Northeast’s DCTY Deal Marks China’s First Domestic Biotech Acquisition Of '24

 
• By Dexter Jie Yan
  
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If closed successfully, the traditional producer of active pharmaceutical ingredients and generic drugs will scoop up the world’s second advanced KRAS G12D-targeting T-cell receptor (TCR) T cell therapy candidate, as well as an EGFR variant III-targeting chimeric antigen (CAR) receptor T-cell agent. Out-licensing efforts are already under way.

deals, partnerships and acquisitions
Northeast set to make China's first domestic biopharma acquisition this year • Source: Shutterstock

Amid widespread speculation about a pickup in acquisitions of struggling Chinese biotechs by their cash-rich compatriot drug makers, Northeast Pharmaceutical Group Co., Ltd., a traditional producer of active pharmaceutical ingredients and generic drugs, has emerged as an unlikely player to outpace China's well-funded major pharmas to cut the first buyout deal of 2024.

Key Takeaways

  • China's Northeast Pharmaceutical has reached a tentative buyout agreement with compatriot biotech Beijing DCTY, a little-known cell therapy developer.

On 6 August, Shenzhen-listed Northeast announced a framework agreement with Beijing DCTY Biotech, a little-known cell therapy developer, to take...

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