WuXi AppTec, China’s largest CRO/CMO, secured a five-year $1.5 billion line of credit from Ping An Bank, which will be invested to develop China healthcare offerings; China Medical System Holdings will pay $500 million for rights to two AstraZeneca cardiovascular drugs; Fosun Pharma is raising capital by issuing $471 million in new bonds; Gloria Pharma of Harbin will invest $40 million in Proteus Digital Health, a US remote patient monitoring device company; Yuhan of South Korea formed a JV with San Diego’s Sorrento Therapeutics to develop several Sorrento immune checkpoint antibodies; 3DMed, a Shanghai biotech, and Suzhou’s Alphamab will join forces to develop a PD-L1 immuno-oncology drug discovered by Alphamab; WuXi AppTec’s SynTheAll drug manufacturing subsidiary began operations last month in its new Changzhou facility; and Hutchison China MediPharma began a China Phase II trial of sulfatinib in patients with thyroid cancer.
