Zai Lab licenses psoriasis drug from Crescendo; HitGen, Lion raise cash for discovery and development work in Asia
→ Shanghai’s Zai Lab has inked an exclusive licensing deal with Crescendo Biologics under which Zai Lab will develop, commercialize, and manufacture a topical antibody VH domain therapeutic for inflammatory applications. Crescendo’s product candidate was developed using the company’s transgenic platform, which makes novel small protein drugs based on fully human VH domain building blocks. Zai Lab plans to file an IND for the drug’s clinical studies in psoriasis in 2019, according to a company statement.
→ Chengdu, China-based HitGen has raised about $39 million to help build up its drug discovery platform. CDH and Leadyond capital led the round for HitGen, which was founded about 6 years ago.
→ Singapore-based Lion has raised $20 million to back development of its TCR T cell therapy in Asia. Yashang Capital and Westlake Ventures Capital joined the syndicate backing the biotech.