Week in Review: Sorrento Acquires ACEA in $488 Million Deal between Two San Diego-China Oncology Biopharmas
April 10, 2021 at 03:46 AM EDT
Deals and Financings Sorrento Therapeutics will acquire ACEA Therapeutics in a deal worth up to $488 million; both companies are San Diego-China oncology biopharmas; Long Hill Capital, a China healthcare venture firm, closed its third fund with more than $300 million in committed capital; Hutchison China MediTech raised $100 million in a private placement with Baring Private Equity Asia for its ten oncology assets; NewMed Medical Company of Shanghai closed a $100 million Series C round led by Singapore 's Temasek for minimally invasive heart disease devices; Biogen, a Cambridge , MA biopharma, in-licensed ex-China rights to a biosimilar aimed at rheumatoid arthritis from Guangzhou 's Bio-Thera; HitGen of Chengdu identified novel small-molecule compounds for a high-value biological target in a collaboration with San Francisco 's BioAge Labs; Trials and Approvals Beijing 's BeiGene was approved to manufacture the company's marketed anti-PD-1 antibody at its new one million square feet Guangzhou facility; Shanghai 's I-Mab dosed the first patient in a US Phase I trial of a novel bispecific antibody in patients with advanced or metastatic solid tumors; Bridge Biotherapeutics, a Korea - China - US company, started a Phase I/II trial of a novel EGFR inhibitor in NSCLC patients with a specific mutation; Shanghai Antengene will start a China Phase I clinical trial of a dual inhibitor in patients with advanced solid tumors or non-Hodgkin's lymphoma; Industry News Invesco launched a new China Healthcare Equity fund that offers a diversified portfolio of China-listed healthcare companies. Stock Symbols: (NSDQ: SRNE) (NSDQ: BIIB) (SHA: 688177) (SHA: 688222) (NSDQ: BGNE; HK: 06160) (NSDQ: IMAB) (KOSDAQ: 288330) (HK: 6996)