Genexine Seals I-O Licensing Deal With I-Mab, Builds Momentum
Genexine has reached a critical point in developing its immuno-oncology pipeline, firming up a $548m-plus licensing out pact for an asset with the Shanghai-based I-Mab Biopharma. The South Korean firm expects the deal to serve as a yardstick of ‘value determination’ in its future global transactions.
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Daiichi Sankyo gains worldwide rights to an antibody-drug conjugate version of Glycotope’s gatipotuzumab for various cancers. Also, Tasly buys China rights to Mesoblast's CV candidates and India's Cipla grows in Africa.
Private Company Edition: I-Mab's $220m Series C round continued the trend of big investments in companies focused on or headquartered in China. Also, Shanghai-based Nuance brought in a combined $35m and European firms dominated recent small financings as US VC deals took a summer break.
Immuno-oncology deals and R&D by South Korean companies are picking up speed as they are put more focus on the hot sector in line with global trends.