Week in Review: RemeGen, a Yantai Biologics Company, Completes $515 Million Hong Kong IPO

Deals and Financings   RemeGen, a Yantai biotech nearing commercial stage, completed a $515 million IPO on the Hong Kong exchange to develop biologics for autoimmune diseases and cancer; Ambrx, a San Diego antibody conjugate biopharma owned by China investors, completed an oversubscribed $200 million crossover financing; Pharmaron Beijing, a CRO/CMO, acquired Absorption Systems of Philadelphia in a deal worth up to $137.5 million; China 's Tencent co-led a $50 million C round for Congenica, a Cambridge UK genomic analysis company; Shanghai Zhimeng Biopharma closed a $35 million Series A round to support clinical trials of its novel hepatitis B virus treatment; Inmagene Biopharma of Shanghai completed a $21 million Series B financing, led by Vertex Ventures China, for immunology-related therapies; HitGen of Chengdu out-licensed China rights for its Trk/ROS1 inhibitor to Guangzhou Baiyunshan Pharma; Hangzhou Innoforce formed a JV with Thermo Fisher Scientific to build a large biologics and steriles R&D and manufacturing facility in Hangzhou ; ChinaBio® Exclusive   Decheng Capital discusses the $2.75 billion Merck acquisition of VelosBio, a US oncology company, which it backed starting with seed financing; COVID-19 Pandemic   GenScript announced its cPass™ SARS-CoV-2 Neutralization Antibody Detection Kit was approved in the US under Emergency Use rules; Fosun Pharma's in-licensed COVID-19 vaccine reported 90% efficacy in US-EU Phase III tests, conducted by Pfizer and Germany 's BioNTech; Trials and Approvals   Suzhou CStone reported China 's NMPA accepted for review its NDA for an anti-PD-L1 mAb as a first-line therapy for non-small cell lung cancer; Beijing 's BeiGene announced that China regulators will review its BLA for a novel neuroblastoma therapy; Calliditas Therapeutics of Sweden published positive results from a novel rare disease therapy; Everest Medicines has in-licensed China rights; Shanghai 's I-Mab reported positive initial results from a US Phase I trial of its CD47 treatment for solid tumors and lymphoma; Apollomics, a US-China biopharma, was approved to start a Phase I trial of a novel treatment with several mechanisms for solid cancers in China . Stock Symbols: (NYSE: MRK) (HK: 9995) (SHZ: 300759; HK: 3759) (SHA: 688222) (SHA: 600332; HK: 00874) (NYSE: TMO) (HK: 1548) (HK: 2616) (SHA: 600196; HK: 02196) (NSDQ: BGNE; HK: 06160) (NSDQ: CALT) (HK: 1952) (NSDQ: IMAB) Share this with colleagues: // //