Ab&B Bio-Tech Co., Ltd.

Plus, news about Valneva and Ab&B Bio-Tech: FDA delays decision on Stealth BioTherapeutics drug to April 29: The company’s elamipretide is being developed for Barth syndrome, a rare genetic disorder that affects the heart and muscles. Stealth said the regulator needed more time to review information provided following an advisory committee meeting last October. — Max Gelman TargetRx raises $50M Series C: The Shenzhen, China-based biotech said the money will fund “overseas clinical development of multiple innovative drugs.” It didn’t disclose the investors that participated in the round. TargetRx has multiple leukemia, lung cancer and solid tumor drugs in development. Simcere Zaiming paid the biotech about $20 million last fall for commercial rights in China to an ALK/ROS1 inhibitor. — Kyle LaHucik Valneva’s chikungunya vaccine succeeds in Phase 2 in children: The vaccine, called Ixchiq, hit the primary endpoint of safety in a trial of 304 children between the ages of 1 and 11 years old. Valneva also tested immunogenicity, saying both the half- and full-dose cohorts were “highly immunogenic.” The full-dose group also saw higher antibody titers compared to the half dose after two weeks and four weeks. A Phase 3 study in children is expected to begin in the fourth quarter. — Max Gelman Vaccine maker files for HKEX listing: Ab&B Bio-Tech, based in Taizhou, China, filed for an IPO on the Hong Kong Stock Exchange, joining a string of other Chinese drugmakers also seeking to float on the HKEX in recent weeks. The company has an approved influenza vaccine in China and is developing shots for rabies, herpes, RSV, mpox and other indications. The nearly decade-old biotech had 114 million RMB ($15.6 million) in cash and equivalents at the end of September. — Kyle LaHucik