July 19, 2008 -- Zero2IPO released its Q2 review of China venture capital activity, showing sharp increases across-the-board in both funds raised and funds invested, though the Bio/healthcare sector declined year-over-year; Shanghai reported a new fund to offer financing to innovative companies; a Shanghai-based consortium expects to invest $145 million in companies in the near future; however, China’s contract manufacturing organizations are not having much success raising money; venture capitals reported they consider the quality of management to be just as important as the viability of a company’s product; Qiming made a $5 million investment into Shanghai-based CRO Tigermed; Veeda Clinical Research of India bought US-based CRO International Oncology Network; BMP Sunstone (NSDQ: BJGP) signed a letter of intent to acquire 75% of Zhangjiakou Shengda Pharmaceutical; the SFDA authorized the marketing of a Genesis Pharmaceuticals (OTCBB: GTEC) TCM drug for flu; and Abraxis BioScience (NSDQ: ABII) received SFDA approval for ABRAXANE® Paclitaxel. More details...
