Source: 21st Century Economic Report
Editor: Ji Yuanyuan, Xu QiulianWelcome to follow the latest events in the pharmaceuticals and health industry with the 21st Century Economic Reporting New Health team!
According to the Beijing Municipal Medical Insurance Bureau, starting from July 1, insured individuals in Beijing can use their personal medical insurance accounts to purchase over-the-counter medications online at 300 designated retail pharmacies through the Meituan and JD Health platforms. For prescription drugs issued by doctors within hospitals, insured residents of the city can pay for them online via mobile phone at hospitals that have enabled mobile medical insurance payment. Currently, 117 hospitals have implemented the mobile medical insurance payment function, and 50 designated hospitals have launched this service on their own apps or mini-programs. For externally dispensed prescriptions issued by doctors, insured individuals can purchase the medications by swiping their card or scanning their medical insurance code at designated pharmacies.21 Comments: The move by Beijing to enable online drug purchases through individual medical insurance accounts helps enhance the convenience of medical treatment and drug procurement, as well as promote the development of the pharmaceutical e-commerce industry. The Beijing Municipal Medical Insurance Bureau also stated that it will continue to advance related work on enabling medical insurance payments for online drug purchases in Beijing, gradually increasing the number of designated retail pharmacies offering online payment for over-the-counter drugs, expanding coverage to wider areas, and allowing more insured individuals to benefit from convenient and efficient medical insurance services. Additionally, the Beijing Municipal Medical Insurance Bureau will continue to strengthen the supervision of medical insurance fund usage by designated retail pharmacies, monitor drug prices at these pharmacies, and ensure the safe and efficient operation of medical insurance funds.
On July 1, Argo announced that the first patient dosing in the Phase 1 clinical trial in China for BW-03, targeting chronic hepatitis B, was completed on June 27, 2024. BW-03 is a novel siRNA (small interfering nucleic acid drug) independently developed by Argo for the treatment of chronic hepatitis B. Previously, the global Phase 1 clinical trial for this drug conducted in Australia, Hong Kong, China, and Thailand has completed the enrollment of all subjects.
- Huadong Medicine's HDM2005 Injection Clinical Trial Application Approved by U.S. FDA
On July 1, Huadong Medicine Co., Ltd. announced that the clinical trial application for the injectable drug HDM2005 submitted by its wholly-owned subsidiary, Zhongmei Huadong, has been approved by the U.S. FDA, allowing the Phase I clinical trial to be conducted in the United States.
- Menovo's Dapagliflozin Tablets Receive Drug Registration Certificate
On July 1, Menovo announced that its wholly-owned subsidiary, Ningbo Menovo Tiankang Pharmaceutical Co., Ltd., had recently received two specifications of Dapagliflozin Tablets 《Drug Registration Certificates》 issued by the National Medical Products Administration. Dapagliflozin Tablets are used for adult patients with type 2 diabetes, adult patients with heart failure, and adult patients with chronic kidney disease. According to IMS data statistics, the global sales of Dapagliflozin Tablets in 2023 were $13.042 million, of which sales in China were $493,000.On July 1, Guangzhou Colony Biotechnology Co., Ltd. announced that it had recently completed a C+ round of financing worth 300 million yuan, exclusively invested by SDIC Julive. According to the press release, the new round of funding will mainly be used to advance the scaled production and commercial implementation of more biologically innovative products from the company.
- Yuheng Bio Introduces CXCR4 Antagonist to Boao, Hainan
On July 1, Yuheng Bio announced that its core product, the innovative cell-driving factor receptor CXCR4 antagonist motixafortide, has recently been approved by the Hainan Provincial Drug Administration for an urgently needed special drug import license. It has successfully landed in the Boao Lecheng Pilot Zone and will first be applied clinically at the Boao Super Hospital. Motixafortide was approved for marketing by the U.S. FDA in September 2023 as an innovative stem cell mobilizer for multiple myeloma (MM).
- Moutai Establishes Biotechnology Industry Fund
On July 1, Tianyancha showed that Maotai Jinsi (Guizhou) Biotechnology Industry Fund Partnership (Limited Partnership) was established, with Jinsi Investment Co., Ltd. as the executive partner, and a registered capital of 1.5 billion RMB. The partner information showed that the fund was jointly funded by Maotai Jinsi (Guizhou) Industrial Development Fund Partnership (Limited Partnership), etc. 
Industry Highlights
- Oral Tau Protein-Targeted Therapy for Alzheimer's Disease Submitted for Market Approval
On July 1, TauRx Pharmaceuticals announced that it had submitted a UK marketing authorization application for Hydromethylthionine Mesylate, a Tau aggregation inhibitor, for the treatment of mild cognitive impairment and mild to moderate dementia caused by Alzheimer's disease.21 Comments: Alzheimer's disease (AD) is the most common cause of dementia in the elderly. Research indicates that treatments targeting the Tau protein may be more effective once cognitive decline begins. Moreover, most tau-targeted drugs currently in clinical trials are immunotherapies. According to Data Bridge Market Research, the Alzheimer's disease market size could reach 9.73 billion USD by 2030.
- Heartpulse Medical Plans to Acquire 72.37% Equity of Optimum Medical Device Inc. for 65 Million USD
On July 1, Heartpulse Medical announced that its wholly-owned subsidiary, MICROPORT ENDOVASTEC B.V., plans to use its own funds of 65 million US dollars to acquire 72.37% of the equity in Optimum Medical Device Inc. ("OMD") held by Earl Intellect Limited and Turbo Heart Limited. After the completion of this transaction, OMD will become a wholly-owned subsidiary of the company.
Public Opinion Early Warning
- Huiyu Pharma Withdraws the Registration Application for Cytarabine Injection
On July 1, Huiyu Pharmaceutical announced that it had recently received the "Notice of Termination of Drug Registration Application" issued by the National Medical Products Administration, approving the company's withdrawal of the registration application for Cytarabine Injection. Cytarabine Injection is mainly applicable for the induction remission and maintenance treatment of acute non-lymphocytic leukemia in adults and children. Huiyu Pharmaceutical submitted the marketing registration application for this product to the National Medical Products Administration in September 2022 and obtained acceptance. Huiyu Pharmaceutical stated that after careful research and consideration of the R&D strategy, it decided to voluntarily withdraw this registration application.
