Week in Review: Zai Lab Enters $338 Million Agreement to In-License KRAS Inhibitor

Deals and Financings   Shanghai 's Zai Lab in-licensed Greater China rights to adagrasib, a KRASG12C inhibitor, from Mirati of San Diego in a $338 million agreement; The  Guangzhou Sino-Israel Biotech Investment Fund is raising $300 million to fund the expansion of Israeli biomed companies into China ; Shanghai 's Stemirna Therapeutics raised nearly $200 million to finance clinical trials and production of its messenger RNA COVID-19 vaccine candidate; Suzhou Innovent Biologics acquired  China  rights to co-develop taletrectinib, an AnHeart oncology candidate, in a $189 million pact; LianBio landed  China  rights to a long-term treatment for chronic rhinosinusitis from Lyra Therapeutics in an agreement worth up to $147 million; Phanes Therapeutics, a San Diego-Shanghai immunoncology company, completed a $40 million Series B financing; Neurophth, a  Wuhan  gene therapy company, will partner with  Hangzhou 's Hopstem to develop a stem cell candidate for blindness;   Government and Regulatory   Shanghai 's government announced new incentives for local companies that are developing new drugs, medical devices or signing contract manufacturing agreements;  Trials and Approvals   Suzhou Innovent Biologics and its partner, Eli Lilly, announced their jointly developed anti-PD-1 was approved in  China  as a first-line therapy for NSCLC; MicuRx Pharma was approved for a China launch of contezolid, its next-gen oxazolidinone antibiotic, to treat complicated skin and soft tissue infection; Shanghai Junshi Bio reported toripalimab, the company's anti-PD-1 drug, was effective as a first-line treatment for nasopharyngeal carcinoma; Nanjing IASO Bio has been approved to start  China  clinical trials of a CD19/CD22 dual-targeting CAR-T candidate for leukemia.  Stock Symbols: (NSDQ: ZLAB; HK: 9688) (NSDQ: MRTX) (HK: 01801) (NSDQ: LYRA) (NYSE: LLY) (HK: 1877; SHA: 688180) (HK: 01801) Share this with colleagues: // //