January 19, 2008 -- There were two items of broad significance and a host of company-specific announcements in China biopharma news last week. Of far-reaching importance: an as-yet unannounced plan for China to spend 11 billion RMB ($1.5 billion) to stimulate a native innovative drug sector, and the second installment in our coverage of proposed changes in the Chinese patent system. Company news included: Chengdu Tianyin Pharma completed a reverse merger; Sundia MediTech, a Shanghai-based CRO, closed a B series funding; a second CRO, Bridge Laboratories, completed an $18 million in a third round fund raising; Benda Pharma will seek to migrate from the OTC Bulletin Board to the AMEX; Access Pharma out-licensed the China rights to MuGard™, its oral mucositis product, to RHEI Pharma; China Biologic Products was awarded a provincial grant of 1.5 million RMB ($200,000) to upgrade its plasma production facilities; and we also reviewed the success of the ChinaBio® Investor Forum, put together in just six weeks at “China Speed.” More details...
