On May 19, 2021 BioRay Pharmaceutical, a Taizhou biotech, reported that in-licensed rights to pritumumab, a potential treatment for brain cancer, from Nascent Biotech of San Diego (Press release, Shanghai Bioray Laboratory, MAY 19, 2021, View Source [SID1234580461]). BioRay will pay up to $5 million for global pritumumab rights except for North America and Central America. Pritumumab is a natural human antibody that binds to vimentin, a protein expressed on the surface of epithelial cancers but not healthy cells. BioRay is the biologics subsidiary of China’s Hisun Pharma. In 2019, PAG, a Hong Kong private equity firm, paid $540 million to acquire a 58% stake in BioRay.

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