Week In Review: BeiGene Co.,Ltd Raises $97 Million For Cancer Drugs

BeiGene of Beijing completed a $97 million funding to advance its portfolio of targeted cancer drugs and immuno-oncology therapies; JHL Biotech, a Taiwan-China biopharma, closed a Series C round of $45.6 million, the last funding before its IPO in Taiwan; Hutchison MediPharma will receive $18 million in milestones as part of Lilly's in-licensing of a novel VEGF inhibitor; Harbin Gloria Pharma in-licensed China rights to a novel anti-constipation drug from Sucampo of the US; WuXi PharmaTech reported 2015 Q1 earnings grew 23% from the year earlier to $180 million, though GAAP net income was flat at $18 million; SciClone Pharma reported first quarter revenues rose 26% and net income doubled; Neusoft Medical Systems of China launched its latest high-end CT scanner, the NeuViz 128 CT, in global markets; and Luye Pharma completed three US clinical studies of its investigational version of risperidone, an anti-psychotic.

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