Gan & Lee, China’s largest domestic maker of insulin products, will stage a $226 million IPO in Shanghai; Vivo Capital closed a $100 million early stage US-China healthcare VC fund, PANDA, that will encourage cross-border partnerships; China Life Insurance revived the takeover battle for China health clinic operator iKang with a $20+ per ADS bid; Shenzhen Hepalink Pharma will invest $60 million in TPG Biotechnology Partners V; Response Biomedical, a Vancouver-Shanghai IVD company, will be taken private by OrbiMed and Shanghai Runda Medical Technology, also an IVD maker; Innovent Biologics of Suzhou expanded its collaboration with Adimab, a US mAb discovery company; China issued details of a pilot program that allows drug companies and institutes to hold drug approvals without manufacturing them in-house; Humanwell Healthcare of Wuhan, an integrated China pharma, will spend $80 million to build a manufacturing facility in Ethiopia; and TaiGen Biotech of Taiwan received CFDA approval to market a novel antibiotic aimed at tuberculosis.
