China Roundup: Innovent I/O Setback, Adagene, Hua Bag Millions, WuXi Relisting

China biotechs blossom with millions in new funding for antibody developer Adagene and diabetes drug maker Hua Medicine, and a planned CNY5.7bn Shanghai listing for WuXi Apptec. However, national innovation darling Innovent Bio has withdrawn its PD-1 approval filing, dealing a setback to a crowded area.