It was a quiet week for biotech news in the Chinese market. Here is a brief overview of the notable events that occurred during this time. Zenas BioPharma staged a rare US biopharma IPO worth $259 million to complete development of its product.
Structure Therapeutics announced positive clinical results for its obesity drug, and then raised $476 million via an offering of its ADSs. Meanwhile, Alphamab Oncology announced a deal with ArriVent BioPharma.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
I-Mab will become a completely US-based company, divesting itself of I-Mab Biopharma (Hangzhou), an unconsolidated affiliate. I-Mab Hangzhou will acquire rights to I-Mab’s drug assets in Greater China for $80 million.
MediLink Therapeutics out-licensed global rights for its antibody-drug conjugate candidate to BioNTech in a $1.1 billion agreement. Meanwhile, BioMap formed a collaboration with Sanofi in a deal with potential value of more than $1 billion.
While ANL's IPO dropped more than 25% on its first day, netting just under $60M, private placement made up the difference. Plus: Deals, financings, trials and approvals.
Shanghai GenFleet Technologies partnered three preclinical small-molecule candidates for RAS pathway-driven cancers to Verastem Oncology in a deal that could be worth up to $625.5 million. GenFleet will receive an initial payment of $11.5 million.
Wall Street bonuses fell 26% last year. This was the biggest drop since 2008. Wall Street is estimated to be responsible for 16% of all economic activity in NYC. Wild nights out for ibankers slowing down?
