Biosense Global, a New Jersey-Suzhou in-licensing company, exercised a $75 million option for China rights to an active lupus immunotherapy developed by Neovacs (Paris: ALNEV), a French biopharma (see story). The exercise of the option follows a successful Phase II trial of the therapeutic vaccine, IFNalpha Kinoid. Biosense will make an undisclosed upfront payment plus milestones. It will also underwrite a China arm of a global Phase III IFNalpha Kinoid trial.
Daiichi Sankyo (TO: 4568) acquired greater China rights to Penthrox, a fast-acting non-opioid analgesic, from Medical Developments (ASX: MVP) of Australia in a $32.5 million agreement (see story). Penthrox, an oral prescription drug known as the green whistle because of its packaging, is used for pain relief in trauma and minor surgical procedures. Daiichi Sankyo will make $15 million in upfront and sales-based milestone payments. It will have marketing rights in China,Thailand and Vietnam.
Lepu Medical Technology of Beijing invested $22 million in New York-based Rgenix as part of a $40 million Rgenix Series C round (see story). Along with an equity stake, Lepu will have China rights to Rgenix’ cancer drug candidates. Rgenix will use the proceeds to support Phase Ib and Phase II clinical trials of its small molecule immunotherapy, RGX-104, plus early development of a molecule that suppresses gastrointestinal cancer progression and unspecified discovery stage programs.
Deep Intelligent Pharma, a Beijing healthcare AI startup, raised $15 million in a Series B round from Sequoia Capital China (see story). DIP has assembled a team that combines AI engineers with experts in drug R&D to accelerate drug discovery, development and medical affairs using advanced AI and blockchain technologies. In May, DIP completed a $6.6 million series A round from Zhen Fund, which also invested in the 2017 Pre-A funding.
