China-based Sino Biopharmaceutical has completed the acquisition of the remaining 95.09% stake in LaNova Medicines, valuing the deal at approximately $951 million, including the cash and deposits held by LaNova. LaNova has developed an extensive oncology pipeline including clinically advanced antibody-drug conjugates and bispecific antibodies, with partnerships with multinational companies like Merck and AstraZeneca. The acquisition consolidates Sino Biopharma's portfolio in tumor microenvironment targeted therapies and T-cell engagers and signifies growing consolidation and innovation within China’s biotech industry, particularly in antibody-based cancer therapies.