DXY Group, China’s largest healthcare portal, received a $70 million investment from Tencent Holdings, a China internet and mobile phone services company; GC-Rise Pharma of Beijing closed a $15 million Series B financing from OrbiMed for its China in-licensing business; Eddingpharm paid $2.3 million for China rights to an Ablynx TNF treatment for rheumatoid arthritis; Zhejiang Huahai and Tianjin Pharma signed a framework agreement to jointly develop products for the US market; Hainan Sinotau Pharma gained China rights to a Navidea radiopharmaceutical; a Fosun subsidiary will collaborate with CleveXel Pharma of France to increase production of yeast-grown malaria drugs; BeiGene of Beijing signed up for CMO services from Boehringer Ingelheim’s new Shanghai biopharma facility; NovaBay’s wound cleanser, which will be distributed by China Pioneer, was cleared for China sale by the CFDA; and Tasly officially opened its North American headquarters in Maryland.
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