Sino Biopharmaceutical announced on 15 July its acquisition of China compatriot LaNova Medicines for USD 500 million (net of LaNova's USD 450 million cash reserves), securing full ownership of the innovative oncology biotech. The deal follows Sino Biopharm's 2024 investment in LaNova's Series C round, which granted it a 4.91% stake. LaNova's pipeline includes eight clinical-stage assets, notably the PD-1×VEGF bispecific LM-299 (licensed to MSD for USD 3.3 billion) and GPRC5D-targeted ADC LM-305 (licensed to AstraZeneca for USD 600 million). Both candidates were out-licensed during preclinical stages, underscoring LaNova's global appeal.

The acquisition bolsters Sino Biopharm's oncology and immuno-oncology capabilities with LaNova's four proprietary platforms: LM-TME (tumour microenvironment), LM-Abs (difficult-to-drug targets), LM-ADC (next-gen ADCs), and LM-TCE (T-cell engagers). Key assets include LM-108 (anti-CCR8 mAb with two breakthrough therapy designations in China) and LM-302 (Claudin 18.2 ADC in Phase III trials for gastric/pancreatic cancers). LaNova's team, averaging 15+ years in immunology/oncology R&D, will join Sino Biopharm to drive innovation.

Sino Biopharm aims to leverage LaNova's validated global innovation to expedite its internationalisation. The deal aligns with Sino Biopharm's push beyond its current late-stage pipeline (e.g., HER2 bispecifics, FGF21 analogues) and early assets like oral GLP-1 therapies. Post-acquisition, Sino Biopharm's market cap stands at HKD 119.5 billion, doubling year-to-date but still below its peak of HKD 200+ billion. Analysts view this as a catalyst for regaining market leadership, with LaNova's USD 4 billion+ out-licensing track record enhancing Sino Biopharm's global credibility. 

According to PharmCube's NextBiopharm database, this is the fourth largest acquisition of a Chinese drug company by valuation, and the largest domestic pharma M&A deal, attesting for the maturity of China's industry. Click here to request a free trial for NextBiopharm.