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Week in Review: Eddingpharm (Cayman) Inc. Buys ACT Biotech Assets For $95 Million


1/13/2014 8:50:25 AM

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by Richard Daverman, PhD

January 11, 2014 --Eddingpharm, a China drug in-licensing company, acquired rights for three cancer-targeting drug candidates from San Francisco-based ACT Biotech in a $95 million deal; MicroPort Scientific of Shanghai formed a $20 million JV with Italy’s Sorin Group to provide cardiac rhythm management devices in China; Kunshan RiboQuark Pharma, a siRNA joint venture formed by Suzhou Ribo Life Science and Quark Pharma of California, raised $7.5 million in a series A round; JHL Biotech, a Taiwan-China biotech, partnered with BioLineRx of Israel to develop a novel MAb that treats Type 1 diabetes; Bayer HealthCare and Peking University will collaborate on a three-year translational drug discovery project; an increasing share of biopharma R&D is taking place in Asia, moving away from the US; China revoked Johnson & Johnson’s trademark for its “OneTouch” diabetes glucose monitoring products; Adimmune of Taiwan completed a China Phase III trial of its trivalent flu vaccine; TaiGen Biotech of Taiwan will launch a novel antibiotic in China during the second half of 2014; and China will institute an official blacklisting system for life science companies that bribe government officials or provide substandard products. More details….

Stock Symbols: (HK: 00853) (MIL: SRN) (NSDQ: BLRX; TASE: BLRX) (NYSE: JNJ)

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Read at ChinaBio Today

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