Sorrento Therapeutics, a San Diego-China biopharma, closed a $150 million private placement led by Hong Kong’s Ally Bridge Group; Yunfeng Capital, backed by Alibaba’s Jack Ma, has apparently won the $1.6 billion takeover battle for China clinic operator iKang Healthcare; Innovent Biologics of Suzhou announced a $120 million bispecifics discovery partnership with EpimAb, a Shanghai subsidiary of Adimab; 3SBio of Shenyang formed a $10 million joint venture with Sorrento Therapeutics to develop CAR-T drugs in China; Applied StemCell, a Bay-area gene-editing company, raised $19 million in a Series D funding from China investors; Parkway Pantai of Singapore announced plans to build a $70 million, 450-bed private hospital in Shanghai; Israel’s Galmed Pharma included a China arm in its Phase IIb trial of aramchol, a liver disease treatment; and Nanjing Frontier Biotechnologies reported its long-acting HIV-1 inhibitor met the primary endpoint in a Phase III trial.
