Daily Brief Health Care: Hangzhou Kangji Medical Instrument Co., Ltd., Generation Bio , Olympus Corp, Artivion , Island Pharmaceuticals , Lantheus Holdings, MetaVia, Rani Therapeutics Holdings , SGX Rubber Future TSR20, Soligenix and more

• 6.95%. That’s the key number at yesterday’s Scheme Meeting for Hangzhou Kangji Medical Instrument Co., Ltd. (9997 HK).
• That’s still below the 10% blocking stake. But closer than the bankers and the market was anticipating. 
• Arguably, the terms were therefore bang on. Last day of trading is today, with payment on the 16th December.

• Generation Bio’s net cash is projected at $7.6/share, 50% above the current price, with limited ongoing cash burn.
• The company completed restructuring, retaining seven employees, and is considering liquidation, reverse merger, or sale options.
• Major shareholders include Atlas Venture Life Science (12.4%), T. Rowe Price (12.6%), Moderna (8.7%), Fidelity (6.9%), and BlackRock (5.1%).

• Olympus Corp (7733 JP) registered 20% QoQ rise in revenue to ¥247.8B in Q2FY26 while the adjusted operating profit witnessed 183% QoQ growth to ¥37.4B (margin expanded 870bps to 15.1%).
• The company reiterated full-year forecasts for FY26. The company expects revenue to be ¥998B, flat YoY (+3% after FX adjustment).
• Sequential improvement offers early green shoots. Moreover, decreasing “Elevate” program cost, product launches and venturing into endoluminal surgical robotics segment will slowly help propel growth in the near to midterm.

• Artivion is a niche leader in aortic repair, demonstrating strong revenue growth driven by its key product families: On-X mechanical heart valves, aortic stent grafts, and surgical sealants. The company is showing a clear trajectory towards sustained profitability, with recent quarters indicating positive net income and strong EBITDA margin expansion.
• The company’s growth strategy is centered on product innovation and market expansion, highlighted by the promising clinical data and U.S. launch of the AMDS Hybrid Prosthesis for acute aortic dissections. This, along with other pipeline products like Arcevo, is expected to unlock significant market opportunities and drive future growth.
• Despite its strong top-line performance, Artivion has a history of net losses and faces significant risks. These include intense competition from larger, better-resourced medical device companies, the inherent uncertainties of clinical trials and regulatory approvals, and potential operational disruptions such as the recently disclosed cybersecurity incident.

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• Island Pharmaceuticals Ltd (ASX:ILA) is an antiviral therapeutics company targeting infectious diseases.
• It is currently at clinical-stage and focused on two key antiviral assets – Galidesivir (a broad-spectrum RNA antiviral initially for Marburg) and ISLA-101 (a repurposed small-molecule drug initially for dengue).
• We like ILA’s approach of focusing on existing drugs that can be repurposed, as considerable time, effort and investment has already been spent, while also increasing the probability of success for approval.

• Lantheus is a leader in radiopharmaceutical offerings in oncology & precision diagnostics.
• It offers a portfolio of diagnostic & therapeutic products directly & via partnerships & licensing.
• The primary revenue driver is Pylarify, a PET tracer for PSMA-expressing prostate cancer.

• On November 6, 2025, MetaVia Inc. (MTVA) announced financial results for the third quarter of 2025 and provided a business update.
• We anticipate data from the 48 mg cohort from the Phase 1 trial of DA-1726, a dual GLP1/GCGR agonist, before the end of 2025.
• This cohort was added to evaluate the non-titrated maximum tolerated dose of DA-1726.

• Rani is a clinical-stage biotherapeutics company developing the ingestible robotic RaniPill (RP) that enables oral delivery of biologics & other large molecules.
• Its pipeline features clinical assets RT-102 (teriparatide for osteoporosis) & RT-111 (ustekinumab for psoriasis).
• Both programs have completed Ph1 trials characterizing safety tolerability & pharmacokinetics.

• Glove demand rebounds as inventories normalize  
• US tariffs boost Malaysian manufacturers’ market share  
• Automation drives efficiency, supporting margin recovery

• On November 7, 2025, Soligenix, Inc. (SNGX) announced financial results for the third quarter of 2025 and provided a business update.
• Recently, the Data Monitoring Committee (DMC) for the ongoing confirmatory Phase 3 clinical trial of HyBryte in the treatment of cutaneous T cell lymphoma (CTCL) concluded that there were no safety concerns and that HyBryte has an acceptable safety profile consistent with the safety data from all previous clinical studies.
• We anticipate an update on enrollment from the company in the fourth quarter of 2025 and a pre-specified blinded interim efficacy analysis in the first half of 2026.