Pfizer acquired China/Asia rights for Cresemba, an antifungal drug developed by Swiss pharma Basilea, in a $226M deal.
December 9, 2017
Deals and Financings
- Pfizer acquired China/Asia rights for Cresemba®, an antifungal drug developed by Swiss pharma Basilea, in a $226 million deal;
- Everest Medicines, a China startup backed by C-Bridge, formed a $224 million partnership with San Diego’s Arena Pharma to develop two Arena small molecule candidates in China/Asia;
- Genova Biotech raised $50 million in a funding led by Tasly Pharma to develop state-of-the-art diabetes products for China;
- Etong Healthcare of Shanghai, a company offering health exams, announced a $30 Million Series B funding, led by Vision Plus Capital of Hangzhou;
- MicuRx Pharma, a San Francisco-Shanghai company, closed a $15 million financing to complete a China Phase III trial of its oral antibiotic for MRSA;
- Shenzhen BioScien in-licensed China rights to an immunotherapeutic vaccine for prostate cancer from Generex of the US in a deal worth $5 million;
- Esaote, an Italian medical imaging company, was acquired by a group of China investors that included Alibaba and China medical device companies;
- Shenzhen’s BGI Genomics formed a partnership with California’s Sanguine BioSciences, a company that links patients with clinical trials;
Company News
- Wuxi Biologics completed construction of its $150 million 30,000 liter contract biomanufacturing facility in China;
- Johnson & Johnson Innovation will open a JLABS life science incubator in Shanghai’s Zhangjiang Hi-Tech Park, with space for 50 startup companies;
Trials and Approvals
- Bristol-Myers Squibb put an early stop to its China Phase III trial of PD-1 inhibitor Opdivo because of positive results;
- Xynomic Pharma, a China-US oncology pharma, will start a Phase I/II trial of its novel HDAC inhibitor Abexinostat, in combination with Janssen ‘s Imbruvica®, a first-in-class BTK inhibitor;
- BeyondSpring announced that China awarded “National Science and Technology Major Project” designation to Plinabulin, a cancer and neutropenia treatment.
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