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Week in Review: Shenzhen's MGI Tech Raises $1 Billion to Develop Gene Sequencing Machines

Deals and Financings • MGI Tech, a Shenzhen maker of gene-sequencing machines and subsidiary of gene services company BGI, completed a $1 billion Series B financing; • Suzhou Kintor Pharma staged a $240 million IPO in Hong Kong to develop its portfolio of drugs for androgen receptor-related diseases; • Burning Rock Biotech, a Guangzhou diagnostics company, filed for a $100 million US IPO to support its precision medicine and early cancer detection products; • Immunochina of Beijing formed an R&D collaboration with EdiGene, also based in Beijing, to develop an allogeneic CAR-T therapy for cancer; Coronavirus Pandemic • Shanghai Junshi Biosciences said its mAb targeting SARS-CoV-2 was able to neutralize the virus in preclinical tests; • Suzhou I-Mab will start the second part of its China Phase I trial of TJM2 in patients with cytokine release syndrome associated with COVID-19; Trials and Approvals • Mabspace Biosciences (Suzhou) reported positive results from a Phase I trial of its PDL1 antibody in patients with advanced solid tumors and hematological malignancies; • Suzhou CStone Pharma released updated efficacy data from a Phase I trial of its anti-PD-L1 mAb as a first-line treatment for non-small cell lung cancer; • Suzhou Innovent Bio dosed the first patient in a China Phase I trial of its TIGIT candidate, a mAb that binds the anti-T-cell immunoreceptor with Ig and ITIM domains. Stock Symbols: (HK: 1877) (NSDQ: IMAB) (HK: 2616) (HK: 1801) Share this with colleagues: // //
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