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2025-07-16 11:27:48 SINO BIOPHARM (01177.HK)'s acquisition of LaNova Medicines will further expand its innovative product line, Citi Research issued a research report saying. The broker noted that LaNova Medicines possesses a valuable innovative product line, including LM-299 (PD-1/VEGF) licensed-out to Merck Sharp & Dohme (MSD), LM-305 (GPRC5D ADC) licensed-out to AstraZeneca, LM-108 and LM-302 (CLDN18.2 ADC). Citi Research also considered the transaction a milestone for China's pharmaceutical industry, as it is the first 'China-to-China' merger and acquisition (M&A). SINO BIOPHARM also made significant progress in innovative drug development, Citi Research added. TQC3721 is the world's second-leading PDE3/4 inhibitor, and began Phase III clinical trials for chronic obstructive pulmonary disease (COPD) in June, which has strong licensing potential, in the broker's view. In addition, innovative drugs such as TQB6411 (EGFR/cMet ADC) and TQB3003 (4th-generation EGFR TKI) have entered clinical stage. The entire China pharmaceutical and biotech industry will continue to benefit from innovative advancements and out-licensing trend. Therefore, the broker now rated SINO BIOPHARM at Buy, with a target price of $6.2. ~ ASTOCKS Financial News Website: www.aastocks.com | |