Merck and AstraZeneca's cancer collaboration partner, Sino Biopharm, faces an acquisition that will consume the company entirely.
**Sino Biopharmaceutical Acquires Shanghai-based LaNova Medicines for $951 Million**
Sino Biopharmaceutical, a leading Chinese pharmaceutical company, has announced its acquisition of LaNova Medicines, a Shanghai-based biotech firm specialising in PD-1xVEGF bispecific antibodies, for up to $951 million. The deal, valued at approximately $501 million net after considering LaNova's substantial cash reserves, is set to close within 30 business days after all conditions have been met.
LaNova Medicines, known for its partnerships with global pharmaceutical leaders such as Merck & Co. and AstraZeneca, is a pioneer in developing PD-1xVEGF bispecific antibodies, an innovative approach in immuno-oncology that combines PD-1 immune checkpoint inhibition with VEGF pathway targeting to enhance cancer treatment effectiveness.
The acquisition positions Sino Biopharmaceutical to deepen its R&D capabilities and pipeline in oncology, particularly in bispecific antibodies, strengthening its market position domestically amid a trend of M&A activity aimed at securing innovative drug candidates.
One of the key assets that Sino Biopharmaceutical gains through this acquisition is LaNova's pipeline full of other Antibody-Drug Conjugates (ADCs) and bispecific antibodies. Some of the notable ADCs in LaNova's pipeline include LM-108, a monoclonal antibody against tumors with high microsatellite instability, currently in Phase III trials, and LM-302, an ADC for gastric cancers also in Phase III trials.
Moreover, LM-305, an ADC targeting the GPRC5D protein, was developed through a partnership with AstraZeneca, signed in May 2023. This deal netted LaNova $55 million upfront and up to $545 million in milestones, plus tiered royalties.
The acquisition exemplifies the increasing momentum and valuation of PD-1xVEGF bispecific therapies, a hot area in immuno-oncology where combining anti-PD-1 immune checkpoint inhibition with VEGF inhibition holds promise for superior clinical outcomes in cancer treatment.
This acquisition is a significant milestone in China's biotech industry, underscoring its burgeoning strength in innovative cancer therapies and the growing collaboration and competitive dynamics between Chinese biotechs and Western pharma beyond simple licensing, moving toward full ownership and commercialization rights.
References: [1] Sino Biopharmaceutical to Acquire LaNova Medicines for up to $951 Million. (n.d.). Retrieved from https://www.genengnews.com/news/sino-biopharmaceutical-to-acquire-lanova-medicines-for-up-to-951-million/
[2] Sino Biopharmaceutical to Acquire LaNova Medicines for up to $951 million. (n.d.). Retrieved from https://www.biopharmadive.com/news/sino-biopharmaceutical-lanova-acquisition/2025/06/
[3] Sino Biopharmaceutical to Acquire LaNova Medicines for up to $951 million. (n.d.). Retrieved from https://www.fiercebiotech.com/biotech/sino-biopharmaceutical-to-acquire-lanova-medicines-for-up-to-951-million-in-deal-that-illustrates-growing-domestic-consolidation-and-strategic-portfolio-expansion-in-chinas-biotech-landscape
In the context of Sino Biopharmaceutical's acquisition of LaNova Medicines, the deal will not only boost the company's finances but also significantly enhance its industry position in business sectors such as immuno-oncology and oncology, given LaNova's innovative pipeline of Antibody-Drug Conjugates (ADCs) and bispecific antibodies. The acquisition, valued at approximately $501 million, is indicative of the growing importance and financial investment in the PD-1xVEGF bispecific therapy industry.