The Week in Review: Golden Meditech Raises $40 Million
publication date: Aug 28, 2010
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author/source: Richard Daverman, PhD
Golden Meditech Holdings (HKEX: 801) raised $40 million in private equity for its medical device business, which centers on autologous blood recovery systems (see story). The capital will fund a joint venture established earlier this year between Fenwal of the US and Golden Meditech’s subsidiary, Beijing Jingjing Medical Equipment Co., adding production lines.
Boehringer Ingelheim held the formal opening of its Center of Competence (CoC) in Shanghai, a $12.7 million facility dedicated to optimizing APIs and chemical intermediates sourced from China (see story). The CoC is one part of BI’s $127 million expansion project in China, announced last year. The company is also expanding its manufacturing plant in Shanghai Zhangjiang High-Tech Park.
3SBio Inc. (NSDQ: SSRX) in-licensed the China rights to voclosporin, a calcineurin inhibitor, from Isotechnika Pharma (TSX: ISA), a Canadian biopharma (see story). 3SBio will develop the drug to prevent organ rejection following transplant and as a treatment for autoimmune diseases. 3SBio paid $1.5 million in cash and will also make a $4.5 million investment in Isotechnika 3-year convertible debentures.
China PharmaHub (OTCBB: WRLC) signed an exclusive agreement allowing the company to distribute radioactive glass spheres to treat liver cancer (see story). The agreement covers China and several other countries in Southeast Asia. PharmaHub said the technology is similar to one approved by the FDA in the US, presumably TheraSphere.
A hepatitis E vaccine developed by Xiamen Innovax Biotech was effective in a large-scale Phase III trial, according to data published in The Lancet (see story). The trial enrolled more than 112,000 people between the ages of 16 and 65. Further studies are needed to determine the vaccine's safety in pregnant women and the duration of its efficacy.
Lotus Pharmaceuticals (OTCBB: LTUS) has begun a Phase I trial of R-Bambuterol®, an asthma treatment (see story). The company said preclinical studies of R-Bambuterol showed efficacy but lower toxicity than Bambuterol, which can cause liver and cardiovascular side effects. Bambuterol is already commercially available in China.
Aoxing Pharmaceutical (NYSE Amex: AXN) has been given SFDA approval to begin a clinical trial of buprenorphine/naloxone sublingual tablets as a maintenance therapy for opioid addiction (see story). Aoxing plans to start the trial of the therapy, which is not yet available in China, later this year. The test will be completed in mid-2011 and, if all goes well, it will launch in mid-2012.
Disclosure: none.
Boehringer Ingelheim held the formal opening of its Center of Competence (CoC) in Shanghai, a $12.7 million facility dedicated to optimizing APIs and chemical intermediates sourced from China (see story). The CoC is one part of BI’s $127 million expansion project in China, announced last year. The company is also expanding its manufacturing plant in Shanghai Zhangjiang High-Tech Park.
3SBio Inc. (NSDQ: SSRX) in-licensed the China rights to voclosporin, a calcineurin inhibitor, from Isotechnika Pharma (TSX: ISA), a Canadian biopharma (see story). 3SBio will develop the drug to prevent organ rejection following transplant and as a treatment for autoimmune diseases. 3SBio paid $1.5 million in cash and will also make a $4.5 million investment in Isotechnika 3-year convertible debentures.
China PharmaHub (OTCBB: WRLC) signed an exclusive agreement allowing the company to distribute radioactive glass spheres to treat liver cancer (see story). The agreement covers China and several other countries in Southeast Asia. PharmaHub said the technology is similar to one approved by the FDA in the US, presumably TheraSphere.
A hepatitis E vaccine developed by Xiamen Innovax Biotech was effective in a large-scale Phase III trial, according to data published in The Lancet (see story). The trial enrolled more than 112,000 people between the ages of 16 and 65. Further studies are needed to determine the vaccine's safety in pregnant women and the duration of its efficacy.
Lotus Pharmaceuticals (OTCBB: LTUS) has begun a Phase I trial of R-Bambuterol®, an asthma treatment (see story). The company said preclinical studies of R-Bambuterol showed efficacy but lower toxicity than Bambuterol, which can cause liver and cardiovascular side effects. Bambuterol is already commercially available in China.
Aoxing Pharmaceutical (NYSE Amex: AXN) has been given SFDA approval to begin a clinical trial of buprenorphine/naloxone sublingual tablets as a maintenance therapy for opioid addiction (see story). Aoxing plans to start the trial of the therapy, which is not yet available in China, later this year. The test will be completed in mid-2011 and, if all goes well, it will launch in mid-2012.
Disclosure: none.
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