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Week in Review: $1.4 Billion in China Life Science Deals and Financings

21:47 EDT 15 Sep 2018 | ChinaBio Today

Deals and Financings

  • Vivo Capital closed its tenth US-China fund, a private equity healthcare fund, at an oversubscribed $635 million, bringing total assets under management to $2.2 billion;
  • Xynomic, a US-China clinical-stage oncology pharma, will complete a reverse merger with NASDAQ-listed Bison Capital that values Xynomic at $450 million;
  • Hua Medicine of Beijing priced its Hong Kong IPO at the low end of the range to raise $110 million at a valuation of $1.1 billion;
  • 111, Inc., a China retail online/offline pharmacy, completed a US IPO raising $100 million at a $1.1 billion market capitalization;
  • Tianjin Tasly Pharma out-licensed US marketing rights for its angina TCM, currently in US Phase III trials, to Arbor Pharma in a $50 million deal;
  • Zai Lab paid $15 million upfront to acquire greater China rights to Novocure's electric fields therapy for cancer;
  • Cadrock Pty of Australia raised $5 million from an unnamed China investor for clinical trials of a triple-antibiotic as a coronary artery disease treatment;
  • Shanghai Pharma signed a MOU with Russian biotech BIOCAD to form JVs that manufacture and develop BIOCAD's biologic/biosimilar drugs for China;

Trials and Approvals

  • Shanghai's CARsgen presented positive early clinical data of a first-in-class CAR-Claudin18.2 T cell trial in patients with pancreatic and gastric cancer;
  • Innovent Biologics of Suzhou announced that China's NMPA has approved an IND application for its anti-CD47 mAb in multiple tumor types;
  • Shanghai's EpimAb Biotherapeutics filed US and China INDs simultaneously for a bispecific antibody that targets EGFR and cMET receptors.

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