Fosun Kite Bags First China CAR-T Green Light
Commerical Battle Kicks Off
Confounding earlier speculation, the first CAR-T cell therapy to gain approval in China is from the Fosun-Kite joint venture rather than Juno-WuXi AppTec. But pricing and market competition challenges are just beginning.
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Private Company Edition: Acelyrin will use its latest funding for Phase III development of izokibep in inflammatory diseases. Also, ArsenalBio raised $220m to take its programmable cell therapies into the clinic and RayzeBio’s $160m series D round will fund clinical trials for its radiopharmaceuticals.
Investors continue to focus on anticancer therapies including small molecule drugs and cell therapies in China.
Chinese healthcare and life sciences firms now overshadow their peers in Japan and India in terms of key valuation metrics amid COVID-19 and China has also witnessed significant M&A activity at high revenue multiples.