Industry Insights - The China venture capital explosion hit record levels in 2017’s first half: China life science venture/private equity funds closed $20 billion in new funds during 2016 and are on track to raise $30 billion this year; Company News - GlaxoSmithKline will shut down its Shanghai neurological R&D operations in Zhangjiang Hi-Tech Park as part of a larger corporate reorganization; - Shanghai Fosun Pharma’s $1.3 billion acquisition of India’s Gland Pharma may be rejected by India because of China-India political tensions; - WuXi AppTech will merge its Pharmaceutical Development Services division into STA Pharma, a WuXi listed CRO/CMO services subsidiary; Company Spotlight Hutchison China MediTech (Chi-Med) provided a broad portfolio overview of its clinical activity: eight small-molecule candidates in 31 clinical trials; Trials and Approvals ViroMed of South Korea began dosing patients in a US Phase III trial of VM202, a gene therapy drug, in patients with non-healing diabetic foot ulcers.
