Week in Review: China National Biotech Group Plans $1.6 Billion Hong Kong IPO

Published: Sep 10, 2012

by Richard Daverman, PhD

September 9, 2012 -- China National Biotec announced that its upcoming Hong Kong IPO, which now awaits only CSRC approval, will raise as much as $1.6 billion; Triplex International Biosciences, a Xiamen diagnostics company, received a $50 million capital infusion from private-equity firm RRJ Capital; The thirteenth ChinaBio® Investor Forum selected Optomed Oy from Finland and ASLAN Pharmaceuticals from Singapore as the “Most Promising” of the 18 presenting companies; WuXi PharmaTech will use Open Monoclonal Technology's OmniRat to develop therapeutic antibody candidates; liquidators found that China Medical Technologies, a previously high flying diagnostics company, has no assets; and Dainippon Sumitomo Pharma submitted an application to the SFDA for approval of amrubicin HCI, a treatment for small cell cancer. More details….

Stock Symbols: (NYSE: WX) (NSDQ: CMEDY)

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