Kintor Pharmaceuticals completes $240 million IPO; WuXi Biologics is opening a Boston plant
→ A China-based cancer drug developer, looking to pip J&J and Pfizer in castration-resistant prostate cancer, has completed a $240 million IPO on the Hong Kong Stock Exchange, marking the fifth oversubscribed IPO on the HKEX since December, the South China Morning Post reported. Jiangsu-based Kintor Pharmaceuticals‘ lead drug, proxalutamide, is an androgen receptor antagonist now in Phase III trials in China and Phase II in the United States.
→ China’s WuXi Biologics has struck a deal to acquire a site for a new US-based manufacturing facility in the Boston area. The company reported that it finalized plans with the Worcester Business Development Corporation to build a 107,000-square-foot, two-story facility on their bio-manufacturing campus that will go online in 2022. The new operations will create 150 new jobs.
→ Another HKEX-listed biotech, Innovent Biologics, is tying up with The University of Texas‘ MD Anderson Cancer Center today to co-develop sintilimab, an anti-PD-1 monoclonal antibody, for use in rare cancers in the United States. The drug, branded as Tyvyt, was approved in 2018 in China for the treatment of relapsed or refractory classic Hodgkin’s lymphoma and is also being evaluated for solid tumors.
→ San Francisco-based Fountain Therapeutics has bagged an additional $6 million in a Series A-1 to recruit the management team and refine the platform tech for decoding the cellular aging process and developing treatments for age-related diseases. Khosla Ventures joined Nan Fung Life Sciences, which had provided an initial $5 million back in May 2018, on the syndicate.