A roundup of latest news from Chinese pharma and biotech, including a record high share price for Hansoh, strategic healthcare partnerships, venture capital gains, and recent IPO news from Sunshine Guojian and Tigermed.
China’s Hansoh Pharma out-licenses cancer drug to U.S. start-up EQRx
Hansoh Pharmaceutical Group led by China’s wealthiest pharmaceutical entrepreneur Zhong Huijuan, closed up 4.2% to a record high of HK$39.50 at the Hong Kong Stock Exchange today after the company said it would license a cancer drug to a U.S. firm. The drug, Amonertinib, will be licensed to start-up EQRx of Cambridge, Massachusetts, with which Hansoh said it has formed a strategic partnership.
CR Medical establishes strategic partnership with the China-Japan Friendship Hospital in Beijing
The strategic partnership will initially focus on three therapeutic areas: respiratory diseases, cancer and pain.
First two products submitted for review by MaxiNovel and Lee’s Pharm under NMPA’s trial Breakthrough Therapy protocol, launched early this month
Turning billions into trillions: How Chinese VC Hillhouse Capital struck gold in healthcare
While Hillhouse Capital may not be an internationally renowned name in global investor circles, the Beijing-based venture capital (VC) firm has quietly watched the total value of its healthcare investments grow from RMB 120 billion (USD 17.16 billion) to RMB 2.5 trillion (USD 360 billion), so maybe it should be.
China’s Sunshine Guojian prices $240M IPO on STAR, shares jump 92% on first day
Looking to boost its R&D capacity, China’s Sunshine Guojian Pharmaceutical (Shanghai) Co. Ltd. launched an IPO on July 22 that raised ¥1.7 billion (US$240 million) on Shanghai’s STAR market. Shares (SSE:688336) almost doubled in value on the first day of trading, closing at ¥54.10, for a gain of 92%.
China’s CRO powerhouse Tigermed to seek $1B IPO in Hong Kong
Hangzhou Tigermed, a clinical research service provider that also invests in biotech companies, has been approved for a listing on the HKEX and is looking to raise about $1 billion, Bloomberg reported. It would be a dual listing for the Shenzhen-listed company.
Claiming a spot in the top 10 clinical CROs globally by revenue, the company noted that it has 15 overseas operation sites across 11 countries and regions in Asia-Pacific, North America and Europe.