Deals and Financings
- OrbiMed closed its third Asia private equity fund with $551 million in capital commitments, bringing its three Asia funds to almost $1 billion in total;
- Innovent Biologics of Suzhou announced a $457 million deal to acquire global rights for an immuno-therapy candidate from the Chinese Academy of Sciences;
- 3SBio of Shenyang will pay $290 million for the biologic contract development and manufacturing operations of Toronto’s Therapure;
- Eight Roads, Fidelity Investment’s venture arm, launched a $250 million China Healthcare Fund, its first fund dedicated to China healthcare;
- WuXi NextCODE completed a Series B fundraising with $240 million in new capital for its genomics CRO operations;
- Sisram Medical, an Israeli subsidiary of Fosun Pharma that makes laser-based aesthetic devices, will stage a $200 million Hong Kong IPO;
- Beijing’s SinoVision Technologies raised $29 million in a B round to support its portfolio of CT scanners;
- Shanghai Sanyou Medical, an orthopedic medical device maker, closed a $14 million B round from Yingke Private Equity;
- China Medical Systems of Shenzhen will gain Asia rights (ex-Japan) to a MRSA candidate from Destiny Pharma, a British company;
- TPG Capital Asia acquired a majority stake in OPC Holding Company, a Taiwan company that provides clinical trial services in China and southeast Asia;
- Wuxi Fortune Pharma partnered with Andarix Pharma of Boston for China development of Tozaride, a radiolabeled cancer drug candidate;
Company News
- Lilly China notified its staff members that Lilly will close its five-year-old Shanghai R&D center, which has 200 employees, as part of a major company restructuring.
