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The Food and Drug Administration (FDA) on Thursday approved BeiGene’s Brukinsa, a treatment for the rare blood cancer mantle cell lymphoma (MCL). The immunotherapy drug is approved for adult patients who have been treated with at least one other medicine.
From a business perspective, it’s big news for BeiGene—the China-based biotech that’s one of the pioneers in that country’s biopharma Renaissance. New stock exchange rules in Hong Kong have helped fledgling biotechs in China raise capital; BeiGene, for its part, had a nearly $160 million U.S. public offering in 2016 and then a $903 million secondary Hong Kong IPO in 2018.
American companies have taken notice. In October, Amgen took a 20.5% stake in BeiGene. It may be feeling good about that bet right about now.
Read on for the day’s news.