Cancer drugmaker LaNova to sell to China's Sino Biopharm
LaNova Medicines, a cancer drugmaker that previously licensed medicines to Merck & Co. and AstraZeneca, has agreed to be acquired by Sino BioPharmaceutical in a deal worth up to $950.9 million.
In an agreement disclosed Tuesday, Sino BioPharm will buy the approximately 95% of LaNova it doesn't already own. Accounting for LaNova's cash holdings, the net payment made by Sino Biopharm will total about $500 million.
Once the deal is complete, LaNova will become a wholly owned subsidiary of Sino Biopharm, which previously invested in LaNova's Series C1 financing that was announced last October.
LaNova was founded in Shanghai a little less than six years ago. In the time since, it has built a pipeline that includes eight clinical-stage compounds, including two licensed by AstraZeneca and Merck & Co. in 2023 and 2024 deals, respectively.
The company's emergence parallels the rapid gains made by China's biotech sector, which in the span of a decade has gone from a copycat factory to an innovative hub that regularly designs drugs attractive to multinational pharmaceutical firms in the U.S. and Europe.
AstraZeneca's deal involved an antibody-drug conjugate, or ADC, that LaNova designed to bind GPRC5D, a protein target rising on the radar screens of companies developing medicines for multiple myeloma. That pact handed LaNova $55 million upfront.
Then, last November, Merck bought rights to LaNova's LM-299, a bispecific antibody aimed at the cancer drug targets PD-1 and VEGF. This kind of antibody is newly of interest after the success of ivonescimab, a similarly structured drug that outperformed Merck's dominant immunotherapy in a head-to-head lung cancer study. Merck paid LaNova $588 million in upfront cash to license LM-299.
Beyond those two medicines, LaNova is also testing an antibody targeting the protein CCR8 for use in gastric cancer and other solid tumors, as well as an ADC aimed at Claudin 18.2. The latter drug is in Phase 3 trials in China, while the former is in Phase 2.
Recommended Reading
'The bar has risen': China's biotech gains push US companies to adapt
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Epoch Times
an hour ago
- Epoch Times
Nature's First Aid: How Herbs Speed Up Fracture Healing and Soothe Pain
While crossing the street in laced-up heels, Erica Kuo—a certified clinical aromatherapist and herbal aromatherapy educator—tripped when one of her laces came loose. Acting quickly, she reached into her bag and applied arnica cream, an herbal salve she always carries for emergencies. A hospital visit later confirmed a fractured toe, and a fixation device was used to stabilize it. During the three-month recovery period, Kuo relied on herbal teas, botanical oils, and creams, which she applied directly to the injury, to relieve swelling and pain while supporting her body's natural healing process. Natural remedies, Kuo noted in an episode on Health 1+1, can effectively aid recovery and provide relief, alleviating the need for conventional painkillers.
Business Insider
8 hours ago
- Business Insider
Gym bros are taking these 'natural' injections to build muscle
Hello! I'm Mia de Graaf. I run health coverage at Business Insider, and I'm stepping in for Joi-Marie this week while she's on vacation. Physically, I will be at home in New York City this summer. Mentally? Not so. This weekend, I am attempting to transport myself from my kitchen to Florence, Italy, with a zesty homemade agnolotti. Garlic, chiles, dill, and lime? Sign me up. On the agenda: Colonoscopies aren't fun. These new at-home colon cancer screenings offer a shortcut. Eight successful women in different industries told BI how they start their days. Here's one trick to escape huge crowds in Japan during peak season. Moms love this Yeti tote bag — and it's catching Wall Street's attention. But first: Let's check in on gym bros. If this was forwarded to you, sign up here. Download Business Insider's app here. This week's dispatch Hot peptide summer Earlier this week, I fell down a truly epic TikTok rabbit hole. It started with one video: a guy with cartoonish muscles bulging out of a tank top, sitting at his kitchen counter with six vials and a syringe. "It's time for me to get back in shape," he said. "So this is my new peptide stack." A whole hour later, I was deep in the bro wellness multiverse, where peptides rule. Peptides are short-chain amino acids, the building blocks of protein. In theory, you can use different peptides to stimulate different hormones for all kinds of results. You may have heard of peptide serums promising to boost collagen in your cheeks, or the weight-loss drug Ozempic, a peptide that suppresses hunger. Then, there are peptide shots that you can inject for muscle growth. The chiseled men on my phone screen told me that the idea is to "stack" various peptide shots because each one has slightly different effects. One may stimulate lean muscle, or melt fat for muscle definition, or heal your gym injuries, or slow aging. They rattled off laundry lists of technical names: BPC-157, CJC-1295, ipamorelin, follastatin 344, IGF-1… it goes on. There is a catch. As my colleague Hilary Brueck reports, the science behind muscle-building peptides is scant. Still, the trend is booming. Doctors say they are increasingly fielding questions from patients about which peptides they should use to retain muscle mass. The Vitamin Shoppe has seen a huge uptick in searches for peptides. Why? We're in our "natural gains" era. These days, quiet glow-ups are the hottest thing in cosmetic surgery. Similarly, drugs like steroids, which replace growth hormones, are seen as old-fashioned and toxic. Peptides stimulate your body's natural processes, so they're seen as more natural. This summer, beach bods are in — with a little help from a fridge full of syringes. Check your risk (at home) Colon cancer is the second-deadliest cancer in the US, in large part because people aren't getting their colon checked often enough. While colonoscopies are the most reliable tool, a new suite of at-home tests is rapidly expanding. One recently approved screening tool checks your blood for signs that something is awry. Another highly anticipated test, which isn't out yet, may require nothing more than your breath. Four colonoscopy alternatives. She wakes up like this There's no one-size-fits-all approach to optimizing your morning routine. However, there are a lot of options to try out and many recipes for success. BI spoke to eight successful women across different industries, from professional dancers to bankers and CEOs. Most said they wake up around 6 a.m., but their routines diverge from there. Some hit the gym, while others do affirmations. Also read: Seven men told us how they start their days. Fancy alarm clocks and morning runs are key to their success. Sakura season, without the crowds BI's Anneta Konstantinides visited Japan for its famed cherry blossom season in March, right as the country was experiencing record tourism. While the most popular attractions in Tokyo and Kyoto felt crowded, Konstantinides quickly figured out an easy, affordable, and crowd-free way to enjoy the sights in peak bloom. The secret was in Japan's gardens. The holy grail mom bag The Yeti Camino 35 Caryall Tote Bag has a chokehold on moms on TikTok. They tout it as the sleekest, most durable bag for carrying an array of items while also ferrying their children from place to place. It's even got Wall Street's attention. In a recent note, Jefferies analysts said the Camino 35's virality is boosting confidence in Yeti Holdings' stock. Check it out. What we're watching this weekend "Happy Gilmore 2": Nearly three decades after Adam Sandler's comedy about an unlikely golf hero hit theaters, the comedian's star-studded sequel is coming to Netflix. "The Phoenician Scheme": Wes Anderson's latest film, a surprisingly comedic crime caper starring Benicio del Toro, makes its streaming debut on Peacock. "Hitmakers": Netflix's new reality docuseries about the glamorously cutthroat world of professional songwriting is an entertaining peek behind the curtain at how some of your favorite pop songs get made. What to shop New Yorker must-haves: Discover editor Gabrielle Chase's guide to NYC essentials — packed with smart recommendations on what to pack, where to shop, and how to blend in like a local. One ring to track it all: We put the Oura Ring 4 to the test. It packs powerful health tracking into a sleek, screen-free design. It's discreet, durable, and lasts a week on a charge, but its high price keeps it in luxury territory. Small desk, big upgrade: This sit‑stand desk blends space‑saving design with effortless electric height adjustment — perfect for tight spaces. We tried it, and loved its customizable finishes, sleek design, and smart features. More of this week's top reads: The hidden dilemma of Ozempic: eating disorder recovery. Drew Brees says he's a "very common-sense dieter." Here are five simple wellness rules he lives by. Seven things you should never do when traveling by train, according to an etiquette coach. I've lived in the Hamptons for most of my life. Here are five mistakes I see visitors make every summer. The Coldplay "kiss cam" situation underlines a lesson I learned as a 15-year-old cheerleader. I went to a medical clinic in Portugal — thousands of miles from my NYC home. I saved $500 and found an answer for my back pain. I was born and raised in Italy. There are seven things I wish tourists would stop doing when they come here. The millennial case against having baby number three.
Yahoo
11 hours ago
- Yahoo
UBS Bullish on Merck (MRK) Following Verona Pharma Purchase
Merck & Co., Inc. (NYSE:MRK) ranks among the . On July 10, UBS reiterated its Buy rating and $105 price target for Merck & Co., Inc. (NYSE:MRK). Analyst Trung Huynh remained optimistic about the pharmaceutical giant after Merck confirmed that it would acquire London-based Verona Pharma for $10 billion. Pixabay/Public Domain According to consensus estimates of $3.7 billion, the acquisition represents about 2.7 times peak sales, which is consistent with industry norms, according to UBS. The firm believes that Ohtuvayre's launch should benefit from Merck's size and business acumen, much like recent deals like Acceleron. In a call, Merck & Co., Inc. (NYSE:MRK) stated it remains open to $1 billion to $15 billion in additional acquisitions, which UBS believes will be needed to counteract the 2028 Keytruda patent cliff. Merck & Co., Inc. (NYSE:MRK) is a well-known American multinational pharmaceutical firm. Internationally recognized as Merck Sharp & Dohme (MSD), the company is a global provider of prescription medications, vaccines, biologic therapies, and animal health products. While we acknowledge the potential of MRK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None. Sign in to access your portfolio
