December 8, 2007 -- Speaking at the ChinaBio® Investor Forum 2007 last week, Greg B. Scott, Executive Editor of ChinaBio® Today, pointed out that China biotech/health care investing grew 19% in Q3 to $50 million. That was less than the US pace, though it is on the upswing. Two of the fifteen young biomedical companies making presentations at the Forum were given “Most Promising” awards: PanAsia Bio of Shanghai and Chiral Quest of Suzhou. ShanghaiBio, which partnered with ChinaBio® in sponsoring the Forum, expects to make its IPO in the US next year. In drug news last week, the SFDA approved the arthritis drug Indaflex from AlphaRx, and an experimental HIV/AIDS vaccine began human testing in a Phase I trial, conducted at the Peking Union Medical College Hospital. China Biopharma announced plans to jettison its vaccine business because of shrinking margins, and Skystar Bio-Pharmaceutical opened an R&D center in Shanghai to discover new veterinary products. More details...
