Terns Pharma acquires greater China rights to treat liver disease

A prospectus has been filed for the Hong Kong IPO by the specialty pharma company, Tesla Biopharma. The anticipated transaction could raise around $1Bn. Tasly Bio is the biologics branch of Tasly Pharma, A TCM firm which decided in 2001 to expand into innovative drug development. The firm has only 1 launched product, which is an anti-thrombolytic drug and is the pursuit to develop further 12 biologic products for cancer, cardiovascular, metabolic, gastric, and autoimmune diseases.

A startup of Shanghai-California, Terns Pharma, has gotten the acquisition of greater China rights in order to do treatment of liver disease developed by France’s Genfit in a contract of value up to $228M. Terns will be having the right of developing elafibranor (dual peroxisome proliferator-activated alpha/delta (PPAR alpha/beta) agonist) for the treatment of alcoholic steatohepatitis, as well as, primary biliary cholangitis in China. Cancer & liver disease firm, Terns will be making an upfront payment of $35M to Genfit, with the rest being adjusting and trades milestones.

A Singapore firm which has 250 aesthetic clinics and sales channels in Southeast Asia, Novena Global Lifecare, will get an investment of around $20M from Cedarlake Capital & Sinopharm Capital. Novena was discovered in 2010 and is one of the giant largest medical healthcare and aesthetic groups in the area. Moreover, the three firms have aimed to raise as much as $150 million for a new Sino-Singapore Healthcare Fund. The fund will be invested in mature drugs, medical services, precision medical drugs, biomedical projects, and Southeast Asia.

Eddingpharm certified greater China rights for a treatment of thrombocytopenia, which is a side-effect of liver disease, from Shionogi of Japan. People with this condition suffer from a low platelet count & are commonly given treatment by means of blood transfusions to assist blood clotting.

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