Week in Review: Hainan Haiyo Invests $20 Million in VC Fund

Hainan Haiyao of China will take a 49% position in a $41 million pharma-focused China venture capital JV with a $20 million investment; Clinipace Worldwide, a US-based CRO, acquired Choice Pharma, which offers pan-Asian clinical CRO services; Applikon Biotech will officially open its new bioreactor manufacturing facility in Guangzhou; TaiGen Biotech received TaiWan marketing approval for Taigexyn®, a novel antibiotic aimed at community-acquired pneumonia; Roche has been donating 8 free vials of cancer drug Herceptin for every six vials bought by Jiangsu province, and Jiangsu then pays two-thirds of the remaining cost, making the drug more affordable; WuXi PharmaTech purchased a state-of-the-art Illumina genomic sequencer to produce $1,000 human genomes; and WuXi will also collaborate with Pacific Biomarkers, offering PBI’s biomarker assays to WuXi's clinical-stage clients. More details….