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Week in Review: Boehringer Ingelheim to Build Biopharma CMO in Shanghai
Deals and Financings
Boehringer Ingelheim announced it will build a cGMP biopharma manufacturing facility in Shanghai’s Zhangjiang Hi-Tech Park in cooperation with Shanghai Zhangjiang Biotech and Pharmaceutical Base Development Co., Ltd. and funded with a joint investment up to 500 million RMB ($81 million) (see story). The facility will offer disposable cGMP biopharma manufacturing and development services to China and multinational pharmas. It is the first biopharma cGMP manufacturing facility in Asia for BI, and the first in China for any major multinational pharma.
The China Securities Regulatory Commission has terminated the IPO applications of fifteen China life science companies (see story). To restore confidence in the financial reports in companies that are going public, the CSRC is conducting a thorough review of all IPO filings. However, the agency has not disclosed any reasons for denying the IPO of any particular company.
Janssen Pharma and the National Taiwan University Hospital will co-develop new drugs for hepatitis B (see story). Janssen, the drug development subsidiary of Johnson & Johnson (NYSE: JNJ), will supply drug candidates to Pei-jer Chen, MD, a noted hepatitis B researcher at NTU College of Medicine. Dr. Chen will test how patients and the disease react to the compounds. The company expects to spend $7 million on the project in its first three years.
Genor Biopharma of Shanghai has agreed with BioCND, a Korean biosimilar CRO and consulting firm, to co-develop biosimilars of two popular monoclonal antibodies: Humira, an arthritis treatment, and Herceptin, a cancer drug (see story). BioCND will have marketing rights to the products in emerging countries, but not China. Genor was responsible for the original development of the two molecules.
China’s Center for Disease Control and Prevention will team up with The Center for Infection and Immunity (CII) of Columbia University to form the Joint Research Laboratory for Pathogen Discovery (see story). The laboratory will be housed in China’s CDCP. It will conduct surveillance, identify new infectious microbes, establish novel platforms for diagnostics, and develop drugs and vaccines to treat diseases in humans and animals. China will underwrite the project for five years.
Trials and Approvals
AngioLight, a cardiovascular medical device company located in Massachusetts, completed a successful initial animal study of its AngioLight™ System at Fu Wai Hospital in Beijing (see story). The AngioLight™ System is a novel near-infrared light system that measures the diameter of blood vessels via a minimally invasive catheter. The study was carried out by Medical Technologies Innovation Asia of Hong Kong. In February 2013, AngioLight and MTIA announced a strategic partnership. In return for an equity position in AngioLight, MTIA agreed to complete safety, animal and clinical studies of the device in China.
Forward-thinking industry executives converged upon Beijing last week for the ChinaBio® Partnering Forum, China’s premier life science partnering event (see story). Senior executives representing leading drug development and medtech companies from around the world attended the event, in search of opportunities to partner in China. The fifth annual event, held at the Shangri-La Hotel Beijing, was attended by over 750 life science delegates from 405 companies and 22 countries, who engaged in more than 1,070 one-to-one meetings. Sixty-five percent of attending companies were from China.