Week in Review: I-Mab Seeking $2 Billion Deal for CD-47 Candidate

Deals and Financings • I-Mab BioPharma of Shanghai is shopping its novel CD-47 immunoncology candidate to global biopharmas with hopes of forming a $2 billion collaboration; • Mabwell, a Shanghai biotech, raised $278.5 million in a Series A round to support development of its 30 large molecule drugs, including mAbs and long-acting recombinant proteins; • Ocumension Therapeutics of Shanghai filed for a Hong Kong IPO for its portfolio of 16 in-licensed ophthalmology drugs for China use; • Suzhou SmartNuclide Biopharma, a company developing innovative drugs for nuclear medicine, completed a $14 million Series B financing to develop cancer diagnostics and therapeutics; • Denovo Biopharma, a San Diego-Beijing precision medicine company, announced plans to acquire Tocagen's retroviral replicating vector platform, including a gene therapy for oncology; • OrigiMed (Shanghai), a precision medicine company, partnered with Germany's Bayer to develop a China in vitro companion diagnostic to detect NTRK gene fusions; Trials and Approvals • RemeGen, a Yantai biopharma, was cleared to start a US Phase II trial of its HER2 antibody drug conjugate in patients with HER2 positive urothelial cancer; • Hua Medicine of Shanghai reported positive data from a US Phase I test of its type 2 diabetes treatment, dorzagliatin, both as a monotherapy and paired with a SGLT-2 inhibitor; • Suzhou Innovent Bio dosed the first patient in a pivotal China Phase II registrational trial of a novel PI3Kδ inhibitor aimed at lymphoma; • Shanghai Green Valley Pharma was given permission to start a US arm in a global Phase III trial of its China-approved novel treatment for Alzheimer's, derived from marine brown algae; Coronavirus Pandemic • A Sichuan Clover Bio subsidiary announced a $3.5 million investment from the Coalition for Epidemic Preparedness to start an Australian trial of a proposed COVID-19 vaccine; • Atreca, IGM Biosciences and BeiGene formed a three-way collaboration to discover and develop engineered immunoglobulin IgM and IgA antibodies targeting SARS-CoV-2. Stock Symbols: (NSDQ: IMAB) (XETRA: BAYN) (HK: 2552) (HK: 01801) (NSDQ: BCEL) (NSDQ: IGMS) (NSDQ: BGNE; HK: 06160) Share this with colleagues: // //