Week in Review: Chi-Med Plans $500 Million Hong Kong IPO

Deals and Financings • Hutchison China MediTech (Chi-Med) filed to IPO on the Hong Kong Exchange, with a rumored goal of raising between $300 million and $500 million; • BioSense, a New Jersey-Suzhou biopharma, acquired China rights to a Rexahn treatment for pancreatic cancer in a deal worth up to $226 million; • Realbio Technology, a Shanghai genomic screening company, raised $15 million in a Series A+ funding to support colorectal and microbiome screening; • CASI, a US-China pharma, paid $8 million upfront to acquire global rights to an anti-CD38 immunotherapy from Black Belt of the UK; • JF Intelligent Healthcare of Nanchang raised $5 million from GreyBird Ventures to develop AI scanning diagnoses for China community healthcare providers; • I-Mab of Shanghai partnered with WuXi Biologics for CMC development of at least five programs and commercial manufacturing of one or more programs; • BioAtla, a San Diego-Beijing biotech, out-licensed greater China rights for two of its products to Himalaya Therapeutics, its majority owned subsidiary; • Servier Pharma (Tianjin) will cooperate with Mitsubishi to promote Mitsubishi's DPP-4 type 2 diabetes treatment in mainland China; • Golden Meditech formed a collaboration with Hong Kong Baptist University to research stem cells as a treatment for neurodegenerative diseases; Trials and Approvals • CStone Pharma (HK: 2616) of Shanghai started a China Phase III of its anti-PD-L1 antibody (CS1001) as a first-line treatment for gastric cancer; • Suzhou's CStone Pharma (HK: 2616) was approved to start a bridging Phase I/II clinical trial in China of avapritinib in patients with GIST; • Innovent Biologics (HK: 01801) dosed the first patient in a China Phase I trial of IBI302, a novel bi-specific fusion protein aimed at treating wet AMD; Company News • GenScript Biotech broke ground to build a biotech manufacturing facility in Zhenjiang, specializing in plasmids and viruses for cell and gene therapies; Company Spotlight • In an exclusive interview, Apollomics' leaders described the company's plan to bring China-developed PD-1/PD-Li checkpoint inhibitors to the US market, exactly the opposite of many young China biopharmas. Stock Symbols: (AIM/NSDQ: HCM) (NYSE American: RNN) (NSDQ: CASI) (HK: 2269) (HK: 00801) Share this with colleagues: // //