to-treat form of lymphoma; Innovent presented positive data from China Phase I/II tests of its PCSK9 mAb anti-cholesterol treatment; Innovent started a China Phase I trial of a novel anti-inflammatory drug aimed at psoriasis, inflammatory bowel disease and other autoimmune diseases. Stock Symbols: (NSDQ: IMAB) (NYSE: ABBV) (SHZ: 002264) (HK: 01801) (HK: 2616) Share this with colleagues: // //