After market close on July 15, Sino Biopharm announced that it will acquire a 95.09% stake in Shanghai-based LaNova Medicines for a total price of approximately USD 500 million. Combined with the 4.91% stake already acquired through participation in LaNova's Series C financing, LaNova Medicines will become a wholly-owned subsidiary of Sino Biopharm upon completion of the transaction.

Ms. Theresa Tse, Chairwoman of the Board of Sino Biopharm, stated that as a top innovative drug R&D company, LaNova Medicines has an outstanding and efficient R&D team and a highly valuable innovative pipeline. In just over five years since its establishment, it has achieved remarkable R&D results, particularly in filling multiple clinical gaps in areas such as lung cancer, gastrointestinal cancers, and autoimmune diseases, bringing new treatment hope to numerous patients. The addition of LaNova Medicines will significantly enhance the company's core competitiveness and global influence in innovative oncology therapy, bringing better treatment options to cancer patients worldwide.

Ms. Crystal Qin, Founder, Chairwoman, and CEO of LaNova Medicines, stated that leveraging its differentiated technological capabilities, LaNova Medicines has become a leading biotech company with validated bispecific antibody and ADC platforms recognized by multinational corporations (MNCs). "We are very honored to join Sino Biopharm and look forward to working together to advance the R&D of innovative drugs. By leveraging Sino Biopharm's strong commercialization capabilities and global influence, we aim to bring more high-quality innovative drugs to the international market for the benefit of patients worldwide."

LaNova Medicines, established in Shanghai in 2019, is an innovative drug R&D company focusing on First-in-Class and Best-in-Class products.

On May 12, 2023, LaNova Medicines entered into an exclusive global licensing agreement with AstraZeneca for LM-305, a novel GPRC5D-targeting Antibody-Drug Conjugate (ADC). In November 2024, LaNova Medicines further partnered with MSD, granting exclusive worldwide rights to its self-developed PD-1/VEGF bispecific antibody LM-299. To date, LaNova Medicines has secured nearly USD 4 billion in cumulative out-licensing deals (approximately RMB 30 billion). It also has nearly 20 early-stage pipeline assets, all demonstrating strong potential for international out-licensing.

This acquisition of LaNova Medicines by Sino Biopharm is a powerful alliance that is expected to further strengthen Sino Biopharm's innovative R&D capabilities, expand its pipeline, and accelerate its internationalization process.

Editor in Charge: Ma Xiaohui