Chinese pharmaceutical company Sino Biopharmaceutical announced the acquisition of the remaining 95% stake in cancer drug developer LaNova Medicines for up to $951 million. LaNova, based in Shanghai with an eight-clinical stage compound pipeline including bispecific antibodies and antibody-drug conjugates, counts partnerships with Merck and AstraZeneca among its key collaborations. The net deal payment is approximately $501 million after accounting for LaNova’s cash reserves. This acquisition aligns with growing domestic consolidation and innovation in China’s biopharma sector, accelerating development and commercialization of promising oncology assets.