Week in Review: Zai Lab Completes Second Listing with $761 Million HK IPO

Deals and Financings Shanghai's Zai Lab raised $761 million in a Hong Kong IPO, three years after completing a NASDAQ IPO; it rose 8.5% in its first trading session to a market cap of $6.8 billion; XtalPi, a US- China company, closed a $319 million funding for its AI-based drug discovery using crystal structures, quantum physics and cloud computing; Suzhou CStone Pharma out-licensed China commercialization rights for its PD-1 candidate to Pfizer in a deal worth up to $480 million; Fosun Pharma of Shanghai closed its $182 million in-licensing for China rights to a breast cancer treatment with Switzerland 's Polyphor; Taimei Technology of Shanghai completed a $176 million financing to support its AI cloud-based suite of programs for clinical trials participants; InventisBio, a Shanghai company developing novel small molecule drugs, completed a $147 million series D financing led by a Hillhouse fund; Virogin Biotech of Vancouver raised $62 million in a Series C financing from China investors to develop oncolytic virus immunotherapies; BioShin Limited of Shanghai closed a $60 million Series A financing to develop Biohaven's clinical portfolio of neurological drugs in China ; Sumgen Biotech of Hangzhou raised $32 million in a Series B round to advance its portfolio of novel immunotherapyies; Trials and Approvals   Junshi Biosciences of Shanghai stopped a China Phase III trial early for its PD-1 checkpoint inhibitor because it showed efficacy for nasopharyngeal carcinoma;  Bioray Labs of Shanghai reported positive initial results from a test of its gene-edited CAR-T therapy in non-Hodgkin lymphoma; Shanghai 's I-Mab reported China approval for a Phase III trial of its once-weekly treatment for growth hormone deficiency in pediatric patients; Apollomics, a novel US-China oncology company, was approved to start China Phase I trial of an E-selectin inhibitor for acute myeloid leukemia. Stock Symbols: (NSDQ: ZLAB; HK: 9688) (HK: 2616) (NYSE: PFE) (SH: 600196; HK: 02196) (HK: 1877; SHA: 688180) (NSDQ: IMAB) Share this with colleagues: // //