The Week in Review:Shanghai Kinetic Medical Raises $59 Million in ChiNext IPO

June 16, 2012 -- Shanghai Kinetic Medical, which makes orthopedic devices for the spine, raised $59 million in an IPO on the ChiNext Exchange; Eli Lilly invested an additional $20 million in Novast Labs of Nantong with the goal of developing a portfolio of branded generics for China; GE Healthcare formed a collaboration with BGI to investigate the potential utility of stem cell-derived assays; Wuhan Humanwell Healthcare paid $122 million to purchase an 80% stake in Beijing Baron Medical Equipment, China’s largest distributor of Roche’s in-vitro diagnostic products; Sinopharm will issue $1.3 billion of corporate bonds; ChinaBio® LLC announced that BioCentury will publish selected articles from ChinaBio® Today; Biostar Pharma will take responsibility for the clinical trials of a topical skin treatment developed by The Fourth Military Medical University; and Suzhou Pharma Services, a contract manufacturing company, opened a US corporate headquarters in New Jersey. More details….

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