Tag: Patents
Hackathon success stories are rare, so the Applied Data Hackathon is doing things differently
What connects Zapier, GroupMe, CloudMine, Zaarly, LaunchRock, and Foodspotting? These successful startups were created during weekend hackathon events and, combined, have gone on to raise $51.4m in funding. However, when you search for “hackathon success stories,” you’ll see that these examples are somewhat rare. Partly that’s because the teams involved NYSE Owner Purchases Stake in tZERO
New York Stock Exchange's (NYSE) parent company Intercontinental Exchange Inc (ICE) announced the purchase of a stake in tokenized securities venue tZERO. (Read More)
Lepu Biopharma Co., Ltd. Successfully Listed on the Main Board of HKEX
The share price of the Company closed at HK$7.14 per H share, with an intra-day high of HK$7.34 per H share. A total of approximately 15.8 million H shares were traded, with an aggregate turnover of approximately HK$112 million.
Lepu Biopharma is listed on the main board of HKEX, with 126,876,000 H shares being offered globally, including 12,688,000 Hong Kong Offer Shares, 114,188,000 International Placing Shares. The net proceeds received are estimated at approximately HK$804.2 million from the Global Offering, after deduction of underwriting fees, commissions and other estimated expenses payable by the Company in connection with the Global Offering. The net proceeds are intended for funding the core products, funding the other key clinical-stage drug candidates and the key pre-clinical drug candidates, acquiring potential technologies and assets and expand our pipeline of drug candidates, including discovery of new drug candidates and business development activities and to fulfill the continuous payment obligation under the acquisition of HX008 from HanX, and general corporate purposes.
Lepu Biopharma has three synergistic core technology platforms around its pipeline specializing in ADC technology, antibody discovery and advanced process and analytical development. The company also advances the clinical development of its candidates including ADC candidates, oncolytic virus candidates and combination therapies, plans to stay focused on the development of innovative products, create a pipeline for novel therapies, design and develop innovative products and build advanced technology platforms.
While Lepu Biopharma advancing its drug candidates, it has mapped out and is implementing the manufacturing and commercialization strategies. Company commenced the operation of a 2,000L GMP-compliant antibody production line in Beijing in 2019 in support of clinical trials for the antibody products. It is building a production line for oncolytic virus drugs in Beijing with a designed capacity of 200L, as well as a biologics manufacturing center in Shanghai Biotech Park, including a production line with a designed capacity of 12,000L initially, coupled with laboratories and manufacturing facilities, and one production line with capacity of 6,000L under construction.
The Founder, Chairman and Executive Director of Lepu Biopharma Co., Ltd. Dr. Pu Zhongjie said, "Today, we are very delighted to witness Lepu Biopharma to be officially listed on the Hong Kong Stock Exchange. This is an important milestone in our history of development as well as a starting point of our new journey. We sincerely appreciated the long-term trust and cooperation from customers and shareholders. We would also like to thank our partners, the Hong Kong Stock Exchange and the Securities and Futures Commission for all the great support. With solid R&D capabilities, advanced development platforms and comprehensive pipeline, we will seize the future trend of the whole industry, strengthen our position in the market with our competitive advantages and create greater value for shareholders and investors."
About Lepu Biopharma Co., Ltd.
Lepu Biopharma was incorporated in 2018 and is a biopharmaceutical company focusing on oncology therapeutics. The Company has designed pipeline with a range of oncology products. As of [the Latest Practicable Date], the Company had pipeline including eight clinical-stage drug candidates, three pre-clinical drug candidates and three clinical-stage combination therapies of the candidates in the pipeline. In addition, the Company focus on the development of innovative drugs including ADC and oncolytic virus. According to Frost & Sullivan, the Company house the leading ADC drug candidate pipeline in China in terms of the number of clinical-stage ADC drug candidates. As of [the Latest Practicable Date], the Company had initiated 28 clinical trials, among which three had entered registration trial phase and two were ongoing in the U.S. In terms of patents, as of [the Latest Practicable Date], Company had 11 issued patents in China, 20 in the U.S., nine in Japan, seven in the European Union and one in each of South Korea, Australia, Chile, India, Colombia, Indonesia, New Zealand and Israel, and 74 pending patent applications, consisting of 15 in Mainland China and 59 in overseas jurisdictions such as the U.S., Japan, India, South Korea, Australia, Israel, India and the European Union. Patentportfolio of the Company spans across mAb structure, targeted epitope, CMC, usage, biopharmaceutical formulation and indications.
For more information on Lepu Biopharma, please visit the website https://www.lepubiopharma.com/
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comThe biopharmaceutical company focusing on oncology therapeutics - Lepu Biopharma Co., Ltd. ("Lepu Biopharma" or the "Company", stock code: 2157.HK), has successfully listed and commenced dealings on the Main Board of the Stock Exchange of Hong Kong Limited ("Hong Kong Stock Exchange") today
Australian Medical/Biotech ‘Patent Box’ Tax Legislation Revealed
On 10 February 2022, the Treasury Laws Amendment (Tax Concession for Australian Medical Innovations) Bill 2022 was introduced to the Australian parliament, and received its first and second readings in the House of Representatives. The Bill represents the fulfilment of an undertaking in the Federal Government’s 2021 budget to introduce a ‘patent box’ scheme to encourage innovation and commercialisation in the Australian medical and biotechnology sectors. A ‘patent box’ (the name refers either to an actual box on a form, or to a notional box into which a company allocates a proportion of its income) is a tax incentive scheme under which income that can be directly attributed to the commercialisation of patented technology (as distinct from other attributes, such as branding, know-how, or manufacturing capability) is taxed at a reduced rate.
Under the scheme established by the legislation, the minimum concessional tax rate is 17%, compared with the normal corporate tax rate of 30% for large companies, or 25% for small and medium enterprises (SMEs). However, the full benefit of the scheme is only available to the extent that R&D leading to development of a patented invention is conducted in Australia.
As the government had indicated in its original budget announcement, only medical and biotechnology inventions will be eligible for the patent box tax concession. In particular, a patent will be eligible if it is ‘linked’ to a therapeutic good included on the Australian Register of Therapeutic Goods (ARTG). This means that a product, which is covered wholly or in part by the claims of the patent, must be a therapeutic good (e.g. a pharmaceutical substance or medical device) that requires, and has received, marketing approval in Australia.
Interestingly, however, the patent relied upon as the basis for eligibility under the patent box scheme need not be an Australian patent. A patent will qualify under the scheme if it is an Australian standard patent (i.e. innovation patents are not eligible), a US utility patent, or a European patent granted under the European Patent Convention (EPC).
It was initially proposed that only patents having a priority date after the announcement would qualify. However, in further positive news, according to the Bill patents granted or issued after the date of the budget announcement (11 May 2021) will be eligible.
It is intended that the patent box concession will commence in the coming financial year, i.e. from 1 July 2022. However, for this to happen the legislation will need to be passed in both houses of parliament before federal election is called. It is widely anticipated that this will occur in early to mid April, shortly after the government hands down its budget on 29 March 2022. With no further sitting days scheduled prior to budget week, it could become a race against time to get the legislation through.
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