Major Milestones in China's Biopharma Sector: CSPC Receives $1.2B from AstraZeneca, Haisco Inks $3.05B Deal with Lilly and Secures FDA Approval for Fospropofol

Jun 11, 2026 14:38 CST Updated 14:38

CSPC

Innovative Drug Research and Development, Manufacturer

AstraZeneca

Pharmaceutical Technology Research and Development Provider

iRegene Therapeutics

Cell Therapy Product Developer

Haihe Biopharma

Developer of Innovative Anti-Tumor Drugs

Haisco

New Drug Research and Development, Production, and Sales

Global Biopharmaceutical Industry Trends

Capital Markets

Intensive Implementation of Industry Collaborations, Financing, and M&A: iRegene Therapeutics Completes RMB 210 Million C1 Round of Financing, Co-led by Guanghe Ventures and Xingze Capital; CSPC Receives $1.2 Billion Upfront Payment from AstraZeneca; Haihe Biopharma Submits IPO Application for the STAR Market, Seeking to Raise RMB 2.9 Billion; Haisco Reaches $3.054 Billion Collaboration Agreement with Eli Lilly, and Ciprofol Injection Approved by FDA for Market Launch; Xueji Biology Completes Second Closing of Series B Financing, with Capital Increase of Nearly RMB 300 Million; Servier Acquires Edgewise’s Muscular Dystrophy Assets for $2.65 Billion; Shuyin Zhike Completes Pre-A Round of Financing, Led by Cabio; Avenzo Goes Public via Merger, Completing $215 Million Financing; Simcere Pharmaceutical Enters into Exclusive Promotion Partnership with Puqi Pharmaceutical for Pumecitinib Gel; Everest Medicines Reaches Licensing Collaboration with Travere Therapeutics Worth Over $1.1 Billion; Fosun Pharma Deepens Strategic Cooperation with China Pharmaceutical University; Weiker Medicine Completes Nearly RMB 200 Million in Series C3 Financing; NewLimit Completes $435 Million Series C Financing, Post-Money Valuation Reaches $3.1 Billion.

Clinical Progress

Positive developments in metabolism, oncology, and autoimmune diseases: Q-1802 (Qiyu Bio) achieved a disease control rate (DCR) of 98.3%, an objective response rate (ORR) of 70.0%, and a median progression-free survival (mPFS) of 11.3 months in Phase Ib/II gastric cancer trials; HRS-7535 (Hengrui Medicine) reduced HbA1c by -1.19% to -1.82% from baseline (P<0.001) in Phase II trials for type 2 diabetes; Ruokaiqibaimab (Junshi Biosciences) significantly improved NAPSI scores (p<0.0001) in Phase III psoriasis trials and achieved an ASAS 40 response rate of 51.4% in Phase II ankylosing spondylitis trials; IBI343 (Innovent Biologics) met its primary endpoint in Phase III gastric cancer trials; Orelabrutinib (Noah Biopharma) demonstrated an SRI-4 response rate of 57.1% (P=0.01) in Phase IIb lupus erythematosus trials. IND approvals: SYS6063 (CSPC), an mRNA-LNP dual-target CAR-T therapy, approved for clinical trials in systemic lupus erythematosus (SLE); ALN-6222 (Alnylam), a weight-loss siRNA, entered Phase I registration trials; 9MW5211 (Mabwell Bioscience), an antibody drug for inflammatory bowel disease (IBD), approved for clinical trials.

Regarding Industry Strategic Adjustments

Accelerated Capitalization in the Pharmaceutical Industry and Continuous Upgrading of R&D Models: Multiple companies are increasing investment in core platforms such as AI-enabled chemical induction, nanodelivery systems, circular RNA, antibody-drug conjugates (ADCs), and radiopharmaceuticals. Domestic pharmaceutical enterprises are accelerating the overseas licensing and commercial collaborations of innovative drugs, while multinational pharmaceutical companies are deeply engaging with Chinese innovations through in-licensing or clinical partnerships. AI-empowered drug discovery, in vivo cell therapy, and immune-targeted delivery technologies have become key directions for industry upgrading, with platform-based technology licensing and achievement transformation chains becoming increasingly mature.

Global Biopharmaceutical Industry

Significant Events

Global Innovative Drugs

Key Clinical Advances/Outcomes

Global Innovative Drugs

Key Investment, Financing, and Transaction Events

Weekly Summary

From June 1 to 5, 2026, the biomedical sector saw a surge in industrial collaboration, financing, and M&A activities, alongside frequent positive clinical developments: iRegene Therapeutics completed a C1 round of financing worth RMB 210 million; CSPC received a $1.2 billion upfront payment from AstraZeneca; Haihe Biopharma submitted its IPO application for the STAR Market, seeking to raise RMB 2.9 billion; Haisco reached a $3.054 billion collaboration agreement with Eli Lilly, while ciprofol gained FDA approval as China’s first independently developed intravenous anesthetic; Servier acquired Edgewise’s muscular dystrophy assets for $2.65 billion; and Shuyin Zhike, Avenzo, Simcere Pharmaceutical, Everest Medicines, Fosun Pharma, Vical Pharmaceuticals, and NewLimit all secured significant financing or partnerships. In clinical progress, Qiyu Bio’s Q-1802 achieved a disease control rate (DCR) of 98.3% in Phase Ib/II trials for gastric cancer; Hengrui’s HRS-7535 significantly reduced HbA1c levels in Phase II trials for diabetes; Junshi Biosciences’ nocobipamab met primary endpoints in both Phase III trials for psoriasis and Phase II trials for ankylosing spondylitis; Innovent Biologics’ IBI343 reached its primary endpoint in Phase III trials for gastric cancer; InnoCare’s orelabrutinib demonstrated a significantly superior SRI-4 response rate compared to placebo in Phase IIb trials for lupus erythematosus; and CSPC’s SYS6063 dual-target CAR-T therapy received approval for clinical trials in systemic lupus erythematosus (SLE). The industry overall exhibited upgrading trends characterized by AI empowerment, platform-based technology licensing, the global expansion of local innovations, and deeper ties between multinational pharmaceutical companies and Chinese innovation.

Investment and Financing

iRegene Therapeutics -- C1 Round Financing of RMB 210 Million

News: iRegene Therapeutics recently announced the completion of its C1 round of financing, raising RMB 210 million. This round was co-led by Guanghe Venture Capital and Xingze Capital.

Significance: The funds raised will be primarily used to advance the company’s core clinical pipeline, continuously upgrade the “AI + chemical induction” platform, build a large-scale production system, and pursue global clinical development and international commercial partnerships.

Xueji Biologics -- Nearly RMB 300 Million in Series B Capital Increase

News: On June 2, Suzhou Xueji Biotechnology Co., Ltd. announced the completion of the second closing of its Series B financing, securing over RMB 100 million in investment and bringing the total capital increase for Series B to nearly RMB 300 million. The investment in this second closing came from new shareholders such as Shenzhen Capital Group and Hebei Industrial Investment, as well as additional capital injections from existing shareholders including CDH Investments, Weidu Venture Capital, and other prior investors.

Significance: The Series B investment will be used to advance clinical trials for multiple indications of Xueji Biotech’s flagship product—the world’s first megakaryocyte injection—as well as to develop pipeline products such as platelet injections, aiming to address challenges including blood supply shortages and blood-borne diseases. Additionally, this capital increase will support the development of novel therapeutics derived from platelets for age-related indications.

Shuyin Zhike -- Pre-A Round Financing

News: Recently, Shanghai Shuyin Xinke Intelligent Technology Co., Ltd. officially announced the completion of its Pre-A round of financing. This round was led by Cabet, a company listed on the STAR Market, with follow-on investments from CSC Financial Capital, Lingang Digital Science Fund, Minjin Investment, and Kangrong Pharmaceutical. Previously, the company had completed its angel round of financing, with investors including Dexun Investment and Yunqi Capital.

Significance: To date, the company has secured cumulative financing totaling tens of millions of US dollars. The proceeds from this round will be primarily allocated to accelerating the advancement of its clinical pipeline, iterating its AI and high-throughput platforms, and expanding into the consumer-grade raw material market for siRNA.

Avenzo Therapeutics -- $215 Million Financing

Update: On June 1, Rallbio and Avenzo Therapeutics announced that they had entered into a definitive agreement under which Rallbio will acquire Avenzo through a merger transaction, with cumulative financing amounting to $446 million. In connection with the merger, Avenzo entered into a subscription agreement to simultaneously secure $215 million in an oversubscribed private placement financing.

Significance: The combined company expects its cash balance at the end of the period to fund operations through the end of 2028 and support the advancement of its four clinical-stage programs by achieving multiple clinical milestones, including updated Phase 1 data across the pipeline, initial clinical data for AVZO-023 and AVZO-021 in combination with fulvestrant, and the initiation of multiple Phase 2 studies across the pipeline.

Weikair Pharmaceutical -- Nearly RMB 200 Million in Series C3 Financing

Update: Recently, Jiangsu Vicur Pharmaceutical Technology Co., Ltd. successfully completed a Series C3 financing round of nearly RMB 200 million. This round was led by existing shareholder Hongcheng Investment, with continued support from shareholders such as Galaxy Venture Capital, Hangzhou Jinlong, Hongyao Sci-Tech Innovation, and Huadian Investment. Meanwhile, the company successfully introduced high-quality new institutional investors, including Huaful Ruixing.

Significance: Currently, the company is steadily advancing its pre-IPO financing round. The funds raised will be primarily allocated to the in-depth research and development of core innovative drug products, the iterative upgrade of the AI technology platform, and the establishment of a future commercialization system along with market expansion efforts, thereby creating a complete closed loop from drug R&D to industrial implementation.

NewLimit -- $435 Million Series C Financing

Update: On June 2, NewLimit, a San Francisco-based biotechnology company specializing in anti-aging epigenetic reprogramming, announced the completion of a $435 million Series C financing round, bringing its post-money valuation to $3.1 billion. The round was led by Peter Thiel’s Founders Fund, with participation from new investors Thrive Capital, Greenoaks, and Quiet Capital, as well as existing investors Kleiner Perkins, Eli Lilly Ventures, and Human Capital.

Significance: To date, NewLimit has raised a total of $710 million in financing (including $105 million from the founders in 2021, $40 million in Series A funding in 2023, and $130 million in Series B funding in 2025).

Haihe Biopharma -- STAR Market IPO Aims to Raise RMB 2.9 Billion

Update: Recently, the Shanghai Stock Exchange (SSE) accepted Haihe Biopharma’s IPO application for listing on the STAR Market. Haihe Biopharma had previously filed for a STAR Market listing in February 2021; after its review was deferred, the company’s second attempt was rejected in September 2021. The rejection was primarily attributed to the fact that all of the company’s core products then undergoing Phase II or later clinical trials were derived from licensed-in assets or collaborative R&D efforts. After five years of development, the company has once again chosen to file for an IPO on the STAR Market.

Significance: Through this listing, Haihe Biopharma plans to raise RMB 2.9 billion, primarily for new drug research and development projects and to supplement working capital. The company is a high-tech enterprise oriented toward unmet clinical needs, specializing in the discovery, development, and manufacturing of innovative drugs, as well as their commercialization in both domestic and international markets.

Transaction Authorization

CSPC -- Receives $1.2 Billion Upfront Payment from AstraZeneca

Update: On January 30, CSPC and AstraZeneca entered into a strategic R&D collaboration and licensing agreement to develop innovative long-acting peptide drugs leveraging CSPC’s proprietary sustained-release drug delivery technology platform and its AI-driven peptide discovery platform. CSPC will receive an upfront payment of $1.2 billion, and is eligible for up to $3.5 billion in potential R&D milestone payments and up to $13.8 billion in potential sales milestone payments, as well as tiered royalties at high double-digit percentages based on the annual net sales of the licensed products.

Significance: CSPC received the aforementioned $1.2 billion upfront payment from AstraZeneca on May 29, 2026.

Haisco -- Reaches $3.054 Billion Cooperation Agreement with Eli Lilly

News: On June 1, Haisco announced that its wholly-owned subsidiary had signed a "License and R&D Collaboration Agreement" with Eli Lilly, marking the start of a strategic partnership in the research and development of innovative drugs across multiple disease areas. Under the agreement, Haisco will be responsible for the discovery and early-stage development of up to five innovative drug projects targeting indications selected by Eli Lilly. Eli Lilly will obtain exclusive global rights to the relevant projects, or exclusive global rights excluding mainland China, Hong Kong, Macao, and Taiwan.

Significance: Haisco is entitled to receive upfront and near-term payments of up to $87 million, subsequent milestone payments of up to $2.967 billion, and tiered sales royalties based on the future net sales of the product (Up to $3.054 Billion! Haisco “Joins Hands” with Eli Lilly）. On the same day, Haisco's ciprofol injection was approved for marketing in the United States (China’s First! Haisco’s Original Anesthetic Drug Approved by FDA for Market Launch）, for the induction of general anesthesia in adults; this is the first independently developed intravenous anesthetic drug from China to receive FDA approval for market launch.

Servier -- Acquires Edgewise Therapeutics for $2.65 Billion

Update: On June 1, Servier announced the acquisition of Edgewise Therapeutics (Nasdaq: EWTX), a leading biopharmaceutical company specializing in muscle diseases, for $2.65 billion. Servier will acquire sevasemten and Edgewise’s muscular dystrophy business for an upfront cash consideration of $1.55 billion, plus additional milestone payments of up to $1.1 billion.$2.65 Billion! Servier Acquires Edgewise Therapeutics’ Muscular Dystrophy Assets）。

Significance: The transaction meaningfully strengthens Edgewise’s balance sheet and enhances financial flexibility. Upon completion of the transaction, Edgewise will become a company focused on cardiovascular diseases, with a product portfolio comprising EDG-7500 for hypertrophic cardiomyopathy, EDG-15400 for heart failure with preserved ejection fraction (HFpEF), and EDG-003 for an undisclosed target.

Simcere Pharmaceutical -- Exclusive Promotion Partnership with Puqi Pharma for Pumeicitinib Gel

Update: On June 1, Simcere Pharmaceutical Group announced that it had entered into an exclusive promotion service agreement with Beijing Puqi Pharmaceutical Technology Co., Ltd. regarding pumecitinib gel. Under the agreement, Simcere Pharmaceutical will obtain the exclusive promotional rights for all dermatological indications of the innovative autoimmune drug pumecitinib gel in mainland China, Hong Kong, and Macao.

Significance: Currently, the New Drug Application (NDA) for pimecrolimus gel for the indication of atopic dermatitis in adults and adolescents has been accepted by the Center for Drug Evaluation (CDE) of the National Medical Products Administration. This collaboration will further strengthen Simcere Pharmaceutical’s product portfolio in the field of autoimmune diseases.

Everest Medicines -- Reaches Licensing Collaboration with Travere Therapeutics Worth Over $1.1 Billion

Update: On June 2, Everest Medicines announced that it had entered into an exclusive license and collaboration agreement with Travere Therapeutics, granting the latter exclusive rights to develop and commercialize EVER001 (civorebrutinib) in territories excluding Greater China and certain Southeast Asian countries.

Significance: Everest Medicines will receive an upfront payment of $112.5 million and will be eligible to receive up to $1.03 billion in development, regulatory, and commercialization milestone payments across up to five indications. In addition, it will receive tiered royalties ranging from high single-digit to double-digit percentages based on future annual net sales of EVER001. EVER001 has the potential to become a multi-indication product for various immune-mediated kidney diseases.

Fosun Pharma -- Deepening Strategic Cooperation with China Pharmaceutical University

Updates: Recently, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. and China Pharmaceutical University held a report on the progress of their strategic cooperation and a signing ceremony for key projects in Nanjing. The two parties reached multiple agreements in key areas such as the integration of medical practice and education, early-stage R&D of innovative drugs, pharmaceutical policy research, and talent development.

Significance: This marks a new stage in university-enterprise cooperation, transitioning from strategic frameworks to project-based, substantive, and long-term in-depth collaboration, providing a model for collaborative innovation in industry, academia, and research within China's biopharmaceutical sector.

Global Regulatory Updates on Innovative Drugs

(Approved for Market Launch/IND/Special Review)

China NMPA Regulatory Updates (Marketing Authorization Acceptance and Policies)

SYS6063 Injection

Company: CSPC

Date: June 2, 2026

Details: SYS6063, the first mRNA-LNP-based dual-target chimeric antigen receptor (CAR)-T cell injection developed by CSPC, has been approved by the NMPA for clinical trials, with an indication for relapsed or refractory systemic lupus erythematosus. This marks a significant advancement in the innovative application of mRNA-LNP technology in the field of autoimmune diseases.

9MW5211

Company: Mabwell

Date: June 5, 2026

Details: 9MW5211, an innovative antibody drug independently developed by Mabwell Bioscience, has received approval from the National Medical Products Administration (NMPA) to conduct clinical trials for inflammatory bowel disease (IBD). 9MW5211 is the first candidate drug globally to enter the clinical stage for its target, filling a gap in clinical development in this field.

Pimecrolimus Gel

Company: Puqi Pharmaceutical

Date: June 1, 2026

Details: The New Drug Application (NDA) for pimecrolimus gel for the indication of atopic dermatitis in adults and adolescents has been accepted by the Center for Drug Evaluation (CDE) of the National Medical Products Administration. Simcere Pharmaceutical has currently obtained the exclusive promotion rights for all dermatological indications of this drug in mainland China, Hong Kong, and Macau.

U.S. FDA Regulatory Updates (Special Designations and Designation Status)

Ciprofol Injection

Company: Haisco

Date: June 1, 2026

Details: Haisco's independently developed ciprofol injection has been approved by the FDA for marketing, indicated for induction of general anesthesia in adults. This is the first independently innovated intravenous anesthetic drug from China to receive FDA approval, marking international recognition by authoritative regulatory bodies of China's innovative achievements in anesthetic drugs.