Latest news with #Yantai
Reuters
4 days ago
- Business
- Reuters
Sinopec sets up $690 million hydrogen-energy-focused venture capital fund
May 29 (Reuters) - China's state oil and gas major Sinopec ( opens new tab, has established a venture capital fund focused on hydrogen energy, with an initial size of 5 billion yuan ($690 million), the company said in a statement on Thursday. The fund, the largest in China dedicated to investment across the hydrogen value chain, will target early-stage investments and incubation of key materials, core equipment and proprietary technologies with high growth potential. The fund is managed by Sinopec Private Equity Fund Management Co, a wholly owned subsidiary of Sinopec Capital Co. External partners include Shandong New Growth Drivers Fund Management Co and Yantai Guofeng Investment Holding Group Co. Sinopec has also taken equity stakes in 13 companies involved in the hydrogen energy industry chain and has built 11 hydrogen supply centers for fuel cells and 144 hydrogen refueling stations across China.
Yahoo
6 days ago
- Business
- Yahoo
RemeGen: Telitacicept for the Treatment of Generalized Myasthenia Gravis Approved in China
YANTAI, China, May 27, 2025 /PRNewswire/ -- On May 27, RemeGen Co., Ltd.( / announced that Telitacicept has officially been approved for marketing in China by the National Medical Products Administration (NMPA) for the treatment of adult patients with anti-acetylcholine receptor (AChR) antibody-positive generalized myasthenia gravis (gMG) in combination with conventional therapies. As the world's first innovative biologic drug targeting both BLyS and APRIL for the treatment of myasthenia gravis (MG), Telitacicept's approval not only brings new treatment options to patients, but also fills the gap of domestic innovative drugs in the field of MG treatment in China. It is expected to reshape the treatment landscape in this field. Previously, the indication of Telitacicept for MG was included in the breakthrough therapy category and priority review by the NMPA of China, and was granted orphan drug qualification and fast track designation by the FDA. Myasthenia gravis is an autoimmune disease caused by neuromuscular junction transmission disorders. It is characterized by fluctuating muscle weakness and fatigue in symptoms, long treatment cycles and high recurrence rate. Approximately 80%-85% of patients with MG patients are AChR antibody positive, and more than 85% of patients develop to gMG within 24 months of onset. According to Frost & Sullivan report, there are about 1.2 million MG patients worldwide, including approximately 220,000 patients in China. At present, there is a great unmet medical need. Telitacicept is constructed with the extracellular domain of the human transmembrane activator and calcium modulator and cyclophilin ligand interactor (TACI) receptor and the fragment crystallizable (Fc) domain of human immunoglobulin G(IgG). It simultaneously targets B-cell lymphocyte stimulator (also known as BLyS) and a proliferation-inducing ligand (APRIL), and directly attack the source of pathenogenic antibody production – B cells and plasma cells. According to the phase III data presented at the annual meeting of the American Academy of Neurology (AAN) on April 9, 2025, Telitacicept demonstrated a clinically meaningful efficacy and safety profile in patients with gMG. According to the data, after 24 weeks of treatment, 98.1% of patients in the Telitacicept group demonstrated a ≥ 3-point improvement in Myasthenia Gravis Activities of Daily Living ("MG-ADL") score, far exceeding that of the placebo group which was 12.0%. The MG-ADL score decreased by 5.74 points from baseline in the Telitacicept group, compared to a decrease of 0.91 point in the placebo group. 87.0% of the patients in the Telitacicept group demonstrated a ≥ 5-point improvement in Quantitative Myasthenia Gravis ("QMG") score, far exceeding that of the placebo group which was 16.0%. The QMG score decreased by 8.66 points from baseline in the Telitacicept, compared to a decrease of 2.27 points in the placebo group, thereby proving significant treatment benefit. In terms of safety, the overall adverse event (AE) rate in the Telitacicept group was comparable to that in the placebo group, indicating a good overall safety profile. Among the drugs for gMG that have completed phase III clinical studies, Telitacicept had the highest MG-ADL response rate. The approval of Telitacicept in China will benefit more patients with MG in the country, thereby allowing more ambitious treatment goals to be achieved in terms of long-term disease management. Currently, the Company is advancing the global multi-center phase III trial of Telitacicept in patients with MG, aiming to validate the efficacy and safety of Telitacicept in a wider patient population. The principal researcher, Professor Yin Jian from Beijing Hospital, said: "We sincerely congratulate the approval of the therapeutic indication of Telitacicept for MG! Telitacicept demonstrated rapid and significant clinical improvements in the Phase III trial with good tolerability. This is a major breakthrough and key progress for Chinese innovative drugs in the field of neuro-immune diseases. It provides a high profile basis for evidence-based clinical application of Telitacicept in the treatment of MG, and has also opened up a new paradigm of precise treatment in this field. We believe that with the inclusion of this indication in the medical insurance, Telitacicept will bring new and more effective treatment options to more patients." Dr. Fang Jianmin, the CEO of RemeGen, said: "The approval of the MG indication for Telitacicept in China is of great significance. It provides clinicians with a new and more powerful 'weapon' to treat patients more effectively and precisely. We look forward to the inclusion of this indication in the medical insurance system to help patients and their families reduce the burden of treatment and further improve their quality of life. RemeGen is advancing the global Phase III clinical study of Telitacicept for MG. We are looking forward to working closely with global experts and scholars to contribute to the continuous advancement of treating autoimmune diseases." Aside from Myasthenia Gravis, Telitacicept has been approved in China for the treatment of two other major indications, systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA). 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Zawya
7 days ago
- Business
- Zawya
Kuwait PIC, China's Wanhua Chemical Group sign deal to boost cooperation
KUWAIT - The Petrochemical Industries Company (PIC), a subsidiary of Kuwait Petroleum Corporation (KPC), signed a Memorandum of Understanding (MoU) on Sunday with Chinaآ's Wanhua Chemical Group to strengthen bilateral cooperation in the petrochemical sector. The memorandum was signed at the Ahmad Al-Jaber Oil and Gas Exhibition by PIC CEO Nadia Al-Hajji and Wanhua Chemical President Kou Guangwu, in the presence of Yantai government representative, Vice-mayor Yu Shengtao. This agreement marks a new step in the partnership between the two companies, building on a strategic agreement signed in April under which PIC acquired a 25 percent stake in several Wanhua petrochemical plants in Yantai, China. The memorandum aims to enhance collaboration across various areas, including research and development, value chain development, and expanding market reach in high-growth regions. Al-Hajji noted that this partnership aligns with PICآ's 2040 strategy of smart investments and sustainable growth, highlighting the dedication of both teams in turning plans into actionable steps. Kou Guangwu emphasized the mutual benefits of the partnership, stressing its role in fostering innovation and operational excellence to support economic growth in both countries. The Chinese delegation also toured the Ahmad Al-Jaber Exhibition, where they learned about Kuwaitآ's oil industry history, exploration, production, storage, transport, and downstream operations. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
Yahoo
12-05-2025
- Business
- Yahoo
Poised to Reshape Treatment Landscape: The Phase 3 Clinical Trial of Disitamab Vedotin as a First-Line Therapy for HER2-Expressing Locally Advanced or Metastatic Urothelial Carcinoma Reached its Primary Endpoints of PFS and OS
YANTAI, China, May 12, 2025 /PRNewswire/ -- On May 12th, 2025, RemeGen Co., Ltd. ("RemeGen", stock symbols: announced that its phase 3 clinical trial (Study ID: RC48-C016) on disitamab vedotin (DV, brand name: 爱地希®), the first domestically approved antibody-drug conjugate (ADC) in China, in combination with the PD-1 inhibitor toripalimab versus the standard chemotherapy as a first-line treatment for HER2-expressing locally advanced or metastatic urothelial carcinoma (la/mUC) has reached its two primary endpoints of progression-free survival (PFS) and overall survival (OS). Statistically significant differences and clinically meaningful benefits were observed from the strongly positive results of a prespecified interim analysis by Independent Data Monitoring Committee (IDMC). The major subgroup analyses showed that DV combined with toripalimab significantly improved PFS and OS compared with the standard chemotherapy treatment, irrespective of cisplatin eligibility or HER2 expression level. Furthermore, this regimen exhibited manageable safety profile and tolerable adverse reactions. Detailed data of this study are planned to be presented at major international academic conferences later this year. Subsequently, RemeGen plans to file Biologic License Application (BLA) for this indication to the Center of Drug Evaluation of National Medical Products Administration (NMPA) in China. RC48-C016 is a randomized, active-controlled, multi-center phase 3 clinical trial evaluating efficacy and safety of DV plus toripalimab versus gemcitabine in combination with cisplatin/carboplatin in systemic-treatment-naive patients with HER2-expressing (defined as IHC 1+, 2+ or 3+) la/mUC. The study was initiated in June 2022 and conducted in 74 sites across China with 484 patients enrolled. The principal researcher of this study, Professor Guo Jun from Peking University Cancer Hospital, said: "Extremely exciting! We, once again, jointly witnessed a strong positive result of DV combined with toripalimab in the first-line treatment of advanced urothelial carcinoma. Regardless of whether the patients are suitable for cisplatin treatment and regardless of patients' HER2 expression status, DV combined with toripalimab significantly improved PFS and OS. This outstanding efficacy proves the success of the 'HER2-ADC + immunotherapy' combination treatment concept, and is also a major breakthrough in the global treatment of urothelial carcinoma. We look forward to the excellent performance of DV in subsequent studies which should provide better decision-making basis for clinicians, bring more benefits to patients, and reshape the global treatment landscape of urothelial carcinoma with the 'Chinese approach'." View original content to download multimedia: SOURCE RemeGen Co., Ltd Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
08-05-2025
- Automotive
- Forbes
Chinese Billionaire Eric Li To Delist Zeekr One Year After U.S. IPO
Potential customers look at Zeekr electric cars in Yantai, Shandong province, earlier this year. CFOTO/Future Publishing via Getty Images Chinese auto billionaire Eric Li's decision to privatize the New York-listed electric vehicle brand Zeekr was cheered by investors, with Hong Kong-listed shares of the parent company, Geely Automobile, rallying as much as 6.7% Thursday morning. Geely, whose shares have risen 25% so far this year, announced its proposal to take Zeekr private in a stock exchange filing late Wednesday. The company plans to offer $25.70 for each of the Zeekr American Depositary Share (ADS) it doesn't already own, according to the filing. Geely owns 65.7% of Zeekr's total shares, the filing shows. To acquire the rest, the parent company needs to pay about $2.2 billion, according to Forbes' calculation based on the filing. The move comes almost exactly a year after Zeekr completed its U.S. initial public offering last May. The EV brand, which now has a market capitalization of $6.4 billion, will be delisted and become a wholly owned Geely subsidiary if the deal is done, according to the stock exchange filing. Analysts see multiple benefits from privatization. It might be a strategy to preempt moves to delist Chinese companies from American bourses as tensions rise between the world's two largest economies, Ke Yan, Singapore-based head of research at DZT Research, says by WeChat. Zeekr was among dozens of Chinese companies—which also included e-commerce giants Alibaba, and PDD Holdings—that Republican lawmakers have proposed kicking off U.S. stock exchanges. Last week, they wrote a letter to the U.S. Securities and Exchange Commission arguing that the companies support China's military while attracting American capital. A Zeekr representative didn't respond to messages seeking comment. The privatization offer also brings plenty of commercial benefits, as it helps to reduce internal competition and consolidate resources, says Ke. Zeekr isn't the only EV brand Geely operates. Li, who has a net worth of $16.4 billion partly based on a Geely stake, has over the years directed the firm to acquire multiple auto companies including Lotus, Lynk & Co and Volvo Cars, as he tries to build a global empire. At a time of heightened competition at home, privatizing Zeekr can help the parent company focus on market opportunities, Yale Zhang, Shanghai-based managing director at consultancy Automotive Foresight, says by WeChat. It can improve efficiencies, adjust supply chain resources and better position the brand to compete with the likes of Xiaomi, he continues. Due to good product offerings and improved marketing campaigns, Zhang estimates that Zeekr can meet its target of delivering 320,000 vehicles this year, up 12% from 285,441 units in 2024.
