Chinese biotechs continued to secure smaller-sized fundings backed by venture capital and private equity firms in September and October, with the single largest fundraising standing at $42m.
China Biotechs Hang Onto Smaller VC/PE Funding Deals In September, October
LaNova Medicines, as well as other Chinese RNA interference specialists and developers of stem cell-based therapies, were among those securing new funds from venture capital and private equity firms over the past few months.
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CEO Kris Elverum told Scrip about the start-up’s platform for editing RNA to correct genetic variants that cause harm and to reproduce healthy variants as a means of treating disease.
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The four-year-old firm said it plans to advance programs toward the clinic from the funding round, which comes just over a year after signing two major pharma partnerships.
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Private Company Edition: The latest group of drug developers to announce venture capital financings is remarkable for its geographic diversity, from Character Biosciences’ $93m series B round in the US to Augustine’s $85m series B in Belgium to a $29.2m series C for Aculys in Japan.
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Kyoto-based venture moves HQ to California to expand R&D and business outreach for its regulatory T-cell technology, as it raises around $46m in public and private funding.
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Investing heavily in antibody-drug conjugates, AbbVie is pioneering a dual STEAP1xPSMA-targeting approach in prostate cancer, as other candidates advance.
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Strong sales growth for the German group’s SGLT2 inhibitor in 2024
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After a more than three-year hiatus, China's Hengrui has signalled its return to multiregional Phase III trials as it looks to globalize its innovative pipeline. Meanwhile, a number of other Chinese players have announced plans to kick off Phase III trials this year and beyond.