Sino Biopharma Acquires LaNova Medicines for $951m, Strengthening Oncology Portfolio

Sino Biopharmaceutical is acquiring China-based oncology specialist LaNova Medicines for up to $951m, excluding cash and deposits. The deal will make LaNova an indirect wholly owned subsidiary of Sino. The acquisition aims to strengthen Sino's research and development capabilities and enhance competitiveness in the oncology market. LaNova has several projects in the registration clinical stage and has licensed drugs to AstraZeneca and MSD.

Hong Kong-listed Sino Biopharmaceutical has announced plans to acquire China-based oncology specialist LaNova Medicines for up to $951 million, excluding cash and deposits. The deal, which will make LaNova an indirect wholly-owned subsidiary of Sino, aims to strengthen Sino's research and development capabilities and enhance its competitiveness in the oncology market.

Sino already owns a 4.91% stake in LaNova, acquired in November 2024 for 142 million yuan ($19.80 million). The net payment for the remaining 95.09% stake is approximately $500.9 million, according to a company document [1]. The transaction is expected to be finalized within 30 business days after regulatory conditions are met.

LaNova Medicines specializes in discovering and developing antibody-based cancer treatments. The company has several projects in the registration clinical stage and has licensed drugs to AstraZeneca and MSD. In 2023, AstraZeneca licensed LM-305, a G-protein targeting-ADC, for $600 million. In 2024, MSD secured global rights to LM-299, an anti-PD-1/VEGF bispecific antibody, for more than $3 billion [1].

Sino Biopharmaceutical stated that the acquisition would "release the potential value of LaNova Medicines and comprehensively enhance [Sino’s] innovation capability" [1]. The company added that the transaction will help it advance towards its goal of becoming a world-class innovative pharmaceutical enterprise.

The deal underscores China's growing role in the global oncology market, with licensing deals between US and Chinese biopharma companies hitting record highs in 2024 [2]. Across big pharma, transactions rose 66% from $16.6 billion in 2023 to $41.5 billion in 2024, demonstrating that China remains a key source of pipeline candidates [2].

References:
[1] https://www.pharmaceutical-technology.com/news/sino-biopharma-spends-951m-to-acquire-china-based-lanova-medicines/
[2] https://finance.yahoo.com/news/sino-biopharma-spends-951m-acquire-154429325.html