Week In Review: Shenzhen's BGI Plans $250 Million China IPO To Support Genomics Operations

BGI, a major China genomic sequencing/diagnostic company, plans to stage a $250 million IPO on Shenzhen's Chi-Next Exchange in July; ShangPharma will complete a reverse merger of its Shanghai ChemPartner division (the company's CRO/CMO operations) with Quantum Hi-Tech China Biological; Sanovas, a Bay-Area medical device maker, announced a $75 million venture capital fund to invest in innovative device companies located in Suzhou's BioBay park; GlaxoSmithKline formed a big data partnership with Guangzhou Institute of Respiratory Diseases; Baheal Pharma of Qingdao will market IBM's Watson Health for Oncology treatment paradigm program to China clinicians; Chi-Med dosed the first patient in a China Phase I/II trial of HMPL-453, a FGFR inhibitor; and China agreed to ban the manufacture of four synthetic variations of the opioid fentanyl, following a US request.