Sino Biopharm to work with LaNova on LM-108

22 November 2024

Hong Kong-based Sino Biopharm (HKEX: 1177) has signed an equity investment and strategic collaboration agreement with LaNova Medicines, advancing its oncology focus.

The deal includes a 4.91% stake in LaNova, at a cost of 144 million renminbi ($20 million), as well as rights for LM-108 and other potential antibody-based therapies in China.

The investment is part of LaNova’s $42 million series C1 financing round, announced in October, which is aimed at accelerating clinical pipelines and platform development. Sino's role as lead investor strengthens its oncology portfolio, aligning with LaNova’s focus on monoclonal antibodies, bispecific antibodies, and antibody-drug conjugates (ADC).

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