Week in Review: Junshi Signs $1.1 Billion Deal for US-Canada Rights to PD-1

Deals and Financings   Shanghai Junshi Bio out-licensed US-Canada rights for its PD-1 antibody to Coherus Bio in an agreement worth up to $1.1 billion including $150 million upfront;   Junshi will make a $50 million investment in Coherus, a San Francisco biosimilar commercialization company, as part of its PD-1 out-licensing agreement; Beijing InnoCare raised $407 million in private placements to support its portfolio of 10 candidates for malignant tumors and autoimmune diseases; Syapse, a San Francisco company, closed a $68 million investment led by China 's Ally Bridge to develop clinical data to improve delivery of precision medicine; Nantong Lianya Pharma, a division of Novast, completed a $62 million funding to develop difficult-to-make generics for the US and China ; Beijing neoX Biotech completed a $30 million Series A Financing for its AI drug discovery platform aimed at immunoncology therapies; Suzhou 's Adagene will license its masked mAb discovery platform to Exelixis for an upfront payment of $11 million; Sequoia Capital China and Illumina will partner to launch an incubator in China to nurture breakthrough genomic startups; COVID-19 Pandemic Tianjin CanSino reported its AD5-nCOV vaccine met interim primary safety and efficacy endpoints in a global Phase III clinical trial; Chengdu 's Clover Biopharma will start a global Phase II/III efficacy trial of its S-Trimer COVID-19 vaccine together with a Dynavax adjuvant; Trials and Approvals   Suzhou Innovent Biologics and Lilly said their anti-PD-1 drug, Tyvyt® was approved in China as a first-line treatment for non-small cell lung cancer; Beijing InnoCare was approved to start a China Phase III trial of its BTK inhibitor as a first-line treatment for mantle cell lymphoma; Shanghai I-Mab started China and US trials of its CD73 antibody in combination with PD-(L)1 inhibitors; Kira Pharma dosed the first volunteer in a Phase I trial of its novel complement-targeted therapy for immune-mediated diseases; Chengdu Kanghong Pharma announced conbercept was granted special protocol agreements in the US for three new retinal indications. Stock symbols: (HK: 1877; SHA: 688180) (NSDQ: CHRS) (HK: 09969) (NSDQ: EXEL) (NSDQ: ILMN) (HK: 6185; SHA: 688185) (NSDQ: DVAX) (HK: 01801) (NYSE: LLY) (HK: 09969) (NSDQ: IMAB) (SHZ: 002773) Share this with colleagues: // //