Week In Review: Wuxi Biologics Raises $511 Million In Hong Kong IPO

Published: Jun 12, 2017

WuXi Biologics priced its Hong Kong IPO at the top of the range, raising $511 million and valuing the biologics operations of WuXi AppTec at $3 billion; SciClone Pharma, a China drug distributor, accepted a $605 million acquisition offer from a group of China investors; ShangPharma Innovation will contribute $15 million in support or CRO services to form a biopharma incubator collaboration with San Diego's Scripps Research Institute; PhiSkin, a Shanghai aesthetic medical clinical operator, raised $17 million in a Series B round; Qiming US Healthcare Fund led a $10 million Series A funding of Platelet BioGenesis, a Boston stem cell-platelets company; Chiesi Farmaceutici of Italy paid $6 million upfront for greater China rights to an immunosuppressive drug made by Denmark's Veloxis Pharma; the Jackson Laboratory, a US biomedical research institute, will expand into China by forming a clinical genomics collaboration in Wenzhou, China; Nanjing Legend Biotech posted very positive results from an early trial of its CAR-T treatment for multiple myeloma; South Korea's Celltrion said its Herceptin biosimilar replicated the data of the original drug in a US Phase III trial; and OrbusNeich, a global company headquartered in Hong Kong, launched two balloon catheters in the US.

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