1. Scrip
  2. >>Focus On Asia
  3. >>China

Northeast’s DCTY Deal Marks China’s First Domestic Biotech Acquisition Of '24

 
• By Dexter Jie Yan

If closed successfully, the traditional producer of active pharmaceutical ingredients and generic drugs will scoop up the world’s second advanced KRAS G12D-targeting T-cell receptor (TCR) T cell therapy candidate, as well as an EGFR variant III-targeting chimeric antigen (CAR) receptor T-cell agent. Out-licensing efforts are already under way.

deals, partnerships and acquisitions
Northeast set to make China's first domestic biopharma acquisition this year • Source: Shutterstock

Amid widespread speculation about a pickup in acquisitions of struggling Chinese biotechs by their cash-rich compatriot drug makers, Northeast Pharmaceutical Group Co., Ltd., a traditional producer of active pharmaceutical ingredients and generic drugs, has emerged as an unlikely player to outpace China's well-funded major pharmas to cut the first buyout deal of 2024.

Key Takeaways

  • China's Northeast Pharmaceutical has reached a tentative buyout agreement with compatriot biotech Beijing DCTY, a little-known cell therapy developer.

  • If closed successfully, the deal will become the first acquisition involving domestic Chinese biopharma firms in 2024

On 6 August, Shenzhen-listed Northeast announced a framework agreement with Beijing DCTY Biotech, a little-known cell therapy developer, to take a 70% stake in the insolvent

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from China

Chinese Firms Build Obesity Clinical Pipeline But Face Wider Hurdles

 
• By Xu Hu

Despite the ability to initiate clinical trials quickly and having strong manufacturing capacity, Chinese companies are facing multiple challenges in the obesity space.

Transient FY26 For Syngene But Momentum In China +1 Projects

 
• By Anju Ghangurde

As biopharma derisks its business with China ‘rebalancing’ strategies, Syngene could convert majority of such pilots into full program contracts amid a challenging FY2025. The CRDMO also expects business discussions pertaining to a newly acquired US biologics site to mature into commercial opportunities.

Zai’s R&D Head Touts ‘Beauty’ Of Novel Internal Assets

 
• By Dexter Jie Yan

Two potentially first-in-class molecules signify Zai Lab’s renewed drive for the in-house discovery of drugs that it requires “to be innovative, differentiated and to have the potential to make a big difference for patients,” its global R&D head tells Scrip.

CSPC’s Global-First Monospecific ADC Promising In Advanced NSCLC

 
• By Xu Hu

CSPC’s SYS6010, the first monospecific EGFR-targeting antibody-drug conjugate in the clinic for advanced NSCLC, has shown Phase I promise, but could face close competition with another China-originated bispecific.

More from Focus On Asia

DIA Korea: Medical Turmoil, Global Factors Blunt Korea’s Trial Edge

 
• By Jung Won Shin

DIA Korea hears how multiple domestic and global factors are affecting the environment for clinical trials in South Korea, and what actions may be taken to address this.

Zai’s R&D Head Touts ‘Beauty’ Of Novel Internal Assets

 
• By Dexter Jie Yan

Two potentially first-in-class molecules signify Zai Lab’s renewed drive for the in-house discovery of drugs that it requires “to be innovative, differentiated and to have the potential to make a big difference for patients,” its global R&D head tells Scrip.

CSPC’s Global-First Monospecific ADC Promising In Advanced NSCLC

 
• By Xu Hu

CSPC’s SYS6010, the first monospecific EGFR-targeting antibody-drug conjugate in the clinic for advanced NSCLC, has shown Phase I promise, but could face close competition with another China-originated bispecific.