Beijing Stock Exchange Opens But Few Chinese Biotechs Join The Party
China opens the Beijing Stock Exchange to boost direct funding for innovation-driven small- and medium-size enterprises. But a closer look at the listings shows that biotech firms will largely miss the party.
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Chinese biotechs are bracing for lengthy delays as the nation’s unwaveringly stringent restrictions continue to cause barriers to on-site inspections from the US FDA. Hard-hit domestic firms are proposing a "quarantine bubble" like that used during the Beijing Winter Olympics to put back on track the field checks necessary for obtaining biologics approvals.
Jiangsu Hengrui subsidiary Reistone and Shanghai Laekna raise a combined $161m for their innovative candidates.
Taiho will pay Cullinan Oncology up to $405m for their joint venture and lead candidate for a form of lung cancer. Plus deals involving Zhaoke/Visus, AnGes/Eiger, Juniper/Helsinn, Peak Bio and more.