China’s First Biotech Refinancing Deals in 2022 To Raise $712m

Henlius is investigating the optimum dose for its PD-L1-targeting antibody-drug conjugate HLX43 to support potential first-line use, its CEO explains to Scrip.

After in-licensing a cardiovascular candidate last year, AstraZeneca has signed a strategic drug discovery alliance, which could generate billions of dollars in payments to the Chinese firm.

LTZ Therapeutics and Beijing Sungen Biomedical are among the Chinese biotechs raising new funding, of around $40m each, based on their clinical assets with novel mechanisms of action. While fundings have risen, they remain moderate however.

Pursuing first-in-class molecular glue degraders using undruggable targets could eventually help Degron Therapeutics land sizable asset-based deals, CEO Lily Zou tells Scrip.