Red Tree Venture Capital closed its first fund with $272m for biotech companies emerging from academic and research institutions, seeking to fill a need for early-stage funding on the West Coast. 

RemeGen touched down in Shanghai to score a dual listing on top of a 2020 initial public offering in Hong Kong. Meanwhile, domestic HPV vaccine maker Recbio and small molecule-focused Shouyao made their debuts on the Hong Kong and Shanghai markets respectively.

Chinese vaccine maker Recbio hopes an IPO in Hong Kong will bring investor attention to its mRNA COVID vaccine with potential against the Omicron variant.

The leader in China's homegrown mRNA COVID-19 vaccine effort expects a delay to key Phase III results, with analysts now expecting to see figures from the international portion of the study in early 2022.