Deals and Financings
NJCTTQ, a Nanjing biopharma, announced a deal worth up to $4 billion to co-develop bispecific immunotherapies discovered by Abpro of Massachusetts. NJCTTQ will have China and Thai rights to multiple immunotherapies discovered by Abpro's DiversImmune antibody discovery platform for T-cell engagement. NJCTTQ will make a $60 million near-term payment to Abpro to underwrite R&D expenses and be responsible for the remainder in milestones and royalties. NJCTTQ is a subsidiary of CTTQ Pharma, a division of Sino Biopharm (HK: 1170).
Suzhou CStone Pharma (HK: 2616) raised $285 million in an Hong Kong IPO