Week in Review: CStone Out-licenses Ex-China Rights to Two Immunotherapies in $1.3 Billion Deal

Deals and Financings   CStone Pharma out-licensed global rights (ex-China) for two assets, an anti-PD-L1, and an anti-PD-1, to US-based EQRx in a $1.3 billion agreement; CStone also acquired global rights (ex-Korea) in a $363.5 million deal to a novel antibody drug conjugate from LegoChem Biosciences for several cancers; LianBio, a Princeton-Shanghai company, raised an impressive $310 million from US and China investors in a crossover financing for its China in-licensing program; Genecast ( Beijing ) Technology completed a $149 million Series E financing to develop its second-generation sequencing technology and bioinformatics; AffaMed Therapeutics of Shanghai announced a $103 million agreement to develop two Ocular Therapeutix products in Greater China; Gracell Bio, a Suzhou CAR-T company, closed a $100 million funding to develop CAR-T products that take one day to manufacture or are available off-the-shelf; CASI Pharma in-licensed China rights to a novel antibody checkpoint receptor inhibitor from Sweden 's BioInvent in a $95 million deal; Zhejiang Zylox Medical Device completed a $45 million C round for its interventional and implantable peripheral vascular medical devices; Citrine Medicine, a Shanghai rare disease startup that raised $80 million in June, in-licensed China rights to a treatment for narcolepsy and sleep apnea; Trials and Approvals   Aprinoia Therapeutics was approved to start a China Phase III trial of its PET imaging tracer that targets tau protein aggregates in the brain; Reistone Biopharma of Shanghai reported its JAK1 inhibitor met its endpoints in a China Phase II trial in patients with moderate-to-severe atopic dermatitis; Gmax Biopharm, a Hangzhou GPCR antibody company, dosed the first patient in a Phase Ib trial aimed at treating pulmonary arterial hypertension; Shanghai 's Zai Lab started a China Phase Ib trial of retifanlimab, an anti-PD1 antibody, a part of a global trial in endometrial cancer patients.   Stock Symbols: (HK: 2616) (KOSDAQ: 141080) (NSDQ: OCUL) (NSDQ: CASI) (OMXS: BINV) (OMXS: BINV) (NSDQ: ZLAB; HK: 9688)  Share this with colleagues: // //
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