Week in Review: BeiGene Signs $2.2 Billion Deal with Novartis for PD-1

Deals and Financings   Beijing 's BeiGene out-licensed ex-China rights for its China-approved anti-PD-1 antibody to Novartis in a $2.2 billion agreement, including a $650 million upfront payment; Shanghai 's Inmagene in-licensed global rights to four novel pre-clinical immunological molecules from Chi-Med in a $920 million deal; CICC Capital announced its RMB biomedical private equity fund, CICC Qide, raised $648 million as of the second closing; EQRx, a Cambridge, MA biopharma that aims to cut US drug prices by 50% or more, completed a $500 million funding for its portfolio that includes three China-sourced candidates; BeiGene announced a $310 million agreement for China/Asia rights to an mRNA treatment developed by Strand Therapeutics for solid tumor cancers; EOC Pharma, the Shanghai oncology arm of Eddingpharm, acquired China rights to an mTOR inhibitor from Aadi Bioscience in a $271 million agreement; Shanghai 's Visen Pharma closed a $150 million Series B financing to develop novel endocrine drugs in a round led by Sequoia China ; Shanghai Henlius Biotech announced a $122.5 million agreement for rights to two anti-TPOR-2 antibodies from Chiome Bioscience of Japan ; Shenzhen Raysight Medical completed a $46 million Series B funding for its clinical real-time monitoring systems to provide early warnings of heart disease; Industry Insights In 2020, investment in China life science showed stellar growth. ChinaBio®'s survey shows four of the five investment categories set new records, often doubling the year-earlier result, while the fifth, M&A, fell for the second year in a row; China 's biopharma industry continued to grow at a rapid pace in 2020, in spite of COVID-19 disruption according to panelists at the China Showcase; Trials and Approvals   Gracell Biotech of Suzhou was approved to start a China Phase I/II clinical trial of its donor-derived CD19 CAR-T cell therapy. Stock Symbols: (NSDQ: BGNE; HK: 06160) (NSDQ/AIM: HCM) (HK: 2696) (NSDQ: GRCL) Share this with colleagues: // //