Week in Review: GenScript and its Legend Bio Subsidiary Raise $1 Billion from Hillhouse

Deals and Financings   GenScript raised more than $1 billion from Hillhouse Capital in various investments including $500 million for GenScript's Legend CAR-T subsidiary; Elpiscience Biopharma, a  Shanghai  cancer immunotherapy company, closed a $105 million Series C round to start US trials of its innovative portfolio. Beijing Hygea Medical Technology completed a $77 million Series C financing for its medical devices, including a minimally invasive ablation device for cancer; Alebund Pharma, a  Shanghai  company developing renal disease therapies, raised $60 million in a Series B round led by Quan Capital; Kinnate, a San Diego biopharma. closed a $35 million Series A financing to form a China JV to develop its own oncology drugs in Greater China; Fulgent Genetics of Los Angeles made a $19 million investment in its China JV, FF Gene Biotech, to gain majority control of the testing company; Shenzhen Pregene Bio out-licensed Indian rights for its anti-BCMA CAR-T cell therapy to Dr. Reddy's Labs for $5 million in upfront and milestone payments; Viva Bio, a  Shanghai  drug discovery CRO, announced a strategic collaboration with  Beijing 's BioMap, an AI + biological computing services company;    Trials and Approvals   Shanghai Reistone Biopharma started a global Phase III clinical trial of its JAK1 inhibitor in patients with atopic dermatitis; Antengene of Shanghai announced  China  approved a Phase III trial of selinexor to treat endometrial cancer; Connect Biopharma, a Taicang-San Diego company, dosed the first patient in a global Phase II trial of a treatment for persistent asthma;  COVID-19 Pandemic   Shanghai Fosun Pharma formed a $200 million JV with its COVID-19 partner BioNTech to manufacture their partnered mRNA vaccine in  China ; Company News   LianBio, a Shanghai-Princeton biotech, hired Yizhe Wang, PhD, to be the company's CEO and Board of Directors member; San Diego 's aTyr and its  Hong Kong  subsidiary, Pangu, are developing bi-specific antibodies to treat diseases with Neuropilin-2 (NRP2) overexpression.  Stock Symbols: (HK: 1548) (NSDQ: LEGN) (NSDQ: KNTE) (NSDQ: FLGT) (BSE: 500124) (HK: 1873) (HK: 6996) (NSDQ: CNTB) Share this with colleagues: // //