Investors Get Selective As China Biotech Funding Rebounds
Oversee returnee-founded Chinese biotech start-ups Nuwacell and Arnatar secure $14m in series A and seed rounds respectively, while four other major deals backed by private equity and venture capital firms raise a combined $116m.
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The company, which has struggled in the clinic following a deal where Pfizer bought its migraine portfolio, is licensing the dual inhibitor drug from a Chinese firm for up to $970m.
Full-Life’s acquisition of Focus-X came after two other Chinese biotechs leaped into the fray for a leading position in China’s nascent radionuclide therapy market.
In the latest venture capital and private equity funding deals in China, SanegeneBio, Argo Biopharma and Ausper Biopharma raised a combined $136m on the back of their early-stage small interfering RNA and antisense oligonucleotide assets.