Sino Biopharm acquires majority stake in China’s LaNova Medicines for up to $951 million

Sino Biopharmaceutical announced an agreement to acquire the remaining approximately 95% stake in LaNova Medicines, a Shanghai-based cancer biotech known for PD-1xVEGF bispecific antibodies and ADCs, for up to $951 million. LaNova's pipeline includes eight clinical-stage compounds, with licensed partnerships involving Merck and AstraZeneca. The deal follows Sino Biopharm’s 4.91% equity investment last year and positions LaNova as a wholly owned subsidiary, further consolidating Sino Biopharm’s portfolio in tumor microenvironment-targeted and antibody-based therapies.