Shanghai Pharma and FountainVest Partners, a China PE fund, submitted second-round bids for Cardinal China’s $1.5 billion drug distribution operations.
Deals and Financings
- Shanghai Pharma and FountainVest Partners, a China PE fund, submitted second-round bids for Cardinal China’s $1.5 billion drug distribution operations;
- China Biologic Products, a Beijing plasma company, will acquire an 80% interest in TianXinFu (Beijing) Medical Appliance in an all-stock deal worth $536 million;
- CASI Pharma raised $23.3 million in a private placement to support is US-China operations;
- Suzhou’s Innovent Biologics will use a Harbour Biomed’s H2L2 transgenic mouse platform to discover new mAbs, which will add to the company’s 13 mAbs already in development;
- Gentris®, a US genomic biomarkers company, signed a MOU to form a biomarker collaboration with the Shanghai Institutes of Preventative Medicine;
Government and Regulatory
- China’s State Council issued a directive aimed at speeding up China’s drug/device approval process, including using foreign trial data for approvals, most of which were previously announced;
Trials and Approvals
- Samsung BioLogics, a Korean biologic CMO, received US FDA approval to produce an antibody drug substance at its second biologics plant;
- Generon of Shanghai forged a Special Protocol Assessment with the US FDA for the design of a second Phase III trial of its lead candidate, a neutropenia candidate.
