Hasten Joins China's PCSK9 Race With In-Licensing, Commercialization Capabilities
Chinese firm Hasten has gained greater China rights to LIB Therapeutics’ lerodalcibep for hypercholesterolemia and believes its bet on the unique PCSK9-binding small protein will be backed by strong commercialization capability, the company says in an interview with Scrip.
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Plus deals involving Astellas/Menarini, Maruho/Fortress Biotech, Zenas/Bristol Myers Squibb, Huadong Medicine/MC2 and more.
Hasten brought in $315m, and Orbital garnered $270m, but while multiple venture firms have raised large new funds, Q1 saw the lowest amount of biopharma VC fundraising in a single quarter since 2019.
Confidence in growing in-house commercial capabilities has recently prompted several Chinese pharmas, including Simcere and 3SBio, to focus on obtaining domestic rights to novel drug assets developed by other China-based biotechs, rather than pursuing international deals.