China Biotechs Bag $740m As Ox Makes Way For Tiger
With the Lunar New Year just around the corner, Chinese biotechs have raised a total of $740m through initial public offerings and 10 other fundraising deals.
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The annual reimbursement price negotiations between pharma firms and China’s National Healthcare Security Administration are just around the corner. While some have chosen to walk away from the process completely, others including majors BeiGene and Hengrui are girding up for another round of potentially deep cuts.
Leading the group were Trinomab Biotech, which develops antibodies for infectious diseases, and cell and gene developers BRL Medicine and XellSmart.
Transactions involving Biocon/Zentiva, CrystalGenomics/PanGen, Umoja/IASO, Marinus/Tenacia, Ono/Captor and Daewoong/HitGen plus deals in brief.