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Week in Review: Cellular Biomedicine of China to Reverse Merger in US
Cellular Biomedicine Group (CBMG), a China-based regenerative medicine company, will conduct a reverse merger with EastBridge Investment Group (OTCQB: EBIG) (see story). EastBridge is a
Guangzhou BeBetter Medicine Technology has signed a collaborative research agreement with
Tianjin KingYork Group Co. and Innovata HK Limited of Hong Kong have gotten together to form a JV, which will be located in Tianjin Economic-Technological Development Area (TEDA) (see story). The new company, which will be known as Tianjin Kinnovata Pharmaceutical Company Limited, will produce powder inhalation drugs for asthma and COPD. The JV has been funded with 60 million RMB ($9.6 million) initially. Over the longer term, the partners plan to invest 1.2 billion RMB ($190 million) in the project.
Sichuan Kelun Pharma (SHE: 002422) will spend $135 million to purchase a 12.3% stake in Lijun International Pharma (HK: 2005) (see story). Both companies are involved in the IV drug market in