PharmaFocus Today – Page 8 – media

AI+macrocyclic drug development | Circle Pharma completes $90 million Series D financing

On September 3, 2024, Circle Pharma, a biopharmaceutical company dedicated to discovering and developing cell permeable macrocycles as a clinical stage of a new therapy, announced the successful completion of $90 million in Series D funding, including the conversion of a convertible note.This round of financing is led by The Column Group, with new and old investors including Nextech Invest and Euclidean Capital participating. The funds raised from the financing will be used for the clinical development of Circle Pharma’s first and only similar cyclin A/B RxL inhibitor CID-078, and to support the development of the discovery project portfolio established by the company using its MXMO macrocycle platform. David Earp, CEO and Juris Doctor of Circle Pharma, said, “We are very grateful for the continued support of such a strong investor as we advance our pioneering work on macrocyclic therapy. This financing not only allows us to advance the clinical ...
- Source: drugdu
- 81
- October 28, 2024
Lixin Pharmaceuticals Completes RMB 300 Million C1 Round of Financing

Recently, Lixin Pharmaceutical Technology (Shanghai) Co., Ltd. (hereinafter referred to as “Lixin Pharmaceutical”) announced that it has successfully completed a C1 round of financing of RMB 300 million. This round of financing was led by China Biopharmaceutical, a well-known domestic industry party, and co-invested by Pudong Venture Capital and Zhang Jianghaoheng. Old shareholders Qiming Venture Partners and Shanghai Biomedicine Fund followed suit. Zhong Lun served as the legal advisor for this round of financing. Lixin Pharmaceuticals also mentioned that it has recently launched the C2 round of financing. The funds raised will be mainly used to accelerate the clinical progress of clinical pipelines, especially LM-302 and LM-108, and support the independently developed antibody discovery platform, next-generation ADC technology platform, and bispecific antibody technology platform, and continue to produce innovative pipelines with international competitiveness. About Lixin Pharmaceuticals Lixin Pharmaceuticals is a biopharmaceutical company based in China and facing the world. It ...
- Source: drugdu
- 67
- October 28, 2024
Hengrui Medicine Reports Revenue and Net Profit Growth in Q3

On the evening of October 24, Hengrui Medicine announced its Q3 performance report for 2024, showcasing steady growth in performance. For the first three quarters of 2024, Hengrui reported an operating revenue of 20.189 billion yuan, marking an increase of 18.67% year-on-year. The net profit attributable to shareholders reached 4.620 billion yuan, an increase of 32.98%, while the net profit after deducting non-recurring gains and losses was 4.616 billion yuan, reflecting a 37.38% increase, demonstrating robust development momentum. According to the report, Hengrui’s R&D expenditures reached 4.549 billion yuan in the first three quarters of 2024, marking a significant increase of 22% year-on-year. This ongoing high-intensity investment in R&D is providing strong momentum for the transformation of the company’s innovative achievements. As a result of these sustained investments, Hengrui is seeing a continual emergence of innovative outcomes. During the reporting period, Hengrui launched its self-developed Class 1 new drug, Fuhuanqi ...
- Source: drugdu
- 71
- October 28, 2024
Innovax Biological Reports 94% Decline in Q3 Net Profit Amid Continued Impact of Expanded Age Range for Nine-Valent HPV Vaccine

Innovax Biological announced that its operating revenue for the first three quarters reached 1.948 billion yuan, a year-on-year decline of 60.79%. The net profit attributable to shareholders of the listed company for the same period was 267 million yuan, down 85.25% compared to last year. In the third quarter alone, the company generated revenue of 582 million yuan, down 27.72%, and reported a net profit of 6.1686 million yuan, a staggering decline of 94.18%. The company attributed the decline in performance to several market adjustments during the reporting period, including government-led centralized procurement and the extended age range for the nine-valent HPV vaccine, which have collectively led to reduced sales revenue and profits compared to the same period last year. At the market opening today, Innovax Biological’s stock price fell over 2%. In August 2022, Merck China announced an expansion of the target age group for its nine-valent HPV vaccine ...
- Source: drugdu
- 50
- October 28, 2024
Boyaa Bio Reported Revenue of 1.245 Billion Yuan and Net Profit of 413 Million Yuan in the First Three Quarters

On the evening of October 24, Boyaa Bio disclosed its Q3 2024 report, revealing that the company achieved a revenue of 1.245 billion yuan and a net profit of 413 million yuan in the first three quarters, both of which marked a decline compared to the same period last year. The company attributed this decrease primarily to its strategic decision to focus on the blood products industry, resulting in the divestment of its two major sectors, Fuda Pharmaceutical and Tianan Pharmaceutical, in the second half of 2023. During the reporting period, the company actively promoted the construction project of its smart factory for blood products (Phase 1). Currently, the main structural works, including the manufacturing center, innovation incubation center, and packaging and warehousing center, have been capped, indicating that the project has entered a new phase. According to previous plans, the factory is expected to be fully capped by the ...
- Source: drugdu
- 46
- October 28, 2024
1.774 billion, Mindray has big moves

Recently, the “Maidong Technology Park”, which is the global headquarters base of Mindray Animal Medical, officially started construction in Longhua, Shenzhen. It is reported that the land for the Maidong Technology Park project will be sold in September 2023, covering an area of 58600 square meters and a building area of 176000 square meters. The total planned investment is 1.774 billion yuan. After completion, it will create an intelligent manufacturing “black light” factory with high-precision automation equipment covering the entire area. Through automatic and intelligent on-site logistics scheduling, efficient, high-quality, and low-cost manufacturing will be achieved. 01. Expected annual output value exceeds 12 billion In recent years, Mindray Medical has begun to focus on four emerging businesses, namely animal medicine, minimally invasive surgery, orthopedics, and AED, on the basis of its traditional three core businesses. In 2022, Li Xiting, Chairman of Mindray Medical, made a statement Animal medicine is a ...
- Source: drugdu
- 52
- October 26, 2024
SenseTime may initiate large-scale layoffs

On October 22nd, Xu Li, Chairman and CEO of SenseTime Technology, sent a letter to all employees, establishing the three in one strategy of “large equipment large model application”, which was mentioned for the first time. After the release of the full staff letter by SenseTime Technology, organizational adjustments and layoffs were immediately initiated, with a focus on retaining the two businesses related to the RiRiXin large model and large equipment. The remaining business lines, including security, autonomous driving, medical, etc., began to be adjusted, and the compensation given was N+1. On October 23rd, in response to the online rumors of layoffs, SenseTime Technology stated that it is actively promoting strategic transformation, focusing on key business and strategic growth areas of “large equipment large model application”, and optimizing and adjusting its organizational and talent structure to better meet business development needs. At present, SenseTime’s social recruitment and campus recruitment are ...
- Source: drugdu
- 59
- October 26, 2024
GLP-1 counterfeit drugs rampant, Lilly will file another lawsuit

Eli Lilly has taken further legal action against the continuous emergence of counterfeit products of Tilpotide. Recently, Eli Lilly has filed a lawsuit against three suppliers of counterfeit tiltrotide products that have not been approved by the FDA. The company is seeking a court order to stop the sale of these counterfeit tiltrotide products and demand economic compensation from these suppliers. The rampant use of counterfeit drugs The soaring demand for GLP-1 has not only made Novo Nordisk and Eli Lilly one of the most valuable companies in Europe, but also led to long-term supply shortages around the world. In order to get a share of the pie, some illegal merchants have engaged in rampant counterfeiting and forgery of the products of the two companies. These unregulated counterfeit drugs pose significant risks to the health of patients and may even endanger their lives. In December last year, the FDA issued ...
- Source: drugdu
- 52
- October 26, 2024
Eight commonly used immune cell therapies open up a new era of healthcare

Introduction: The era of chemotherapy cannot solve the “pain points” of relapsed and refractory diffuse large B-cell lymphoma, but the era of new cell drugs has solved them. And this new cellular drug, CAR-T cell therapy, which has become a hot topic in recent years, has opened up a new era of medical treatment, with a market size of trillions of dollars. Immune cell therapy aims to enhance the immune system’s ability to fight cancer. Manufacturing cell therapy requires collecting a specific set of cells from the blood, modifying them to produce more powerful attacks on the patient’s cancer cells, and then re injecting them into the patient’s body. At present, many types of cancer cell therapies are being explored, including CAR-T cells, other genetically modified T cells, tumor infiltrating lymphocytes (TIL), NK cells, CIK cells, B cells, etc. Extracting immune cells from patients’ bodies and modifying them to make ...
- Source: drugdu
- 56
- October 26, 2024
Heyuan Biotechnology Reports 34.22% Revenue Growth in the First Three Quarters; Performance Outlook Remains Positive

On the evening of October 23, Heyuan Biotechnology released its third-quarter report for 2024. In the third quarter, the company achieved a revenue of 70.81 million yuan, a year-on-year increase of 32.99%, but realized a net profit attributable to shareholders of -76.42 million yuan. For the first three quarters of this year, the company recorded a total revenue of 184 million yuan, marking a year-on-year growth of 34.22%, with a net profit attributable to shareholders of -190 million yuan. Improved Industry Environment Provides Growth Opportunities According to public data, Heyuan Biotechnology’s main business includes providing Contract Research Organization (CRO) services such as the development of gene therapy vectors and gene function research for cellular and gene therapy foundational research. It also offers Contract Development and Manufacturing Organization (CDMO) services, including application for Investigational New Drug-Chemistry, Manufacturing, and Controls (IND-CMC) pharmaceutical research and GMP production of clinical samples for the development ...
- Source: drugdu
- 51
- October 26, 2024

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