Week In Review: BeiGene Completes $158 Million IPO In The US

BeiGene, a Beijing clinical-stage novel drug company, raised $158.4 million in a well-received IPO on the NASDAQ exchange and climbed 41% higher in open market trading; Sinovac Biotech of Beijing received a privatization offer from management at $6.18 per share, valuing the company at $345 million; only a few days later, a consortium of outside investors and pharmas topped management's offer for Sinovac with a $7 per share bid and a $390 million valuation; Cellular Biomedicine, a US-China biopharma, announced a $43 million investment from Wuhan Dangdai Science & Technology Industries; Phagelux of Shanghai raised an undisclosed amount of capital from Fosun Pharma to develop its phage anti-bacterial technology; San Diego's Agena Bioscience will collaborate with Guangzhou DaRui Biotechnology to co-develop in vitro diagnostic tests for oncology and inherited diseases; and China is expected to soon announce a $9 billion investment in precision medicine that will combine genomic sequencing and clinical patient data.