In addition to C-Ray Therapeutics’ $100m-plus series A+ round, Allink Biotherapeutics and IMPACT Therapeutics closed VC/PE-backed financing deals worth $42m and $34m, respectively. Other Chinese biotechs also sealed smaller deals.
Amid a persistent funding crunch in November, Chinese biotechs managed to edge close to bigger fund-raising deals backed by venture capital and private equity firms.
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Jiangsu Hengrui Pharmaceuticals is gearing up for what will be 2025's biggest biopharma IPO so far, hoping to raise up to $1.27bn on the Hong Kong Stock Exchange. China's top drug maker by pipeline size plans to use part of the proceeds to reboot its overseas clinical trials ambitions.
Public Company Edition: With fewer follow-on offerings, drug developers are pursuing other options. Axsome accessed up to $570m in debt, Evolus obtained $250m in a new credit facility and Abeona raised $155m from a PRV sale, but Apimeds was able to execute a small $13.5m IPO.
CEO Paul Stoffels exits early to be succeeded by Henry Gosebruch, who will now consider ‘all options’ for the Belgian firm as it tries to claw back investor confidence.
The therapy has been developed for GM1 and GM2 gangliosidoses and Niemann-Pick disease type C.
Company surprises investors with Jørgensen's exit but insists its strategy will not change.
The US regulator’s decision has taken Biohaven and investors by surprise, with the reason for a ‘major amendment’ status not clear.
Recent moves in the industry include changes at the top at Akamis Bio, Innospera Pharma & Ispen, plus Astellas Korea appoints an ex-Novartis Korea executive.
