Week In Review: Chi-Next Exchange Rejects BGI's $260 Million IPO Application

The Chi-Next Exchange rejected a $260 million IPO from BGI, Shenzhen's giant genomics sequencing company, because of insufficient documentation; TaiGen Biotech formed a $102 million Taiwan-China JV with YiChang HEC Pharma to develop a dual-drug antiviral hepatitis C treatment; Decheng Capital led a $12 million Series A investment in Cirina, a San Francisco diagnostics maker; DiaCarta, a San Francisco-Nanjing diagnostics company, received a $300,000 grant to validate its RadTox QuantiDNATM product to assess cancer radiation response; Medbanks, a Beijing oncology big data company, announced a strategic partnership with IMS Health; Fosun Pharma acquired China rights to an anti-MET monoclonal antibody developed by US-based Kolltan Pharma; Xbrane Biopharma of Sweden signed a $7.6 million term sheet with an unnamed China pharma for China distribution of a long-acting cancer drug; Merck of Germany officially opened its new $189 million Nantong drug plant and announced another $89 million investment in a nearby Life Science center; Pfizer received CFDA approval to market Prevenar 13®, a pneumococcal vaccine intended for infants; Suzhou Alphamab will start a China Phase I trial of a biologic treatment for infertility; and the CFDA will begin accepting priority review applications for medical devices in January 2017.