Chi­nese phar­ma pow­er­house Han­soh joins fledg­ling biotechs in the Hong Kong IPO line

More than four months af­ter first open­ing its doors to a big crowd of R&D fo­cused biotechs, the Hong Kong Stock Ex­change has seen a spe­cial guest walk in: A sto­ried com­pa­ny run­ning a prof­itable in­no­v­a­tive and gener­ic drug busi­ness in Chi­na.

Hui­juan Zhong

Jiang­su Han­soh is fil­ing for an IPO two years af­ter ru­mors of a $3 bil­lion pub­lic de­but first sur­faced. It was found­ed and still run by Hui­juan Zhong, one half of a pow­er cou­ple tow­er­ing over Chi­na’s phar­ma in­dus­try. Her hus­band, Piaoyang Sun, is the head of Jiang­su Hen­grui Med­i­cine, in­ter­na­tion­al­ly known for a PD-1 drug In­cyte paid mil­lions to part­ner with.

Zhong cur­rent­ly holds a con­trol­ling stake in the com­pa­ny — 78% — through a ver­ti­cal line of en­ti­ties, while Cen Jun­da of Apex Med­ical claims 19%. Hill­house Cap­i­tal is in for 3% based on a 2016 in­vest­ment.

In the 20-plus years since Zhong first cre­at­ed the com­pa­ny, she has built an in­te­grat­ed R&D and man­u­fac­tur­ing op­er­a­tion with com­mer­cial drugs in six ther­a­peu­tic ar­eas — cen­tral ner­vous sys­tem, on­col­o­gy, an­tibi­otics, di­a­betes, gas­troin­testi­nal and car­dio­vas­cu­lar. In 2017, Han­soh booked around $900 mil­lion (RMB $6185.5 mil­lion) in rev­enue.

Two key con­trib­u­tors to that fig­ure are its gener­ic olan­za­p­ine tablets — sold as a treat­ment of schiz­o­phre­nia and bipo­lar dis­or­der — and copy­cat ver­sion of chemother­a­py drug peme­trexed.

While this kind of first-to-mar­ket gener­ic will re­main a core fo­cus for Han­soh as a pub­lic com­pa­ny, it al­so has an am­bi­tious plan for the nov­el com­pounds in its gi­ant pipeline, which to­tals “near­ly 100 drug can­di­dates.”

In its ap­pli­ca­tion, Han­soh spot­light­ed four of these among the 30 as­sets it’s look­ing to launch be­tween now and 2020: HS-10296, an EGFR ty­ro­sine ki­nase in­hibitor for non-small cell lung can­cer; fluma­tinib me­sy­late, which at­tempts to treat chron­ic myel­oge­nous leukemia by tar­get­ing the Bcr-Abl gene; he­pati­tis B drug HS-10234; and a long-act­ing GLP-1 ther­a­py dubbed poly­eth­yl­ene gly­col lox­e­natide.

Dan Skovronsky, Eli Lilly CSO

UP­DAT­ED: An­a­lysts are quick to pan Eli Lil­ly's puz­zling first cut of pos­i­tive clin­i­cal da­ta for its Covid-19 an­ti­body

Eli Lilly spotlighted a success for one of 3 doses of their closely-watched Covid-19 antibody drug Wednesday morning. But analysts quickly highlighted some obvious anomalies that could come back to haunt the pharma giant as it looks for an emergency use authorization to launch marketing efforts.

The pharma giant reported that LY-CoV555, developed in collaboration with AbCellera, significantly reduced the rate of hospitalization among patients who were treated with the antibody. The drug arm of the study had a 1.7% hospitalization rate, compared to 6% in the control group, marking a 72% drop in risk.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 90,300+ biopharma pros reading Endpoints daily — and it's free.

Leen Kawas, Athira

Seat­tle-based Athi­ra, aim­ing for tough Alzheimer's and Parkin­son's tar­gets, rais­es $204M for IPO

Following an $85 million Series B round back in June, Athira Pharma is set to become the third biotech in the last three days to go public Friday.

Athira raised $204 million for its IPO after pricing shares at $17 apiece, the high-point of its expected range. Initially pegging $100 million in financing, Athira said it offered 12 million total shares and will trade under the ticker $ATHA.

Now that Athira plans to hit the Nasdaq, there have been more than 50 biotech IPOs this year, more than the total from last year. Combined, the companies have raised more than $11 billion. Over half of those biotechs, including Athira, raised at least $200 million each.

#ES­MO20: Alk­er­mes of­fers their first snap­shot of a ben­e­fit for their next-gen IL-2 drug. But why did 1 pa­tient starve to death?

Everyone in the cancer R&D arena is looking to build new franchises around better drugs and combos. And one busy pocket of that space is centered entirely on creating an IL-2 drug that can be as effective as the original without the toxicity that damned it to the sidelines.

Alkermes $ALKS formally tossed its hat into the ring of contenders at virtual ESMO today, highlighting the first glimpse of efficacy for their candidate, ALKS 4230, as both a monotherapy as well as in combination with Merck’s Keytruda.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 90,300+ biopharma pros reading Endpoints daily — and it's free.

Albert Bourla (Photo by Steven Ferdman/Getty Images)

Pfiz­er match­es Mod­er­na with their full Covid-19 tri­al blue­print — As­traZeneca says it will un­veil its pro­to­col 'short­ly'

Yesterday, after sustained public pressure as Moderna released its Phase III Covid-19 trial blueprint, Pfizer released its own full trial design for their vaccine trials. The move was designed to boost transparency and shore up public trust in the vaccines, but it also revealed differences in how the two companies are approaching the much-watched studies while failing to satisfy the demands of the fiercest advocates for transparency.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 90,300+ biopharma pros reading Endpoints daily — and it's free.

Stronger to­geth­er? Boehringer and Mi­rati team to put first KRAS-KRAS com­bo in the clin­ic

Researchers are still waiting to see how much any of the vaunted KRAS drugs now in the clinic can, after decades of preclinical research and some early human studies, help patients. But while they do, two of the leading developers will look to see whether a KRAS-KRAS combo might pose a better shot than any KRAS alone.

Boehringer Ingelheim and Mirati have signed a collaboration to combine Mirati’s closely-watched lead KRAS inhibitor, MRTX849, in a clinical trial with the pan-KRAS blocker that Boehringer has quietly developed with high expectations behind their flashier contenders.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 90,300+ biopharma pros reading Endpoints daily — and it's free.

#ES­MO20: Re­gen­eron, Sanofi eye an­oth­er first for their PD-1 con­tender Lib­tayo with promis­ing da­ta for on­col­o­gy niche

Regeneron and Sanofi took another step forward in the long march towards a greatly expanded market for their late-bloomer PD-1 checkpoint Libtayo.

The two occasional allies posted an objective response rate of 31% for Libtayo among 84 patients suffering from advanced cases of basal cell carcinoma at virtual ESMO. That spotlights progress for 26 patients, 5 of whom had a complete response. The data also reflect a boost in the number of responses seen from the last cut of the numbers.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 90,300+ biopharma pros reading Endpoints daily — and it's free.

Albert Bourla, Pfizer CEO (Steven Ferdman/Getty Images)

Pfiz­er ex­ecs con­fi­dent­ly tap their top 10 block­busters-to-be. But what are the chances of sur­viv­ing PhI­II, let alone hit­ting these big peak sales es­ti­mates?

Pfizer’s top executive team doesn’t lack for confidence.

Where many Big Pharmas would be reluctant to put a peak sales figure on their late-stage drugs, Pfizer CEO Albert Bourla has shrugged off the usual diffidence to outline where the pharma giant expects to get $15 billion-plus.

The list, outlined this week during their investor presentations, is topped by 3 drugs in the $3 billion-plus peak sales category. They are:

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 90,300+ biopharma pros reading Endpoints daily — and it's free.

Christian Itin, Autolus CEO (Autolus)

#ES­MO20: Au­to­lus pro­vides glimpse of next-gen­er­a­tion CAR-T pro­gram, show­ing ear­ly pos­i­tive safe­ty da­ta

CAR-T therapies were hailed as a breakthrough when Novartis received the first FDA approval for Kymriah back in 2017. Though highly effective at treating certain types of blood cancers, CAR-Ts are also associated with severe and potentially deadly side effects, including lethal instances of cytokine release syndrome.

With this in mind, Autolus Therapeutics is looking to take a crack at a safer CAR-T and presented Phase II cohort data for its AUTO3 program at virtual ESMO 2020. The data showed that, among the 35 patients in the cohort being treated for r/r diffuse large B cell lymphoma, there were no instances of Grade 3 or higher CRS. Eight individuals saw Grade 1 inflammation while another four patients reached Grade 2.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 90,300+ biopharma pros reading Endpoints daily — and it's free.

One month af­ter $115M megaround, mus­cle dis­ease-fo­cused Dyne goes pub­lic with $233M IPO

After completing a financing megaround for $115 million just a little over a month ago, Dyne Therapeutics is ready to hit the Nasdaq on Thursday.

The biotech has raised $233 million for its public offering after pricing shares at $19 apiece, above its expected range of $16 to $18. That’s an offering that’s well-upsized — by about 33% — after Dyne initially filed its S-1 in late August, when it estimated only a $100 million raise. Dyne will trade under the ticker $DYN.