Abogen and Neurophth Lead China mRNA, Gene And Cell Therapy Funding Rush
Total of $571m raised in China from 10 venture capital and private equity funding deals betting heavily on mRNA and targeted oncology, as well as gene and cell therapies.
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Five Chinese bioventures have raised more than $70m from venture capital and private equity funds since late May.
With the first half of 2022 ending, two Chinese developers of innovative drugs - antibody specialist Chongqing Genrix Biopharmaceutical and Suzhou Teligene, which focuses on small molecules, are looking to go public on Shanghai’s STAR Market, ending a recent drought of biopharma listings.
China’s Center for Drug Evaluation has introduced a risk-based process to initiate on-site inspections related to drug registrations. It is hoped the novel system will suit the current capacity of auditor teams against a backdrop of an ongoing spike in product approval applications in the country since 2019.