Daily Brief Health Care: GenScript Biotech, CDT Equity, Kyowa Kirin Co Ltd, Bio-Techne, Artemis Medicare Services, Genfleet Therapeutics, Baird Medical Investment Holdings, Acurx Pharmaceuticals , Taiko Pharmaceutical, Bio Techne Corp and more

• GenScript Biotech (1548 HK) is looking to raise up to US$300m from a primary placement. Proceeds are to be used for capacity expansion and platform infrastructure purposes.
• Genscript Biotech is a global life-science platform spanning research tools and services, biologics CDMO (ProBio) and industrial synthetic biology, with additional exposure to cell therapy through Legend Biotech.
• In this note, we will talk about the placement and run the deal through our ECM framework.

• CDT Equity Inc. is a data-driven biotech development company focused on identifying, enhancing, and advancing high-potential therapeutic assets through scientific innovation and strategic partnerships.
• The company successfully extended the patent life of certain drugs by up to 20 years.
• The company reported a net loss of $(8,704) for the six months ended June 30, 2026.

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• Kyowa Kirin Co Ltd (4151 JP) posted 14% revenue growth in 1H26. Core operating margin expands expanded on lower SG&A and R&D expense.
• Kyowa Kirin reiterated 2026 guidance. They expect revenue to be ¥520B and core operating profit to be ¥130B. Company expects to end the year with a core profit of ¥103B.
• Kyowa Kirin needs new drugs to augment growth. It remains highly dependent on Crysvita. Ziftomenib, infigratinib will drive revenue numbers in medium to long term.

• Bio-Techne Corporation is a premier pure-play life sciences tools and diagnostics provider, holding commanding market share in premium bioactive recombinant proteins, validated research antibodies, automated capillary electrophoresis, and spatial biology assays.
• Despite cyclical post-pandemic biopharma destocking and early-stage biotech funding headwinds, the company demonstrates exceptional structural resilience with consistent gross margins of 64% to 67% and robust cash generation, producing $1.39B to $1.47B in annual free cash flow over recent fiscal years.
• Long-term compounding value is underpinned by a high-margin recurring consumable revenue model, expanding cell and gene therapy bioprocessing exposure (ScaleReady/Wilson Wolf), and leadership in multi-omics spatial biology (ACD RNAscope and Lunaphore).

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• Gurugram remains the earnings engine, with occupancy improving to 65.7% and Tower IV offering 200+ additional beds for future growth. 
• Raipur has commenced operations, while South Delhi adds a 650+ bed asset-light opportunity, significantly expanding Artemis Medicare’s growth runway. 
• Q1 FY27 revenue grew 12.7% YoY, while PAT rose 48.3%, supported by stronger Gurugram margins, higher ARPOB and operating leverage

• First-in-Class vs. Best-in-Class Divergence: While Genfleet’s KRAS G12C inhibitor fulzerasib (Dupert®) secured first-to-market status in China in August 2024, its long-term commercial upside is capped by intense fast-follower competition from Jacobio/Allist’s glecirasib. However, Dupert® holds a clinical edge with a median PFS of 9.7 months compared to glecirasib’s 8.2 months, backed by the superior commercial commercialization muscle of Innovent Biologics.
• GFH375 (VS-7375) is the Real Value Driver: Genfleet’s oral KRAS G12D (ON/OFF) inhibitor represents a massive clinical leap. Backed by outstanding ESMO 2025 monotherapy data (41% ORR in heavily pretreated pancreatic cancer) and its out-licensing partnership with Verastem Oncology, the asset is entering registrational Phase III trials in China and registrational-directed Phase II TARGET-D trials globally, positioning it far ahead of domestic competitors.
• Strong Capital Runway Supported by Strategic Out-Licensing: Following its September 2025 IPO on the HKEX (2595.HK) and a major HK$ 471.78 million follow-on placement in July 2026, Genfleet’s cash pile stands at a robust RMB 1.78 billion. With a narrowed 1H26 net loss of RMB 220 million, the company has a secure 3-to-4-year financial runway, mitigating the cash-burn anxieties typical of commercial-stage Chinese biotechs.

• Baird Medical (NASDAQ: BDMD) is an established medical device company whose mission is to enhance patient outcomes through minimally invasive precision technology and advanced diagnostic solutions.
• The company is a global leader in microwave ablation treatment for thyroid tumors.
• The company eventually plans to expand this treatment to cover breast nodules, liver cancer and uterine fibroids.

• Acurx Pharmaceuticals, Inc. is a late-stage biopharmaceutical company developing a new class of small molecule antibiotics for difficult-to-treat Gram-positive bacterial infections.
• Acurx Pharmaceuticals, a late-stage biopharmaceutical company, received $9.2 million from sales under a Purchase Agreement and may receive up to $2.8 million additional gross proceeds.
• The auditor’s report includes an explanatory paragraph on the ability to continue as a going concern, and substantial additional capital is needed.

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Key points (machine generated)

• Daiko Pharmaceutical aims for sales of 7,200 million yen in FY 2026, a 12.5% increase.
• Operating profit is projected at 500 million yen (up 8.9%), while net profit is expected to decline by 40.4% to 550 million yen.
• The pharmaceutical sector is forecasted to grow with sales of 6,695 million yen, supported by brand investments and rising operating profit.

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• Bio-Techne Corporation reported mixed third-quarter fiscal 2026 results amid uneven end-market conditions.
• Total revenue declined 2% organically and on a reported basis to $311.4 million, affected by timing of large OEM commercial supply orders and purchases from two major cell therapy customers that received FDA Fast Track Designations.
• Excluding these timing effects, underlying organic growth was approximately 2%.