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Week in Review: Eddingpharm (Cayman) Inc. In-Licenses China Rights to Bone Drug for $2.7 Million Upfront


10/21/2013 8:47:07 AM

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by Richard Daverman, PhD

October 19, 2013 --Eddingpharm in-licensed greater-China rights to a novel osteoporosis treatment from Ablynx, a Belgium biopharma, paying $2.7 million upfront, plus milestones and royalties; Dance Biopharm, a US biotech, will form a joint venture with Harmony Asset of Hong Kong to jointly develop Dance’s second-generation inhaled insulin; Miraculins, a Canadian maker of non-invasive diagnostic tests, signed a LOI to sell China rights for a diabetes test to China’s Cachet Pharma; WuXi PharmaTech reported that its Shanghai genomics clinical laboratory was certified by US Medicare/Medicaid Services, allowing WuXi to perform gene sequencing projects as part of a clinical trial; Mark Reilly, the former head of GlaxoSmithKline in China, is back in China cooperating with authorities, who have asked him not to leave the country; and CardioKinetix, a California medical device company, said two patients in China received the company’s catheter-based treatment for heart failure. More details….

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