Immunome Acquires Hard-to-Treat Desmoid Tumor Assets for $50 Million; Junheng Pharmaceuticals Secures Tens of Millions in Angel Funding for Innovative TCM Platform

1. $50 Million: Immunome Challenges Pfizer's Spin-off Company’s Key Desmoid Tumor Drug

Immunome Purchases Ayala Pharmaceuticals' Desmoid Tumor Drugs AL102 and AL101 for $50 Million, Claiming They May Be More Effective Than the Marketed Nirogacestat. Phase 2 clinical data for AL102 shows a high response rate and significant anti-tumor activity. Desmoid tumors are a rare disease, and the development of this drug is of great significance for patient treatment.

2. Jazz Pharmaceuticals Signs Definitive Agreement to Acquire Global Rights to KRAS Inhibitor Program from Redx Pharma

Jazz Pharmaceuticals and Redx Pharma Sign Agreement for Jazz to Acquire Redx’s KRAS Inhibitor ProgramJazz Pharmaceuticals and Redx Pharma have signed an agreement allowing Jazz to acquire Redx's KRAS inhibitor program, with Jazz taking responsibility for clinical development, regulatory, manufacturing, and commercialization activities. The deal includes a $10 million upfront payment and potential milestone payments of up to $870 million. KRAS is a validated oncology target with unmet needs, and Redx has identified preclinical KRAS candidates. Jazz aims to identify and advance the most promising molecules to expand its early-stage oncology pipeline.

3. Some medical aesthetics listed companies disclosed their performance forecasts for last year, with Langzi Co., Ltd. showing the largest increase in net profit.

Multiple medical aesthetics listed companies release 2023 earnings forecasts: Huadong Medicine, Haohai Biotech, Lanzee Co., Ltd., and Aimeike show performance growth, with Lanzee Co., Ltd. having the largest increase in net profit. Jiangsu Wuzhong and ST Meigu continue to incur losses. Huadong Medicine's medical aesthetics business maintains rapid development, Haohai Biotech sees growth in sales revenue across all product lines, and Aimeike reaches a record high. Jiangsu Wuzhong’s medical aesthetics business is still in the R&D and registration stage and has not yet achieved profitability.

4. This Biotech Startup Just Raised $105 Million to Eliminate Inflammation at Its Source

Inflammation is a chronic condition, and Cour Pharmaceuticals is developing drugs that target its source, akin to shutting off a fuel valve to stop a fire. The startup's approach has been validated by a large pharmaceutical company, which is currently testing one of its programs in mid-stage clinical trials. Cour aims to differentiate its method from others in immunology, particularly in the field of autoimmune disease research where regulatory T cells (Tregs) are utilized to counteract excessive immune responses. However, Tregs can cause immunosuppression beyond their intended targets, presenting a challenge. Despite limited clinical data, Treg-focused startups are designing them to treat various inflammatory conditions.

5. Focusing on the New Generation of Weight Loss Therapies, Eli Lilly Partner BioAge Completes $170 Million Series D Financing

BioAge Labs Completes $170 Million Series D Financing, with Participation from Multiple Investment Institutions, Aiming to Develop Next-Generation Oral Weight-Loss Drugs While Preserving Muscle Mass, Advance the Development of Potential “First-in-Class” Therapy BGE-105, and Launch Phase II Clinical Trials in Collaboration with Eli Lilly to Evaluate Obesity Treatment Efficacy.

6. Junheng Pharmaceutical Completes Tens of Millions of Angel Financing to Advance Innovative Traditional Chinese Medicine Development Based on Quality Markers

On February 18, 2024, Hangzhou Junheng Pharmaceutical Co., Ltd. officially announced the completion of an angel round of financing worth tens of millions of yuan. This round of financing was exclusively funded by Huafang Capital and will mainly be used for the construction of an innovative traditional Chinese medicine (TCM) development platform based on modern clinical needs and the expansion of the talent team. Headquartered in Hangzhou, Junheng Medicine is a technologically leading TCM CXO company. In February 2021, its subsidiary, Junheng Medicine (Shanghai) Co., Ltd., was established. As a high-growth startup, Junheng Medicine has become a functional platform unit for biopharmaceutical research and transformation in Shanghai. Relying on its unique quality marker activity tracking platform and multi-target efficacy screening platform, it can carry out research on the material basis of TCM, pharmacodynamic evaluation, quality process research, mechanism of action studies, and new drug registration services. Currently, the Junheng Research and Development Center covers an area of over 2,000 square meters, equipped with advanced domestic formulation production and testing equipment, demonstrating significant technological advantages and development potential.