Week in Review: Nanjing Legend Files to Stage IPO in the US

Deals and Financings • Nanjing Legend Biotech, a GenScript subsidiary, filed for a US IPO to support its CAR-T therapies, including a multiple myeloma candidate partnered with J&J in a deal that netted Legend $350 million upfront; • Harbour BioMed, a US-China biopharma, raised $75 million in a Series B+ round to advance its clinical-stage candidates and portfolio of next-gen cancer and immunological biotherapies; • GenFleet Therapeutics (Shanghai) closed a $57 million Series B financing, co-led by CDH and Shenzhen Capital, for large and small molecules aimed at oncology and immunology targets; • Arctic Vision of Shanghai in-licensed China rights to Xipere™, a treatment for macular edema associated with uveitis, from Clearside Bio in a $35.5 million agreement; • Exuma Biotech (formerly F1 Oncology), a Florida-Shanghai company developing CAR-T products for solid tumors, closed a $19 million Series B round; • OBiO Technology (Shanghai) completed a B+ Round of more than $15 million for its viral-based gene therapy CRO services and genetic drug CDMO/CMO services; • Shanghai OPM Biosciences raised $14 million from China Life Medical Fund to support its serum-free CDMO services platform; • China Immunotech Biotech of Beijing completed a $6.5 million Series A financing, led by Jianxin Capital, for TCR-T and CAR-T candidates; • Chengdu's HitGen signed a licensing agreement to discover a novel class of drugs for Kaken, a Japanese specialty pharma; Trials and Approvals • Suzhou Ascentage Pharma, announced approvals for three clinical trials of APG-2575, a novel Bcl-2 inhibitor, for hematologic malignancies ; • Denovo Biopharma, a San Diego-Beijing precision medicine company, discovered a novel genetic biomarker for depression that it intends to use in clinical trials of its triple reuptake inhibitor; Coronavirus Outbreak • I-Mab, a Shanghai clinical-stage biopharma, is developing its TJM2 antibody to treat cytokine release syndrome in severe cases of COVID-19; • Mesoblast of Australia plans to start trials of remestemcel-L, its stem cell candidate, in patients with acute respiratory distress caused by COVID-19; • Ascletis, a Hangzhou biopharma, reported that an initial group of 11 COVID-19 patients all recovered after being treated with a combination Ganovo®-Ritonavir therapy. Stock Symbols: (HK: 1548) (NSDQ: CLSD) (TYO: 4521) (HK: 6855) (NSDQ: IMAB) (NSDQ: MESO; ASX: MSB) (HK: 1672) Disclosure: none. Share this with colleagues: // //