Evening News: Bayer's BAY 2927088 Receives China Breakthrough Therapy Designation for HER2-Mutant NSCLC; Sino Biological Faces Major Share Unlock

1. Bayer's BAY 2927088 Receives Breakthrough Therapy Designation in China for the Treatment of HER2-Mutant Non-Small Cell Lung Cancer

Bayer's BAY 2927088 is an oral tyrosine kinase inhibitor that has received Breakthrough Therapy Designation from China's Center for Drug Evaluation (CDE) for the treatment of HER2-mutant non-small cell lung cancer (NSCLC) patients with unmet medical needs. This designation, similar to the one granted by the U.S. FDA in February 2024, highlights BAY 2927088 as a potential new targeted treatment option for NSCLC patients who have previously received systemic therapy, with the expectation of delivering greater benefits than existing therapies.

2. Sino Biological Inc. Faces Large-Scale Lifting of Restrictions: Continuous Decline in Performance, COVID-19 Business Yet to Be Cleared, Financial Gains Account for Over 30% of Profits

Sino Biological Inc.'s Share Repurchase Fails to Boost Stock Price; Company's Performance Declines Year by Year, COVID-19 Business Yet to Be Fully Written Off, High Proportion of Income from Investment Products. The company’s stock price has continued to fall since its listing, dropping nearly 80%. Despite explosive growth in performance during the COVID-19 pandemic, sustainability remains questionable.

3. XBP Completes Tens of Millions of Yuan in Pre-A Round Financing, Developing Portable Dialysis Machines to Aid Millions of Dialysis Patients with Nearby and Home Treatment

On June 11, 2024, Shanghai XBP Biomedical Co., Ltd. announced the completion of a multi-million Pre-A round of financing co-invested by Haimede Ventures, Shanghai Tianxiang Industry, and existing shareholders. XBP was founded in 2018 in the Fudan Science Park and is committed to advancing the convenience of dialysis technology, allowing more than three million uremic patients worldwide to return to a normal life.

4. QUANMAG: World's First Certification for Liquid-Helium-Free Quantum Magnetoencephalography, Filling the Gap in China-Produced Equipment

QUANMAG Launches World's First Liquid-Helium-Free Quantum Magnetoencephalography System, Approved by NMPA. This technology operates at room temperature without the need for liquid helium, reducing costs and simplifying the installation process, enhancing the efficiency and clinical application scope of magnetoencephalography, aiding in the early diagnosis and evaluation research of brain disorders.

5. Accelerate Expansion in the Middle East Market: Shanghai Henlius Biotech's Biosimilar Hanquyou Sets Sail for Saudi Arabia

Shanghai Henlius Biotech, Inc.'s Hanquyou Biosimilar Sets Sail for Saudi Arabia, Accelerating Expansion in the Middle East Market to Help Global Patients Access High-Quality Biologics. The product has been approved for marketing in over 40 countries worldwide and has become a major revenue driver for the company, with Q1 sales revenue increasing by 24.6% year-over-year.

6. Innostellar Biotherapeutics Completes B+ Round Financing to Advance Gene Therapy Drug R&D and Industrialization

Innostellar Biotherapeutics Completes B+ Round Financing, Supported by Shanghai Biomedical Industry Fund and United Investment, Accelerating R&D and Industrialization of Gene Therapy Innovative Drugs, Advancing Clinical Trials for Multiple Ophthalmic Indications to Provide Patients with Efficient and Safe Treatment Solutions.