CHGCF - Week In Review: LianBio To Close Operations; Will Pay $528M To Shareholders
2024-02-18 02:05:00 ET
Summary
- LianBio plans to stop all its operations by the end of 2024 and will distribute a $4.80 dividend/share ($528M) to its shareholders.
- Yiviva signed a memorandum of understanding with AstraZeneca China for an R&D collaboration at AstraZeneca’s Innovation Campus (iCampus) in Chengdu.
- Tokyo’s Chugai Pharma announced China approval of crovalimab, a humanized complement inhibitor C5 mAb to treat paroxysmal nocturnal hemoglobinuria.
Company News
LianBio ( LIAN ), a Princeton-Shanghai biotech, has decided to call it quits. The company said its best option for the future is to close all its operations (see story ). Founded four years ago, LianBio emerged from Perceptive Advisors, a New York City company that invested in biopharmas and has $9.5 billion in assets under management. Perceptive, which wanted to participate in China's drug development scene, formed LianBio to in-license drugs, mainly from its portfolio companies, and bring them to China/Asia. LianBio plans to stop all its operations by the end of 2024 and will distribute a $4.80 dividend/share ($528 million) to its shareholders....
Week In Review: LianBio To Close Operations; Will Pay $528M To Shareholders