Zenas’ PIPE fuels multi-asset deal in China: Public Equity Report

Zenas Biopharma Inc. (NASDAQ:ZBIO) is leveraging a $120 million PIPE to fund an expansion of its portfolio as it becomes the latest U.S. biotech to source clinical-stage assets from China. 

The Boston-based biotech, led by veteran CEO Lonnie Moulder, announced on Wednesday that it paid $100 million in upfront and near-term milestone payments to license three programs from Innocare Pharma Ltd. (HKEX:9969; Shanghai:688428): orelabrutinib, a CNS-penetrant BTK inhibitor in Phase III testing to treat multiple sclerosis; ZB021, an oral small molecule inhibitor of IL-17A/F; and ZB022, a brain-penetrant TYK2 inhibitor. ...