Sino Biopharmaceutical has acquired the remaining 95% stake in Shanghai-based cancer drug developer LaNova Medicines in a deal valued at up to $951 million. LaNova, which had licensed multiple compounds to global pharmas including Merck and AstraZeneca, advances a pipeline featuring eight clinical-stage assets focused on tumor microenvironment-targeting antibodies, antibody-drug conjugates (ADCs), and bispecific T-cell engagers. Notably, Merck licensed LaNova’s PD-1xVEGF bispecific antibody LM-299 for $588 million upfront, while AstraZeneca licensed a GPRC5D ADC. The acquisition consolidates Sino Biopharm’s presence in innovative antibody therapeutics within China’s rapidly evolving biotech ecosystem.