December 25, 2010 -- The ChinaBio® Investor Forum–Guangzhou selected MingSight Pharmaceuticals and Cyagen Biosciences as the two “Most Promising” presenting companies; a $15 million VC fund will support transfer of biomedical projects from Israel to Tianjin; Hutchison MediPharma raised $7.7 million from Softbank’s Fund; Northeast Pharma will invest $750 million to build an antibiotic production facility; the NDRC is circulating a draft proposal to cut 658 drug prices by an average 40%; Taiwan and China will sign a bilateral pharmaceutical agreement that will speed approval of Taiwanese drugs in China; Xiangxue Pharma (SHEZ: 300147) plans to market a TCM treatment for Alzheimer’s disease within three years; and Gedeon Richter set up a 50/50 joint venture with its China marketing partner, Rxmidas Pharmaceuticals. More details….
