Did you know?

ChinaBio® Group is a consulting and advisory firm helping life science companies and investors achieve success in China. ChinaBio works with U.S., European and APAC companies and investors seeking partnerships, acquisitions, novel technologies and funding in China.  

Learn more >>

Free Newsletter

Have the latest stories on China's life science industry delivered to your inbox daily or weekly - free!

  Email address:
   

The Week in Review: Cross-Border Deals

publication date: Oct 10, 2009
 | 
author/source: Richard Daverman, PhD
Even though China’s week-long National Day celebration did its best to keep a lid on any China biopharma news last week, some stories managed to slip out, including three significant cross-border deals.

In the biggest-dollar transaction, GlaxoSmithKline (NYSE: GSK) announced the formation of a new JV with Jiangsu Walvax Biotech Company to develop and manufacture pediatric vaccines for the China market (see story). Initially, the JV will be funded with $65.6 million of capital, of which $32 million (65%) will come from GSK. The JV will begin operations by producing Priorix™, GSK’s pediatric vaccine for measles, mumps and rubella (MMR). The JV will build a new manufacturing facility, and it plans to extend its operations to include other pediatric vaccines over time.

Inviragen and SingVax have merged their vaccine development operations (see story). Both companies are working on vaccines for infectious diseases that plague emerging countries. Inviragen has offices in Madison, WI and Fort Collins, CO, while SingVax is located in Singapore. Besides establishing a cross-border company, the newly merged entity also raised $15 million in a Series A round from an international syndicate of investors.

NeoStem, Inc. (NYSE Amex: NBS) reported the SEC accepted its registration proposal to acquire China Biopharmaceutical Holdings (OTCBB: CHBP) in an all-stock transaction (see story). China Biopharma’s only asset is a 51% interest in Suzhou Erye Pharmaceutical Co., a generic drug manufacturer that in 2008 produced $50 million in revenues and net income of $8 million. The acquisition gives NeoStem a much-needed revenue stream, and it also establishes a China foothold for NeoStem. A large part of NeoStem’s future operations will be in China.

In other news, two China CROs announced their laboratory operations have been accredited by the Association for Assessment and Accreditation of Laboratory Animal Care (AAALAC). PharmaLegacy, a Shanghai CRO dedicated to preclinical pharmacology, received full AAALAC accreditation (see story). The company has special expertise in three major disease areas, bone/orthopedic research, inflammation/immune diseases, and oncology. PharmaLegacy has now completed its first year of operations, and it released data about its success so far.

Charles River Laboratories (NYSE: CRL) reported that its year-old Shanghai CRO facility has received three accreditations from organizations protecting the care of laboratory animals: the AAALAC, the Canadian Council on Animal Care (CCAC) and the Shanghai Laboratory Animal Commission (SLAC) (see story). Charles River’s CRO is a joint venture between Charles River and Shanghai BioExplorer, with Charles River being the majority partner.

Also, there was news of two approvals last week. Sinobiopharma, Inc. (OTCBB: SNBP) received a certificate for the use of Gabexate mesylate as a pharmaceutical raw material from the SFDA (see story). Gabexate mesylate is a serine proteinase inhibitor used therapeutically in the treatment of pancreatitis, disseminated intravascular coagulation (DIC), and as a regional anticoagulant for hemodialysis. We took advantage of the announcement to review Sinobiopharma's business plan.

In the medical device field, Ingen Technologies (OTCPK: IGNT) received a China patent for its Oxyview® products (see story). Oxyview is an oxygen flow meter that measures the oxygen being delivered by a supplemental oxygen product. Ingen claims its product improves accuracy and ease of use over the standard meter, which is located on the oxygen tank. Ingen’s product is placed close to the patient, as part of the line that delivers oxygen.

Disclosure: none.

 

Share this with colleagues:

 

ChinaBio® News

Greg Scott BIO-Europe Interview
Greg Scott Interviewed at BIO-Europe Spring

How to bring your China assets to China in 8 minutes


Greg Scott Mendelspod Interview
"Mr. Bio in China."
Mendelspod Interview

Multinational pharma held to a higher standard in China

Partner Event
November 2-3, 2023 | Shanghai
November 7-8, 2023 | Digital