ChinaBio(R) LLC Release: The Week in Review: Fundings for China-Affiliated Drug Companies
8/12/2013 9:16:38 AM
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by Richard Daverman, PhD
August 10, 2013 --Shenogen Pharma of Beijing raised $20 million in a Series C funding to support a Phase II trial of icaritin, an anti-cancer drug candidate; Apexigen, a California drug developer with strong connections to several China pharmas, completed a $20 million Series A1 financing; Zhongyuan Union Stem Cell Bioengineering formed a stem cell JV with Cell Therapy Ltd. of Wales; Sinopharm will gather its biotech operations into a large complex to be built in Wuhan East Lake High-tech Zone; ScinoPharm, a Taiwan CRO with expertise in process development, formed a strategic alliance with Sundia MediTech, a Shanghai CRO; Mitsubishi Tanabe Pharma will spend $19.5 million to build a new China production facility in Tianjin; Komtur Pharma, a German clinical trial sourcing company, set up a China JV with HengHeKangJian Pharma; Allium Medical of Israel signed up Beijing King Health Investment to distribute the company's urinary tract stents in China; a cross-border JV consisting of Zoetis and Jilin Guoyuan Animal Health received marketing approval in China for a new swine vaccine; and a whistleblower accused Sanofi of paying China doctors kickbacks to prescribe its blood pressure drugs. More details…
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