Suzhou’s Innovent Biologics raised $260 million in a Series D round to develop its portfolio of biologic drugs, a record venture funding for a China biopharma company; Luye Pharma completed its $269 million acquisition of Acino’s transdermal drug delivery business; Novogene of Beijing, a sequencing company, closed a $75 million Series B round; dMed Company, a Shanghai CRO specialist, raised $8 million in a first-round financing; Uni-Bio Science of Hong Kong and Beijing Sun-Novo Pharma will co-develop multiple oral small molecule treatments for diabetes; WI Harper Group agreed to partner with two other investment firms to fund startups that have US-China cross-border promise; Germany’s Boehringer Ingelheim announced a joint research project to treat hearing loss with China Southeast University; eimageglobal, a US-China company with an online China healthcare platform, will incorporate eUnity, a clinical image viewing product into the platform; Suzhou Alphamab and 3D Medicines (Sichuan) received approval from the US FDA to begin clinical trials of a PD-L1 bi-specific immunotherapy; Cellular Biomedicine of Shanghai and the Bay Area started a China Phase I clinical trial of its CAR-T immunotherapy; and MicuRx Pharma, a US-China anti-infectives company, began a US Phase I trial to test oral formulations of its novel antimicrobial.
