Adagene Inc has raised $150m in a series C financing round led by Sequoia Capital China, with New World TMT Ltd, AVIC Trust Co Ltd, King Star Capital, Gopher Asset Management Co Ltd and other investors.

Based in China, Adagene is an antibody discovery and development company.

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The company plans to use proceeds to move the development of new antibody therapeutics into human trials.

US-based Proteostasis Therapeutics Inc has issued shares of its common stock in an underwritten public offering to raise $50m.

The company plans to use the funds for working capital and general corporate needs.

Proteostasis appointed Leerink Partners LLC as joint book-running managers, and Goodwin Procter LLP as legal advisor for the transaction.

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Hua Medicine (Shanghai) Ltd has raised $117.4m in series D and series E financing rounds led by new and existing investors, including Blue Pool Capital Limited, GIC Private Limited, AVICT Global Holdings Limited, 6 Dimensions Capital, Adrian Cheng (via K11 Investments), Ping An Ventures, and Mirae Asset Financial Group.

Based in China, Hua Medicine is a clinical-stage drug development company.

Proceeds are planned to be used for conducting two phase III clinical trials and for the commercial launch of its type II diabetes drug Dorzagliatin (HMS5552) in China.

Aslan Pharmaceuticals Pte Ltd has filed a registration statement with the US Securities and Exchange Commission (SEC) for an initial public offering (IPO) of American Depositary Shares (ADSs) to raise $86.25m.

The underwriters will have an option to buy the ADSs to cover over-allotments, if any.

Based in Singapore, Aslan Pharmaceuticals is a biotechnology company focused on oncology.

The company plans to use proceeds for the clinical development of its product candidates including varlitinib, ASLAN003 and ASLAN004.

US-based biopharmaceutical company MacroGenics Inc has issued 4.5 million shares of its common stock in an underwritten public offering.

"Underwriters will have a 30-day option to buy an additional 675,000 shares."

Underwriters will have a 30-day option to buy an additional 675,000 shares.

The company intends to use resulting funds for general corporate purposes and working capital needs.

UK-based biopharmaceutical company Mereo Biopharma Group Plc has filed a registration statement with the US Securities and Exchange Commission (SEC) for a public offering of ordinary shares in the form of American Depositary Shares (ADSs).

The company simultaneously plans to issue ordinary shares in Europe in a private placement.

The company plans to use proceeds for the clinical development of BPS-804 for the treatment of osteogenesis imperfecta (OI) in adults and children, and BGS-649 for the treatment of hypothalamic hypothesis (HH) in obese men.

Part of funds raised will be used for the development and commercialisation of BCT-197.

US-based immuno-oncology company Surface Oncology Inc has filed a registration statement with the US Securities and Exchange Commission for an initial public offering (IPO) of shares to raise $75m.

Underwriters will be granted an option to buy additional shares.

The company intends to use proceeds for the clinical development of SRF231 and other product candidates, as well as for general corporate purposes.

The company has appointed Goldman Sachs & Co LLC, Cowen and Company, LLC and Evercore Group LLC as joint book runners, and Goodwin Procter LLP as legal advisor for the transaction.

Israeli pharmaceutical company Galmed Pharmaceuticals Ltd plans to issue securities to raise $150m.

The company plans to offer ordinary shares, subscription rights, preferred stock, debt securities, warrants and units, as part of the transaction.

Galmed will use resulting funds towards working capital, research and development, regulatory expenses, as well as acquisition of new technologies.

The company has appointed McDermott Will & Emery LLP as legal advisor for the transaction.