Week In Review: BGI Plans $250 Million Shenzhen IPO

BGI Genomics, the contract sequencing and diagnostics divisions of the giant China genomics sequencing company BGI, filed for a $250 million IPO on the Shenzhen Chi-Next exchange; Shandong Luoxin Pharma of Shanghai received a $301 million privatization offer from management and Ally Bridge Group; Fosun Pharma completed a $90 million acquisition of Breas Medical, a Swedish device company; Suzhou Ribo, a siRNA pharma, raised $39 million in a B round led by SDIC; vaccine maker Shenzhen Kangtai's stock price has risen 12-fold over six weeks following its modest $20 million Shenzhen IPO; Shanghai Newsummit in-licensed rights to a novel antibody targeting Hepatitis C virus from the UK's MRC Technology; Jiangsu Nhwa Pharma acquired China rights to an extended-release form anti-psychotic drug from Zysis of the UK; and Pfizer was CFDA approved to market a novel oral treatment for rheumatoid arthritis in China.