Week In Review: China Pharma Financing Deals

CARsgen Therapeutics, a Shanghai company with two CAR-T immunotherapies in clinical trials, raised $30 million in venture capital; Adagene of Suzhou announced a $28 million Series B to develop its mono-specific and bi-specific antibodies; Fujian Thai Hot Investment is negotiating to acquire 52% of Alliance HealthCare Services, a US outsourced radiology company; China's Qiming Venture Partners is expected to close its fifth US dollar fund soon at $650 million; Joincare Pharma of Shenzhen will invest $30 million in Apricot Forest, a China mobile medical application company; Shanghai is floating a draft proposal to compensate angel investors for losses; and Athenex, a US-China cancer company, received FDA permission to start US clinical trials of its oral formulation of the chemotherapy docetaxel.