Chinese player Shanghai Henlius Biotech has published unaudited financial results for the first three months of 2023, in the wake of its 2022 annual report.

Strides has agreed to partner with Orbicular to develop four nasal sprays targeting a combined market worth more than $400m for markets including Europe and the US.

The company is prioritizing investment in the launches of Leqembi, zuranolone and newly approved Qalsody as well as key pipeline assets, while discontinuing investment in two stroke programs.

Two bioventures in China have jettisoned immuno-oncology assets, including PD-1/L1- and CD47-targeting agents, while four other firms have disclosed shifts in R&D priorities and employee lay-offs as they deal with challenging conditions.