Innovent Biologics of Suzhou will collaborate with Lilly to develop as many as six cancer-fighting biologic drugs (Lilly will make a $56 million upfront payment, own ex-China rights and pay up to $400 million on one immuno-oncology candidate); Vivo Capital, a US-China healthcare investment company, closed its eighth fund at $750 million; Zhejiang ChiMin Pharma completed a Shanghai IPO, raising $47 million; South Korea's Hanmi Pharma out-licensed ex-China rights for its novel autoimmune treatment to Lilly in a $690 million deal; Jianshun Biosciences of Lanzhou will distribute an embryonic stem cell-based vaccine technology from France's Valneva in China; ZAI Lab of Shanghai dosed the first subject in a Phase I study of a novel respiratory treatment discovered by Sanofi; Ascletis, a US-China pharma, reported positive results from a Phase II trial of a hepatitis C drug; Aslan Pharma of Singapore announced a cancer drug was safe and well-tolerated in its initial Phase I trial; and Yisheng Biopharma, a China vaccine company, began a Phase I trial of a novel therapeutic rabies vaccine in Singapore.
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