by Richard Daverman, PhD
May 26, 2012 -- Zhejiang Hisun Pharma will invest $163 million for a 51% stake in its JV with Pfizer, implying a value of $319 million for the venture; Yantai Dongcheng Biochemicals completed a $110 million IPO on Shenzhen’s Small and Medium-Sized Enterprises Board; ASLAN Pharma of Singapore in-licensed global rights to a potential rheumatoid arthritis treatment from the Spanish pharma Almirall; Guangzhou Xiangxue Pharma gained China rights to a potential oncology drug developed by Kinex Pharma of the US; ChinaBio® and EBD Group, co-producers of the ChinaBio® Partnering Forum, held May 22-24 in Suzhou, announced that the fourth edition of the event attracted 719 attendees from 432 companies and 23 countries who engaged in more than 1100 one-to-one meetings; a team of China researchers has developed a new DNA vaccine that simultaneously protected against tuberculosis and HIV in animal tests; the stock price of Shanghai Pharma suffered large losses after media reports alleged the company has committed accounting fraud; Sanofi will begin a Phase I clinical trial in China next year of a novel drug that targets liver cancer that it in-licensed from SIBS for a reported $60 million upfront payment; and China now has more drug representatives than the US. More details….
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