Week In Review: Shanghai United Imaging Raises $500 Million In Series A; Zai Lab Will IPO Next Week

Deals and Financings • Shanghai United Imaging Healthcare, which makes high-end medical imaging machines, closed a $500 million A financing at a $5 billion valuation; • Shanghai Fosun Pharma signed a $106 million deal with Palatin for China rights to a female sexual desire disorder treatment; • Harbour BioMed, a China-US biopharma, closed an $81 million agreement with Korea's HanAll Biopharma to develop two of HanAll's novel biologics in China; • Wellem raised $30 million in a Series B Round to expand its network of franchised private pediatric clinics in China; • Suzhou Basecare Medical Device closed a $15.3 million B financing for its assisted reproduction diagnostic products; • Ennovabio, a Shanghai pharma developing a brain cancer candidate, raised $10 million in a pre-A funding; • Spineology of St. Paul, Minnesota announced a $5 million investment from Hermed Capital of Shanghai for its novel spinal devices; • China Resources Holdings invested $4.6 million in Converd Company, a Hangzhou company developing oncolytic virus products; • Grid Therapeutics of Durham, North Carolina completed an A financing from Singapore's Longview to develop its cancer immunotherapy; • HitGen. the Chengdu-Houston lead-generation CRO, signed a deal to discover novel drug leads for Japan's Takeda Pharma.