On the morning of July 17, Sino Biopharm (1177.HK) held a briefing on the full acquisition of LaNova Medicines. In this transaction, Sino Biopharm completed the 100% equity acquisition of LaNova Medicines at a valuation of approximately $1 billion, marking a key step for the company in strengthening its innovative cancer drug R&D capabilities and accelerating its international layout. It is considered a landmark merger representing the deep integration of a domestic pharmaceutical leader and a top-tier biotech company. Ms. Theresa Tse, Chairwoman of the Board of Sino Biopharm, and Ms. Crystal Qin, Founder, Chairwoman and CEO of LaNova Medicines, attended the meeting, introducing the background and significance of the acquisition to the institutional representatives and providing a detailed interpretation of LaNova Medicines' technology, pipeline and team.

 

 

Ms. Theresa Tse emphasized: The core value of this acquisition is far more than a simple merge of resources; it lies in the strategic synergy where "1+1>2" by integrating R&D innovation capabilities with industrial-scale manufacturing capabilities.

 

Complementary Advantages and Strategic Synergy to Enhance Innovative Layout in Three Major Cancer Types

 

LaNova Medicines is an innovative drug R&D company focusing on First-in-Class and Best-in-Class products. It possesses four proprietary platforms: antibody, ADC, TCE, and tumor microenvironment. It has already achieved two major out-licensing deals with MNCs and has the experience and capability to conduct clinical trials in China, the United States, and Australia.

 

Ms. Theresa Tse stated at the briefing that LaNova Medicines is currently the only company in the entire market whose bispecific antibody and ADC technology platforms have both been recognized by international MNCs, which is a significant validation of the company's R&D strength. She stated that Sino Biopharm and LaNova Medicines have deep ties. As early as the end of 2024, during the Series C financing round, the company invested RMB 142 million for a stake of nearly 5% in LaNova Medicines, as well as the exclusive rights to the CCR8 monoclonal antibody LM-108 in mainland China. In 2025, LM-108 has achieved breakthrough clinical data in advanced solid tumors, gastric cancer, and pancreatic carcinoma, and has received two Breakthrough Therapy Designations. The collaboration exhibited exceptional synergy during project advancement, laying a solid foundation for deeper strategic partnership. The entire M&A process – from initiation to completion – took merely about two months, reflecting both parties’ strong strategic trust and outstanding execution efficiency.

 

Ms. Theresa Tse emphasized that LaNova Medicines's greatest strength is its early-stage research capability, while Sino Biopharm possesses the strongest integrated capabilities in clinical, registration, manufacturing, and commercialization in China, which can accelerate the clinical development of LaNova Medicines's innovative pipeline. The company's powerful clinical, manufacturing, and commercialization platforms will empower LaNova Medicines, providing full-cycle support for its innovative pipeline and enabling more and better innovative drugs to benefit global patients sooner.

 

Furthermore, with breast cancer, lung cancer, and gastrointestinal cancers being the three cancer types with the highest incidence rates currently, the addition of LaNova Medicines will bring blockbuster drugs such as PD-1/VEGF bispecific antibody, CTLA-4 monoclonal antibody, and Claudin 18.2 ADC, further enhancing Sino Biopharm's innovative pipeline in these three major cancer types. In the future, Sino Biopharm will have dozens of innovative assets in each field, covering various subtypes and achieving comprehensive coverage from front-line to later-line treatments.

 

Accelerating the Translation of Innovative Achievements to Benefit Global Patients

 

Dr. Crystal Qin, Founder, Chairwoman and CEO of LaNova Medicines, stated at the press conference that during the collaboration on the LM-108 project, the Sino Biopharm team demonstrated outstanding clinical capabilities and team spirit. After the collaboration, they conducted an in-depth evaluation of all aspects of Sino Biopharm and ultimately determined that joining the company was the best choice.

 

Dr. Crystal Qin stated that LaNova Medicines will rely on the strong resource support of Sino Biopharm, while maintaining its independent R&D capabilities to continuously produce high-value innovative molecules. With the joint efforts of both teams, it will help bring Chinese innovative drugs to the center of the global stage.

 

On site, Dr. Crystal Qin outlined LaNova Medicines's entrepreneurial vision and strategic roadmap. She emphasized that LaNova Medicines differentiates itself through distinctive pipeline selection – specifically focusing on antibody-based macromolecules, particularly challenging targets like multiple transmembrane domains. By establishing its proprietary platform, LaNova Medicines aims to sustainably deliver innovative therapies.

 

LaNova Medicines has independently built four major technology platforms: the tumor microenvironment-specific antibody development platform (LM-TME), the antibody development platform for difficult-to-drug targets (LM-Abs), the new-generation Antibody-Drug Conjugate platform (LM-ADC), and the T-cell Engager platform (LM-TCE). In over five years, eight projects have entered clinical trials, including two in Phase III, three in Phase II, and three in Phase I. Dr. Qin Ying highlighted several of the most promising core products at the meeting—

 

The core product, CCR8 monoclonal antibody LM-108, is currently a global leader with the most advanced progress. Its MSI-high solid tumor indication has progressed to Phase III trials, while Phase II data in gastric and pancreatic cancers have demonstrated highly promising results. Notably, it is currently the only CCR8-targeting investigational drug worldwide with two Breakthrough Therapy Designations.

 

The Claudin 18.2 ADC drug LM-302 has also entered the Phase III clinical stage. Currently, enrollment for the Phase III trial for the third-line and above gastric cancer indication is more than halfway complete and is expected to be finished this year. In addition, the CTLA-4 TME monoclonal antibody LM-168 is a tumor microenvironment-selective anti-CTLA-4 monoclonal antibody, currently undergoing Phase I clinical trials in Australia. LM-364 is a next-generation anti-Nectin-4 TME ADC with Best-in-Class potential and dual attenuation characteristics.

 

Ms. Theresa Tse stated that this collaboration is a mutual commitment between like-minded partners in China's biopharmaceutical industry, as well as a united breakthrough by innovation pioneers. We believe that with the addition of LaNova Medicines, the future development of Sino Biopharm will be greatly enhanced. We will work together to advance the rapid development and internationalization of a series of blockbuster pipelines, delivering better treatment options to benefit cancer patients worldwide.

 

Sino Biopharm's acquisition of LaNova Medicines has drawn significant attention globally and is widely regarded as a landmark event of a leading domestic Chinese pharmaceutical company acquiring a top-tier biotech. Several authoritative overseas financial and industry media outlets, such as Bloomberg, Reuters, and Fierce Biotech, have reported on this, describing this landmark major acquisition as a key step in the integration and upgrading of China's biopharmaceutical industry. The following are excerpts from some media reports:

 

 

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Source: Bloomberg, Reuters, Fierce Biotech, etc.