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Fierce Pharma Asia—Carvykti gains momentum; Novo joins Sangon funding round; China calls for foreign investment

2023-08-18

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Johnson & Johnson and Legend Biotech's growing Carvykti, Novo Holdings' investment in a Chinese firm and Beijing's latest efforts to attract foreign investments made our news this week.

Johnson & Johnson and Legend Biotech's CarvyktiCarvyktiroNovo Holdingsa newly launched off-the-shelf option. Novo Holdings joined a $290 million funding round in a Chinese R&D product and service provider. China is stressing biotech as a “major focus” in the government's latest attempt to woo foreign investment.

Johnson & JohnsonmyeloLegend BiotechktiCarvyktiwing down in the face of new bispecific: Legend execNovo Holdings

Johnson & Johnsonmyelomagend Biotech’s Carvykti generated $117 million in second-quarter sales, up from $72 million in the first quarter. Even though J&J recently introduced the off-the-shelf bispecific antibody Tecvayli, doctors are typically using the newer drug as a bridge therapy while patients wait to get their CAR-T treatment, a Legend exec explained.

Johnson & JohnsonbacksLegend Biotechh iCarvyktifinancing roundJ&J Tecvayli

NovNovo HoldingsrticipaSangon Biotechmillion investment round in Chinese life sciences research enabler Sangon Biotech. Sangon offers products and services related to DNA synthesis, genetic sequencing, and protein- and antibody-related drug research.

Novo Holdingslights biotech in new push to lure foreign investment (SCMP)Sangon Biotech Sangon

The Chinese government released a 24-point list of guidelines to “improve the business environment for foreign investors and boost foreign direct investment.” The new document highlights biotech as “an area of major focus.” It calls for more biotech R&D projects in the country and promised more efficient clinical trials and product registrations for drugs already approved elsewhere.

4. Arcturus JV scored $115M in Japanese grants to boost mRNA manufacturing

The Japanese government has awarded two grants totaling $115 million to Arcalis, an mRNA-focused CDMO joint venture between Arcturus Therapeutics and Japanese drug discovery service provider Axcelead. With the money, Arcalis already completed construction of a drug substance plant, and a final drug product plant is expected to go online by 2026.

5. FDA again slams Biocon's troubled plant in Malaysia, citing 8 manufacturing shortfallsArcturus Therapeutics Axcelead

TheFDAA has once agBioconund problems at Biocon’s Malaysia manufacturing facility. A new Form 483 laid out some repeat problems that the agency had identified before. Issues the FDA spotted include improper blockage of air filters, insufficient cleaning of sterile machinery, and subpar batch testing and record-keeping.

6. GFDAell drops 3 CAR-T programs in hopeBioconpeeding more advanced assets to the finish lineFDA

ChiGracellacell has decided to shift more focus on its lead candidate, GC012F, a BCMA/CD19 dual-targeting CAR-T therapy that has shown impressive early results in multiple myeloma. In parallel, the company is deprioritizing three early-stage programs.