Week in Review: Innocare Strikes $937 Million Deal with Biogen for BTK Inhibitor

Deals and Financings Beijing InnoCare out-licensed ex-China rights for its BTK inhibitor to Biogen in a $937 million deal that including a $125 million upfront payment; Suzhou Innovent Bio announced a $245 million collaboration with  Shanghai 's Ascentage for joint China commercialization of Ascentage's BCR-ABL TKI in  leukemia patients; Adlai Nortye Biopharma, a Hangzhou oncology immunotherapy company, completed a $100 million Series D round after raising  $100 million one year ago; Jiangsu Hailai Xinchuang Medical closed a $77 million Series C funding to advance its Tumor Treating Fields electrical pulse technology for cancer; ProfoundBio, a Suzhou-Seattle oncology newco, completed a $55+ million Series A financing from  China  investors for ADC and immunoncology candidates; PAQ Therapeutics of Boston raised $30 million in a Series A round from China investors for autophagy-dependent degradation of disease-causing substances; Grit Biotechnology, a two-year-old  Shanghai  cell therapy company, completed a Series A+ round to develop its Tumor Infiltrating Lymphocytes therapies; Shanghai 's Ji Xing Pharma announced a B funding round from  New York City 's RTW Investments for a hypertrophic cardiomyopathy treatment;   Trials and Approvals Suzhou 's Kintor Pharma will start a US Phase II trial of its treatment for male pattern baldness; Ascletis Pharma of  Hangzhou  began a  China  bridging trial of its FXR agonist for chronic hepatitis B; Suzhou Innovent announced the first patient has been dosed in a China Phase I study of an anti-LAG-3/PD-L1 bispecific antibody for solid tumors.  Stock Symbols: (HK: 09969) (NSDQ: BIIB) (HK: 01801) (HK: 6855) (HK:9939) (HK: 1672) Share this with colleagues: // //