Deals and Financings
Berry Genomics (SHZ: 000710), a Beijing diagnostics and sequencing company, completed its $648 million reverse merger that lists the company on the Shenzhen exchange (see story). Berry merged into a company formerly known as Chengdu Tianxing Instrument & Meter, but the company’s legacy business has been sold off and its name was changed to Berry Genomics earlier this month. Founded in 2010, Berry is known for its non-invasive prenatal DNA screening test. It has also expanded into genetic testing for disease screening and diagnosis.
China’s iPharma signed a binding term sheet to in-license Greater China rights for a clinical-stage immunotherapy candidate from Mologen (F: MGN)of Berlin (see story). The deal could be worth up to $120 million plus royalties. iPharma is an in-licensing joint venture formed by I-Bridge Capital of China and BioLineRx (NSDQ/TASE: BLRX), an Israeli pharma. iPharma will own China rights to Mologen’s lead asset, lefitolimod, which is currently in a Phase III trial for colorectal cancer and a Phase II trial for lung cancer.
Suzhou’s CF PharmaTech, a company focused on inhalation products, raised $65 million in a Series D funding (see story). The company operates state-of-art research and manufacturing facilities, compliant with US, EU and China regulations, to develop and make products for China and the world. The company’s manufacturing facility is located in Suzhou and its R&D operations are in Wuxi. CF PharmaTech said its latest investment round will expedite submissions for approval of its own pipeline and expand its CDMO services for international clients.
aTyr Pharma (Nasdaq: LIFE), a San Diego-Hong Kong biotherapeutics company, announced a $45.8 million private placement (see story). The company will use the capital to advance its portfolio, which aims to treat rare immune-mediated diseases and cancer. In several Phase Ib/II trials, the company’s lead drug, Resolaris, showed efficacy. aTyr says the drug “resets” the immune system without making patients susceptible to disease. The company’s majority owned subsidiary, Pangu BioPharma, operates a research laboratory at the Hong Kong University of Science and Technology.
