Deals and Financings

Genor BioPharma (SHE: 300142), a Shanghai biologics drug company, may be sold to a strategic buyer before the end of the month, according to rumors (see story). Genor is a division of the Wison Group, a China conglomerate. There is further speculation that Yunnan Walvax Biotechnology will be the purchaser and that it plans to conduct an IPO for Genor on a US exchange.

Sinopharm (HK: 1099) and China NT Pharma (HK: 1011) will form a special purchase vehicle with capital of 200 million RMB ($33 million) (see story). The SPV will make acquisitions as a means of building a specialized vaccine and cold-chain drug distribution operation in the Shanghai area. China NT Pharma, like Sinopharm, is involved in drug distribution. Sinopharm will own 60% of the SPV and China NT will own the remaining 40%. 

CANbridge Life Sciences, a Beijing in-licensing firm, has secured the China rights to a cancer drug from Azaya Therapeutics of San Antonio, TX (see story). The drug, ATI-1123, is a liposomal formulation of docetaxel that has completed a Phase I trial in the US. CANbridge will fund clinical development of ATI-1123 for non-small cell lung cancer in China, Taiwan and Korea, collaborating with Azaya on clinical trial design. Financial details of the arrangement were not disclosed.

MicroConstants China, a Beijing area CRO, in-licensed the China rights to a liver cancer drug, PTX-9908, from Pertinax Therapeutics of Canada (see story). MicroConstants China will fund the clinical development of PTX-9908 in China. Pertinax will receive a royalty on sales of the product in China, as well as any future assignment or transfer of the rights, though specific details were not disclosed.

Stratpharma, a Swiss company focused on dermatology products, expanded its relationship with Luqa Pharmaceuticals, which is headquartered in Hong Kong (see story). Luqa is already responsible for China distribution of Stratpharma’s scar management gel, Strataderm. Luqa will now also distribute additional Stratpharma dermatological products in China, and it will have preferential China rights to Stratpharma's new products under development. Luqa will launch four Stratpharma products in the next three years.

Trials and Approvals

Ironwood Pharma (NSDQ: IRWD) and AstraZeneca (NYSE: AZN) began their China Phase III clinical trial of linaclotide for the treatment of irritable bowel syndrome with constipation (IBS-C) (see story). Last year, the two companies announced a $150 million pact ($25 million upfront; the remainder in sales milestones) to develop the product in China. Although the relationship was described as a joint relationship, AstraZeneca has primary administrative responsibility for China operations.

Ventana Medical Systems, a Roche (SX: ROG) subsidiary that supplies tissue-based tests for cancer analysis, received China approval for its ALK (D5F3) Rabbit Monoclonal Primary Antibody assay (see story). The ALK test is a companion diagnostic used to identify ALK-positive patients who will be candidates for Pfizer's (NYSE: PFE) cancer drug Xalkori (crizotinib). Xalkori is CFDA-approved to treat patients with non-small cell lung cancer.

Company News

BGI Tech Solutions Co., a subsidiary of the world's largest genomics research organization, BGI, will collaborate with the South Texas Accelerated Research Therapeutics (START) on a cancer genome study (see story). The study, the San Antonio 1000 Cancer Genome Project, will be the first to link cancer-related genetic alterations with their clinical outcomes. BGI and START expect their findings to help scientists discover targeted, personalized cancer treatments.

Two domestic China biopharmas were charged with bribing China doctors and government officials to increase sales of their products (see story). China’s official TV network, CCTV, made the accusations against Sino Biopharmaceutical (HK: 1177). Because of the wide-spread publicity, the price of the company’s Hong Kong-listed stock dropped as much as 25%. The company requested a trading halt when the shares were down 16%. The other company, Gan & Lee Pharma, is not publicly held, though it is planning to complete an IPO soon.

ASLAN Pharmaceuticals, a clinical-stage biopharma located in Singapore, was named as one of the Red Herring Top 100 Asia Award 2013 winners (see story). The list recognizes the most innovative and promising private companies in Asia. ASLAN was the only clinical stage life sciences company in Asia to receive the award this year.

DelMar Pharma (OTCQB: DMPI) and Guangxi Wuzhou Pharma have formed a China clinical advisory board to oversee trials of their cancer treatment, which is known as VAL-083 or "DAG for Injection" (see story). The drug is already approved in China for leukemia and lung cancer. The two companies are working together to gain China approval for VAL-083 as a treatment for glioblastoma multiforme, the most aggressive form of brain cancer, and global approval for all indications.

Disclosure: none.