China Cell Therapy Party On: $500m+ Raised In JW IPO, Other Rounds
CAR-T Developer Plans US, Europe Expansion
It's been a big week for cell therapy developers in China with well over $500m raised through an IPO and large new funding rounds for several other ventures.
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Public Company Edition: Three companies postponed or withdrew their offerings, but drug developers continue to pursue IPOs. Also, Biocon, BMS and Epizyme raised money through new debt, Five Prime capitalized on positive data and Synthetic Biologic engaged a strategic advisor.
The China National Biotec Group has filed the first application in China for the broad use of a COVID-19 vaccine, days after the national regulatory agency released review guidelines for the conditional approval of such products.
Increasingly looking to China to commercialize their latest therapies, multinationals may be leaping into unknown waters to navigate an intellectual property judiciary and administrative maze, in a country where some copy drugs have been approved before patent expiry. With a government trying to balance innovation and access, two recent rulings involving AstraZeneca shed rare light onto China’s protections for innovation, with advisors pointing to challenges and success factors.