Nanjing Xinjiekou Department Store made an unsolicited $966 million offer to buy China Cord Blood, topping a $771 million offer from major owner, Golden Meditech; Sanjiu Medical & Pharma will pay $209 million to acquire Zhejiang Zhongyi Pharma; Mevion Medical, a Massachusetts proton therapy company, raised $200 million in a China-led financing; Cold Genesys of Los Angeles announced a $10 million Series B round from two China-affiliated firms to develop cancer drugs; Sorrento Therapeutics of San Diego in-licensed four mAbs from Mabtech, a China biopharma holding company; San Diego-based ResMed acquired fellow sleep-disorder company Curative Medical of Suzhou; Luye Pharma will invest in Singapore's Vela Diagnostics; the CFDA proposed new drug approval rules to insure safer drugs and faster approvals; Beijing's BeiGene was given CFDA approval to conduct China Phase I clinical trials of a novel cancer drug; India plans to house 50 China pharmas in Pharma City near Hyderabad; and Jun Wang, former CEO of Shenzhen's BGI, wants to use artificial intelligence on 100 million human genomes to advance human health.
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