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Week in Review: Fosun Ends $531 Million Deal with Sellas

publication date: Jul 5, 2014
 | 
author/source: Richard Daverman, PhD

Deals and Financings

Fosun Pharma (SHA: 600196; HK: 02196) ended its $531 million out-licensing deal with Sellas Clinicals Holding, a Greek-Swiss pharma (see story). The transaction gave Sellas ex-China rights to two major Fosun-developed drug programs, one for cancer, the other diabetes. According to the terms of the deal, Fosun was due $11 million in an upfront payment. To date, Sellas has paid only $2 million, even though Fosun made several requests for the remainder. 

The US-Based Orthopedics division of Shanghai’s MicroPort Scientific (HK: 0853) will partner with MB Innovations of Tennessee (see story). MBI will provide design and development expertise to MicroPort for several orthopedic products, initially focusing on instruments to aid MicroPort’s minimally-invasive hip surgery procedures. Additional programs are expected later. MicroPort, a Shanghai medical device maker, closed its $290 million acquisition of Wright Medical’s orthopedic reconstruction business earlier this year.

Transgene SA (PA: TNG), a French immunotherapy company, gave an update on its 50-50 joint venture with Tianjin Tasly Pharma (SHA: 600535), saying the JV currently has three drug candidates in pre-clinical development (see story). The JV, which was established in 2010, has the goal of developing biologic drugs for the China market, even though Tasly is a TCM drug company. The JV’s lead product is TG1050, an adenovirus-based targeted immunotherapy aimed at treating chronic hepatitis B.

Trials and Approvals

Uni-Bio Science Group (HK: 690) reported that its treatment for osteoporosis, Uni-PTH, produced a statistically significant improvement in bone mass during a Phase III clinical trial (see story). Uni-PTH is a once-daily innovative biologic drug for osteoporosis in post-menopausal women. Uni-Bio focuses on developing drugs from therapeutic peptides. Founded in 2001, the company has a China R&D center in Dongguan, plus manufacturing centers in Beijing and Shenzhen. 

The CFDA granted Fast Track designation to Jiangsu NHWA Pharma’s (SHE: 002262) in-licensed epilepsy treatment, DP-VPA (see story). DP-VPA combines a well-known generic drug for epilepsy, valproic acid (VPA), with a lipid coating to minimize side effects. In 2011, NHWA acquired exclusive China rights (including Hong Kong and Macau) to DP-VPA from D-Pharm (TASE: DPRM), an Israeli biopharma. 

Disclosure: none.


 

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