The $68m raised by Createrna in a series A round was the biggest biotech financing deal backed by venture capital firms in China in September. Two other noteworthy fundings in the country involved cell therapy specialist Qihan Biotech and therapeutic cancer vaccine maker Neoantigen Therapeutics.

China biotechs appear increasingly interested in partnering with domestic counterparts amid signs the Chinese government's restrictive "COVID Zero" policies are likely to stay until well into 2023.

HanAll and Daewoong remain upbeat on dry eye candidate HL036 and are gearing up for a second Phase III US study despite the first missing its primary endpoint in just-released top-line results.

The US FDA has issued a complete response letter for KPI-121 but Kala hopes to resubmit the drug during the first half of next year backed by data from the ongoing STRIDE 3 study.