Cenobamate

Bristol Myers Squibb's exit from a Chinese joint venture, two new biotechs with Chinese assets and reported deal talks by Roche and Johnson & Johnson with Shanghai Henlius Biotech made our news this week. Bristol Myers Squibb is exiting the first U.S.-China pharmaceutical joint venture. Kalexo Bio and Ollin Biosciences have launched with big venture capital backers and Chinese assets. Roche and Johnson & Johnson are reportedly eyeing an antibody-drug conjugate deal with Henlius. And more. 1. BMS sells controlling stake in historic US-China pharmaceutical joint ventureBristol Myers Squibb is exiting its 60% stake in Sino-American Shanghai Squibb Pharmaceuticals, which was established in 1982 as the first U.S.-China pharmaceutical joint venture. An internal email circulating online suggests Hillhouse Capital is on the other end of the deal, which also includes five old or over-the-counter products that the unit makes exclusively for the mainland China market.2. VC Aditum launches cardiovascular biotech, offers Mabwell up to $1B for siRNA assetCalifornia venture capital firm Aditum Bio has hatched another biotech by partnering up with China’s Mabwell Bioscience. Called Kalexo Bio, the startup carries a dual-target siRNA candidate after Aditum licensed the asset from Mabwell for $12 million in upfront and near-term payments. Kalexo will develop the drug for dyslipidemia and high-risk atherosclerotic cardiovascular disease.3. Eye disease biotech launches with $100M and sights set on Roche showdownOllin Biosciences has launched with two assets from Chinese biotechs: a VEGFxAng2 bispecific from Innovent Biologics and a TSHRxIGF-1R bispecific from VelaVigo. The eye-disease-focused startup is co-founded and headed by Jason Ehrlish, M.D., who supported the development of Roche’s Vabysmo, and counts Arch Venture Partners, Mubadala Capital and Monograph Capital among its backers.4. Fosun’s Henlius in talks with J&J, Roche on PD-L1 ADC (Bloomberg)Shanghai Henlius Biotech is in talks with Johnson & Johnson and Roche about a licensing deal around HLX43, a PD-L1 antibody-drug conjugate that’s in midstage testing in China, Bloomberg reports, citing people familiar with the matter. A deal could be worth several hundred million dollars upfront, the people said. Pfizer, already in phase 3, is currently the furthest in development with a PD-L1 ADC.5. GE HealthCare considering stake sale in China division: reportGE Healthcare is exploring options for its China unit, including the sale of a stake, people familiar with the matter told Bloomberg. A transaction may value the China assets at several billion dollars, the people said. GE’s China business has encountered some challenges thanks to U.S.-China tariffs.6. SK's blockbuster hopeful Xcopri reduces seizures in phase 3 trial, teeing up FDA expansion bidSK Biopharmaceutical reported a positive phase 3 readout for Xcopri in primary generalized tonic-clonic seizures. The 169-patient trial showed the drug reduced seizure frequency by 71.9% from baseline, versus 39.6% for placebo, over 28-day intervals. SK plans to file for an FDA label expansion on top of Xcopri’s existing focal seizures indication.Other News of Note:7. Dr. Reddy's India biologics plant issued FDA Form 4838. QL Biopharm links once-monthly GLP-1 to incumbent-rivaling weight loss in phase 29. Celltrion, Becton Dickinson team up to boost prefilled syringe manufacturing (release)