Annual BayHelix awards highlight China’s maturing life sciences sector
Legend, Insilico, Turning Point, Immune-Onc among winners; Joan Shen named Woman Leader of Year
In an award ceremony recognizing five achievements in the life sciences in China, BayHelix highlighted the maturation of China’s life sciences ecosystem and growing cross-border activity. Legend took home Commercial Achievement of the Year following approval of its first product, and Insilico earned Company of the Year honors.
The results were announced at the BioCentury-BayHelix East-West BioPharma Summit. BayHelix is a global non-profit organization of Chinese business leaders in the life sciences and healthcare industry.
A decision by Legend Biotech Corp. (NASDAQ:LEGN) to take on higher-risk targets for its CAR T cell therapies than many of its Chinese peers paid off with FDA’s approval of its first product, Carvykti ciltacabtagene autoleucel, in February to treat relapsed or refractory multiple myeloma after four or more prior lines of therapy. The CAR T cell therapy against BCMA, which is partnered with Johnson & Johnson (NYSE:JNJ), has since been approved in Japan and earned conditional approval in the EU.
Insilico Medicine Inc. earned its award for its impact on the landscape, reputation and ecosystem of China’s life sciences industry. BayHelix cited the AI company’s establishment of an end-to-end platform to discover targets, design drugs and predict clinical outcomes.
Joan Shen, founder and CEO of NeuShen Therapeutics Inc., was named Woman Leader of the Year. Shen’s Shanghai- and Boston-based biotech, which raised $20 million in a pre-series A round led by Lapam Capital this fall, has discovery platforms for adeno-associated viral (AAV) vector-based gene therapies and small molecules for neurological and psychiatric disorders.
R&D Achievement of the Year went to Immune-Onc Therapeutics Inc. BayHelix cited the company’s first-in-class myeloid checkpoint inhibitors, which include two assets in the clinic, as well as the company’s deals with Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) and BeiGene Ltd. (NASDAQ:BGNE; HKEX:6160; Shanghai:688235) to evaluate its compounds in combination with anti-PD-1 antibodies.
And Deal of the Year went to Turning Point Therapeutics Inc. (NASDAQ:TPTX), which was acquired by Bristol Myers Squibb Co. (NYSE:BMY) for $4.1 billion. The high-premium acquisition suggested that BMS believes precision oncology therapy repotrectinib will become a standard-of-care treatment that will outsell other drugs in its class.