Week In Review: BGI Genomics Completes $81 Million Chi-Next IPO

Published: Jul 17, 2017

Deals and Financings

-BGI Genomics completed a $81 million IPO on the Chi-Next exchange, surging 44% to the upper limit in first-day trading;

-Shanghai Fosun Pharma will invest $73.5 million over nine years in a global innovative technology incubator;

-ShangPharma Innovation, Inc. will collaborate with the University of California San Francisco by providing UCSF scientists with funding and other support for life science discoveries;

-Imsight Medical, a Shenzhen-Hong Kong start-up, raised $3 million to develop an AI-assisted medical imaging analysis program;

-Laekna, a China biotech, acquired global rights from Novartis for a prostate cancer treatment;

-Novogene, a Beijing genomics services company, partnered with San Diego's Trovagene to validate Trovagene's urine collection and nucleic acid preservation device in China;

Company News

-Cochlear, an Australian cochlear implant company, announced plans to build a $37 million manufacturing facility in Chengdu;

Trials and Approvals

-Canada's Resverlogix and China's Hepalink have begun a Phase III trial in Taiwan of their partnered drug, apabetalone, in patients with cardiovascular disease and type 2 diabetes.

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