Amid widespread speculation about a pickup in acquisitions of struggling Chinese biotechs by their cash-rich compatriot drug makers, Northeast Pharmaceutical Group Co., Ltd., a traditional producer of active pharmaceutical ingredients and generic drugs, has emerged as an unlikely player to outpace China's well-funded major pharmas to cut the first buyout deal of 2024.
Northeast’s DCTY Deal Marks China’s First Domestic Biotech Acquisition Of '24
If closed successfully, the traditional producer of active pharmaceutical ingredients and generic drugs will scoop up the world’s second advanced KRAS G12D-targeting T-cell receptor (TCR) T cell therapy candidate, as well as an EGFR variant III-targeting chimeric antigen (CAR) receptor T-cell agent. Out-licensing efforts are already under way.