BeiGene Inks Pan-RAS Inhibitor Deal in Asia; Gan & Lee's GLP-1 Biweekly Formulation Secures Over €720 Million Out-Licensing Agreement

Aug 21, 2026 13:41 CST Updated 13:41

BeOne

Developer of Molecular Targeted and Immune Anti-Tumor Drugs

Gan&Lee Pharmaceuticals

Biological Synthetic Human Insulin Pharmaceutical R&D Manufacturer

Hopstem Biotechnology

iPSC Cell Therapy Product Developer

PHIL RIVERS

Medical Information Technology Service Provider

PTC

Lifecycle Management Software Solutions and Services Provider

Menarini

Pharmaceutical R&D Developer

Keymed Biosciences

Innovative Biopharmaceutical Developer

Global Biopharmaceutical Industry Trends

Capital Markets

Intensive Closure of Financing, Investment, and M&A Deals: This week saw six significant financing rounds. Hopstem Biotechnology completed the first closing of its nearly RMB 200 million Series C financing, accelerating the development of its iPSC-derived neural cell therapy products. PHIL RIVERS secured nearly RMB 200 million in Series A2 financing, led by Sansure Biotech alongside an industrial fund. Epicrispr achieved an oversubscribed Series C financing round totaling USD 90 million. Xunming Life Sciences completed a USD 100 million Series B financing, bringing its cumulative funding to nearly USD 200 million. Boulevard Bio obtained USD 65 million in initial financing from Deerfield. Hongxin Biotechnology completed a Series B financing round worth hundreds of millions of RMB, led by CICC Capital. In terms of mergers, acquisitions, and licensing, Jazz Pharmaceuticals acquired Actio Biosciences for USD 1.32 billion. PTC won the bid to acquire ST-920, a gene therapy for Fabry disease, for USD 211 million in Sangamo’s bankruptcy auction. Arrowhead Pharmaceuticals spent USD 215 million to acquire an FDA Priority Review Voucher for rare pediatric diseases, setting a new record for pharmaceutical M&A this year. Gan&Lee Pharmaceuticals licensed its biweekly GLP-1 formulation to Menarini for a total value exceeding EUR 720 million. RVMD partnered with BeOne on the Asian rights for a RAS(ON) inhibitor. Jingdan Biotech entered into a collaboration with Almirall with a total potential value of up to EUR 254.5 million. 3SBio acquired the rights for two indications of Hybio Pharmaceutical’s semaglutide for RMB 450 million.

Clinical Progress

Breakthroughs Across Autoimmunity, Oncology, and Metabolism: Keymed Biosciences’ CM512 Shows Promising Phase II Results in Chronic Rhinosinusitis with Nasal Polyps, Rapidly Reducing Polyp Size and Significantly Improving Nasal Congestion by Week 4; MoonLake’s Solrikimab Meets Primary Endpoint in Phase III Trial for Psoriatic Arthritis, Achieving an ACR50 Response Rate of 42.1%; Silence Therapeutics’ Divesiran Demonstrates an Overall Response Rate of 88% in Polycythemia Vera, Significantly Superior to the 19% Observed in the Placebo Group; Taiho Oncology’s Zipalertinib Meets Primary Endpoint in Interim Analysis of Phase III Trial for NSCLC with EGFR Exon 20 Insertion Mutations, Showing Statistically Significant Improvement in PFS. In Clinical Initiation News: Hansoh Pharma Launches First Phase III Trial for Its Fourth-Generation EGFR-TKI HS-10504; CRISPR Therapeutics Initiates First-in-Human Trial for Hypertension Gene Editing Therapy CTX340; Pfizer Begins First Phase III Trial of Tilrekimig for Atopic Dermatitis; GSK Registers Phase III MASH Study for Efimosfermin Alfa in China.

Regarding Industry Strategic Adjustments

Going Global and Globalization Remain the Main Theme: Gan&Lee Pharmaceuticals, Allist, and Jingdan Biology have continuously secured overseas rights collaborations, deepening the global layout of Chinese innovative drug assets. The NewCo model continues to gain momentum, with BiotoLife reaching a tens-of-millions-of-dollars NewCo deal with Biogend and securing a high double-digit equity stake. Steboronine®, the world’s first boron-based drug, has signed a master cooperation agreement to officially enter the Chinese market, kickstarting the commercialization of boron neutron capture therapy drugs in China. The value of AI-driven drug discovery platforms continues to be realized, with AI companies such as Xunming Life Sciences, BiotoLife, and PHIL RIVERS frequently attracting capital and industry interest.

Global Biopharmaceutical Industry

# Significant Events

Global Innovative Drugs

# Important Clinical Outcomes/Progress

Global Innovative Drugs

# Key Investment, Financing, and Transaction Events

Weekly Summary

From August 10 to August 16, 2026, the global biopharmaceutical investment, financing, and trading markets remained active. In terms of financing, six significant funding events occurred this week: Hopstem Biotechnology completed the first closing of its nearly RMB 200 million Series C financing; PHIL RIVERS secured nearly RMB 200 million in Series A2 financing; Epicrispr completed a USD 90 million Series C round; Xunming Life Sciences closed a USD 100 million Series B financing; Boulevard Bio obtained USD 65 million in its initial financing round; and Hongxin Biotechnology completed a Series B financing worth hundreds of millions of RMB. These deals covered frontier fields such as neuronal cell therapy, AI-driven drug discovery, epigenetic medicines, and in vivo CAR-T therapies.Regarding transactions, 14 business development (BD) deals were finalized this week: Jazz Pharmaceuticals acquired Actio for USD 1.32 billion; PTC acquired Sangamo’s Fabry disease gene therapy for USD 211 million; and Arrowhead Pharmaceuticals acquired an FDA Priority Review Voucher for USD 215 million, setting a new record for pharmaceutical M&A this year. Gan&Lee Pharmaceuticals licensed its GLP-1 biweekly formulation to Menarini for overseas commercialization in a deal valued at over EUR 720 million; ThreeSBio acquired the rights to two indications of Hybio Pharmaceutical’s semaglutide for RMB 450 million. A series of innovative collaborations were also densely implemented, including partnerships between RVMD and BeOne, Jingdan Biology and Almirall, Yifang Biopharma and Merck & Co., Allist and ArriVent, as well as BioMap and Biogend. Furthermore, the main cooperation agreement for Steboronine®, the world’s first boron-based drug, was signed to officially enter the Chinese market, highlighting the continued attractiveness of China’s innovative drug assets in the global market.

Investment and Financing

Hopstem Biotechnology — First Close of Nearly RMB 200 Million in Series C Financing

News: On August 10, Hopstem Biotechnology announced the completion of the first closing of its Series C financing round, raising nearly RMB 200 million. The round was participated in by new investors Tasly Capital, Haibang Investment, and Guangzhou Health Industry Investment, as well as existing investor Longmen Capital.

Significance: The funding will accelerate the development of core iPSC-based neural cell therapy products. With deep expertise in neurodegenerative diseases, the company is a leading player in China’s iPSC cell therapy sector. The participation of industrial capital in this round is expected to expedite the clinical translation of its pipeline.

PHIL RIVERS — Nearly 200 Million Yuan in Series A2 Financing

News: Recently, AI4S innovator PHIL RIVERS TECHNOLOGY announced it had secured nearly RMB 200 million in Series A2 financing. The round was led by Sansure Biotech and its industrial fund, with existing shareholder CAS Star continuing to participate, and Zhangjiang Sci-Tech Investment joining as a co-investor.

Significance: The funds will be utilized for the continuous generation of high-value innovative intellectual property (IP) and global asset allocation, to refine the foundational model matrix comprising knowledge models, genomic models, signaling pathway models, virtual cell models, and lesion world models. This initiative aims to advance the development of AI agents and experimental validation systems, thereby accelerating the industrial translation of original targets and innovative drug pipelines.

Epicrispr — $90 Million Series C Financing

Update: On August 11, Epicrispr Biotechnologies, a developer of programmable epigenetic therapies, announced the completion of an oversubscribed $90 million Series C financing round co-led by Octagon Capital and Janus Henderson Investors, with participation from Fidelity, Sanofi Ventures, Angelini Ventures, and others.

Significance: The company was founded by Professor Lei Qi, a leading figure in the CRISPR field and co-inventor of the UC CRISPR patents, who pioneered the core technologies of CRISPRa and CRISPRi. This round of funding will advance the clinical development of programmable epigenetic medicines. The company had previously completed a $55 million Series A financing and a $68 million Series B financing.

Xunming Life Sciences — $100 Million Series B Financing

Update: On August 11, Aureka Biotechnologies announced the completion of a $100 million Series B financing round. The initial tranche was exclusively invested by Granite Asia, while subsequent tranches were led by prominent industrial investors, with Honghui Capital as a co-investor. Existing shareholders, including Qiming Venture Partners, Matrix Partners China, and Newland Capital, continued their investment. To date, the company has raised nearly $200 million in cumulative funding.

Significance: Funds will be primarily invested in the research and development and large-scale training of next-generation biological foundation models to enhance capabilities in de novo molecular design, biomolecular structure modeling, and functional prediction. Meanwhile, the Lab-in-the-Loop system, with experimentation as its core feedback mechanism, will be upgraded to foster a deep closed-loop integration between foundation models and single-cell functional screening coupled with high-throughput experimental validation.

Boulevard Bio — $65 Million Series A Financing

News: On August 12, Boulevard Bio announced the completion of a $65 million financing round provided by its founding investor, Deerfield Management. The company was co-founded by Dr. Georg Schett, a pioneer in B-cell biology, and Dr. Frank Nestle, a partner at Deerfield and CEO of 3DC.

Significance: The company’s core pipeline stems from the technical collaboration between Jitai Technology and 3DC. Leveraging a profound understanding of B-cell disease biology, the company employs engineered multi-specific antibodies to intervene in key pathological drivers, with a commitment to optimizing three drug candidates to improve the quality of life for patients with chronic diseases.

Hongxin Biologics — Series B Financing of Hundreds of Millions of Yuan

Update: Shenzhen MagicRNA (MagicRNA) recently announced the completion of its Series B financing round, led by a fund under CICC Capital and co-led by Kangjun Capital. Investors including China Development Bank Innovation, BOC Asset Management, and Suzhou High-Tech Financial Holdings participated in the round, while existing shareholders such as Matrix Partners China, IDG Capital, and Sino Biopharmaceutical increased their stakes. The total amount raised was several hundred million RMB.

Significance: The company has overcome the industry-wide challenge of extrahepatic, non-APC-targeted delivery of mRNA and possesses a proprietary engineered cell-targeted delivery platform. Its in vivo CAR-T pipeline candidate, HN2301, completed the world’s first human administration of cell-targeted LNPs in Q1 2025. This round of financing will accelerate the development of innovative immunotherapies such as in vivo CAR-T.

Transaction Authorization

Innovent Biologics and Daiichi Sankyo Reach Promotion Agreement

Update: On August 10, Innovent Biologics and Daiichi Sankyo jointly announced that they had reached an exclusive promotion agreement for the commercialization of Vevray® (quizartinib hydrochloride tablets) in the mainland China market.

Significance: Under the agreement, Daiichi Sankyo is responsible for clinical development, manufacturing, and supply, while Innovent Biologics obtains exclusive promotion rights in China and leads market promotion efforts, further expanding Innovent’s commercial product portfolio in the oncology field and deepening its collaboration network with multinational pharmaceutical companies.

Jingdan Bio and Almirall Reach Collaboration and Licensing Agreement

Update: On August 10, Jingdan Bio announced that it had officially signed a collaboration and licensing agreement with Almirall, a global leader in dermatological biopharmaceuticals, to jointly develop an innovative candidate drug for skin diseases. Almirall will make upfront and milestone payments to Jingdan Bio, with the total amount reaching up to approximately €254.5 million.

Significance: Leveraging its AI and structural biology-based drug discovery platform, Jingdan Bio is responsible for the discovery, optimization, and early clinical development of candidate compounds, advancing them to proof-of-concept (POC). Almirall has secured exclusive global rights outside mainland China. Upon the project reaching POC, Jingdan Bio will obtain exclusive development and commercialization rights in mainland China. This deal represents another benchmark case for the overseas monetization of Chinese AI-driven drug discovery platforms.

Jazz Pharmaceuticals — $1.32 Billion Acquisition of Actio Biosciences

News: On August 10, Jazz Pharmaceuticals announced the acquisition of Actio Biosciences for an upfront payment of $820 million and contingent consideration of up to $500 million. Actio completed a $55 million Series A financing round in 2023 and a $66 million Series B financing round in 2025, bringing its total funding to $121 million.

Significance: Jazz also stated in its latest quarterly report that its full-year revenue guidance will reach $4.6 billion to $4.75 billion. Last year, Jazz acquired Chimerix for $935 million to obtain dordaviprone, a new drug for rare glioma. This acquisition continues its strategy of expanding its pipeline in the fields of rare diseases and oncology.

RVMD Partners with BeOne — Collaboration on Asian Rights for Pan-RAS Inhibitor

Update: On August 10, BeOne and Revolution Medicines jointly announced a multi-faceted collaboration agreement, including clinical cooperation and regional licensing. BeOne secured exclusive rights to develop and commercialize four clinical-stage RAS(ON) inhibitors from RVMD (daraxonrasib, zoldonrasib, elironrasib, and RMC-5127) in select Asian markets.

Significance: The clinical collaboration will evaluate combination therapies involving BeOne’s MTA-cooperative PRMT5 inhibitor BGB-58067, the EGFR×MET×MET trispecific antibody BG-T187, and other agents with RAS(ON) inhibitors. RVMD will be eligible to receive development and sales milestone payments as well as tiered royalties, and will retain rights in regions including Japan and South Korea.

Gan&Lee Pharmaceuticals' GLP-1 Biweekly Formulation Achieves Overseas Licensing

Update: On August 10, Gan&Lee Pharmaceuticals announced an exclusive licensing agreement with Menarini International, granting the latter the rights for marketing authorization and commercialization of GZR18 (a biweekly GLP-1 formulation) for the indication of overweight or obesity within the licensed territories, with a total transaction value exceeding €720 million.

Significance: Bofanglulotide is a GLP-1 receptor agonist (GLP-1RA) independently developed by Gan&Lee Pharmaceuticals, administered once every two weeks. It works by activating GLP-1 receptors in the gastrointestinal tract and hypothalamus, thereby slowing gastric emptying and enhancing satiety. This licensing deal represents another major milestone for Chinese GLP-1 therapies going global, marking international recognition of China’s R&D capabilities in metabolic disease treatments.

Kelun Biotech and Xinfeng Medical Reach Strategic Cooperation

Updates: During the 2026 Global Healthcare Summit (August 7–8, Hong Kong Convention and Exhibition Centre), Kelun Biotech and New Frontier Medical Technology, a subsidiary of New Frontier Group, held a signing ceremony for a strategic cooperation framework agreement on the commercialization of sacituzumab tirumotecan (sac-TMT/SKB264, Jia Tai Lai®) in Hong Kong and Macau, China.

Significance: Accelerate the commercialization of Sacituzumab Govitecan, a benchmark domestic ADC product, in the Hong Kong and Macao regions, and leverage New Wind Healthcare’s channel advantages in the high-end medical network across Greater China to expand the product’s overseas market layout.

Yifang Biopharma and Merck & Co. Announce Collaboration

Updates: On August 10, Innovent Biologics announced a collaboration with MSD China to jointly advance the clinical development of small-molecule drugs in the field of oncology. The announcement did not disclose specific candidate drugs.

Significance: Yifang Biopharma’s oncology pipeline includes the third-generation EGFR TKI befotertinib (approved), the KRAS G12C inhibitor garsorasib (conditionally approved), the oral SERD tairuisiqun (Phase III), the WRN inhibitor YF087, and the KIF18A inhibitor YF550. This collaboration with Merck & Co. is expected to accelerate the realization of value from its early-stage pipeline.

Reindeer Biologics Acquires Singapore’s MediSix Therapeutics

Update: On August 13, Xunlu Bio announced the completion of its acquisition of MediSix Therapeutics, a Singapore-based company specializing in immune cell engineering and cell therapy.

Significance: MediSix’s proprietary PEBL platform can effectively reduce fratricide among CAR-T cells by specifically blocking the expression of target proteins on the cell surface, thereby addressing a key challenge in the treatment of T-cell malignancies. Its core project, IASO107, is undergoing clinical evaluation in collaboration with internationally renowned research hospitals. The acquisition will enhance Legend Biotech’s global R&D and operational system, accelerating the internationalization of its cell therapy products.

Steboronine: The World's First Boron Drug^®Entry into China

Update: On August 12, China Biotech Services Holdings announced that its wholly-owned subsidiary, Pengbo (Hainan) Boron Neutron Therapy, has signed a legally binding master cooperation agreement with Japan’s StellaPharma to jointly advance the global development of Steboronine, the world’s first approved boron neutron capture therapy drug.^®Development and Commercialization in China.

Significance: The development phase aims to obtain NMPA marketing approval, with the initial indications being head and neck cancer, followed by expansion to meningioma. Upon approval, Pengbo Hainan will automatically become the exclusive domestic distributor, and China Biotech Services will become the exclusive general import agent. The initial term of the exclusive distribution rights is ten years, with automatic renewal.

BioMap and Biogend Reach NewCo Transaction

Update: BioMap announced a technology collaboration deal with Biogend Therapeutics, an AI-driven innovative biologic therapy company incubated by Legend Capital and followed up by Temasek Life Sciences Accelerator, structured as a NewCo.

Significance: Biogend will receive cash proceeds of up to tens of millions of dollars based on project collaboration and secure a high double-digit equity stake in the NewCo. Distinct from the single-asset licensing model, Biogend will license Biogend’s AI-driven discovery system to continuously develop innovative bispecific and multispecific antibody pipelines in the field of autoimmune diseases at scale, thereby upgrading from single-point development to systematic pipeline incubation.

3SBio Acquires Hybio Pharmaceutical’s GLP-1 Dual Indications for RMB 450 Million

Update: On August 12, Hybio Pharmaceutical announced that it had signed the “Cooperation Agreement on Glycemic Control with Semaglutide Injection in Adult Patients with Type 2 Diabetes” and the “Entrusted Production and Supply Agreement” with Shengsheng Mandi, a subsidiary of CSPC Pharmaceutical Group. The two parties have reached a cooperation agreement on the development, registration, production, and commercialization of semaglutide injection in China.

Significance: Hybio Pharmaceutical has completed the Phase III clinical trials in mainland China for this product’s indication in glycemic control. 3SBio Mandi will serve as the Marketing Authorization Holder (MAH) for the collaborative product in the China region and will be exclusively responsible for its commercialization, with a transaction value of RMB 450 million, further deepening 3SBio’s market layout in the GLP-1 metabolic sector.

Arrowhead — $215 Million Acquisition of a PRV

Update: Recently, Arrowhead Pharmaceuticals announced that it had signed an agreement with an undisclosed third party to acquire a U.S. FDA Priority Review Voucher (PRV) for rare pediatric diseases for $215 million.

Significance: This transaction amount sets a new record for the highest pharmaceutical M&A deal this year. The PRV can shorten the FDA review cycle from the standard 10 months to 6 months, accelerating the review and market launch of Arrowhead’s core siRNA pipeline.

Allist Pharmaceuticals Introduces World’s First-in-Class Bispecific Antibody ADC

Update: On August 13, Allist Pharmaceuticals announced the signing of a strategic cooperation agreement with ArriVent BioPharma, securing an exclusive license for the research, development, manufacturing, registration, and commercialization of AST12608/ARR-002 in China (including Hong Kong, Macao, and Taiwan).

Significance: AST12608 is a potential first-in-class, MUC16/NaPi2b dual-targeted tetravalent antibody-drug conjugate (ADC), with initial development focused on ovarian cancer and endometrial cancer. In 2021, Allist granted ArriVent the overseas rights to furmonertinib, marking one of the most successful NewCo practices in China. This collaboration further deepens the strategic mutual trust between the two parties.

PTC — Acquires Sangamo’s Gene Therapy ST-920 for $211 Million

Update: On August 12, PTC Therapeutics announced that it was selected as the winning bidder in a competitive bankruptcy auction to acquire ST-920 from Sangamo Therapeutics. ST-920 is a BLA-stage, one-time AAV gene therapy for Fabry disease. The terms include an upfront payment of $111 million and regulatory milestone payments of up to $100 million.

Significance: The rolling Biologics License Application (BLA) submission to the FDA is expected to be completed in the fourth quarter of 2026. The BLA is based on favorable 52-week data from the Phase 1/2 STAAR study regarding renal function, safety, and tolerability. Sangamo has previously entered into asset sale agreements with Eli Lilly and Astellas and has initiated Chapter 11 restructuring.

Global Regulatory Updates on Innovative Drugs

(Approved for Marketing/IND/Special Review)

China NMPA Regulatory Updates (IND Approvals and Clinical Registrations)

AK0406 Injection (Class 1 New Drug)

Company: Akero Biopharma

Date: August 13, 2026

Details: The NMPA has approved the clinical trial of AK0406 injection, a Class 1 new drug developed independently, intended for influenza prevention, adding significant momentum to the research and development of innovative drugs in China’s influenza prevention sector.

SYS6063 (LNP-delivered drug)

Company: CSPC Group

Date: August 11, 2026

Details: The Phase I clinical trial of SYS6063 for the treatment of relapsed/refractory systemic lupus erythematosus (SLE) has officially commenced at the first site in China, marking it as the first lipid nanoparticle (LNP)-delivered therapy approved for SLE clinical trials globally.

Efimosfermin Alfa (FGF21 Analog)

Company: GSK

Date: August 14, 2026

Details: A Phase III clinical trial has been registered on the Chinese Drug Clinical Trial Registration and Information Publicity Platform, marking China’s official participation in this global study on metabolic dysfunction-associated steatohepatitis (MASH).

Global Regulatory and Clinical Registration Updates

HS-10504 (Fourth-Generation EGFR-TKI)

Company: Hansoh Pharmaceutical

Date: August 10, 2026

Details: According to the U.S. clinical trials registry, HS-10504 has initiated its first Phase III clinical trial for non-small cell lung cancer (NSCLC) with C797S mutation, positioning it as one of the fastest-developing fourth-generation EGFR-TKIs globally.

CTX340 (Gene Editing Therapy)

Company: CRISPR Therapeutics

Date: August 11, 2026

Details: The first-in-human clinical trial has been initiated as a multicenter, dose-escalation Phase I/II study to evaluate its safety and efficacy in patients with hypertension, marking the first entry of gene-editing therapy into the cardiovascular and metabolic disease field.

ST-920 (AAV Gene Therapy for Fabry Disease)

Company: PTC Therapeutics

Date: August 12, 2026

Details: Following Sangamo's acquisition of ST-920, PTC anticipates completing the submission of a rolling Biologics License Application (BLA) to the U.S. FDA in the fourth quarter of 2026, aiming to accelerate the approval process for this one-time gene therapy.