Deals and Financings

China’s Lifetech Scientific (HK: 1302) expanded its relationship with US medical device maker Medtronic (NYSE: MDT) by agreeing to develop a portfolio of pacemaker and cardiac lead products for the China market, using technology supplied by Medtronic (see story). Medtronic will have the option to partner with Lifetech on commercialization of the products. In 2012, Medtronic invested $76.1 million to acquire a 26.4% stake in Lifetech.

Gilead Sciences (NSDQ: GILD) will allow China and Indian drugmakers to start developing generic formulations of a promising novel HIV/HBV drug, even though the drug’s Phase III tests are still underway (see story). The drug, tenofovir alafenamide, is a prodrug of the well-known antiretroviral HIV treatment Viread (tenofovir), which is also a Gilead product. China/Indian generic pharmas will be able to market TAF in 112 developing countries – countries that are home to more than 90% of the world’s HIV patients.

Hangzhou Tigermed (SHE: 300347), a clinical-stage CRO, completed its $50 million acquisition of a 70% stake in Frontage Labs, following regulatory approval (see story). Frontage, which is headquartered in Pennsylvania and has a lab in Shanghai’s Zhangjiang Hi-Tech Park, is a complementary fit for Tigermed because it offers bioanalysis, preclinical studies, early-stage clinical studies and product development services, as well as a well-established presence in the US. The acquisition was originally announced in May 2014.

Fosun Pharma (SHA: 600196; HK: 2196) acquired a 37% stake in miacom diagnostics GmbH of Germany in early July for an undisclosed sum. Two weeks later, Fosun Diagnostics announced it would market miacom’s molecular beacon-based diagnostic assays in China and Asia (see story). The proprietary multiplex assays are used to detect sepsis- and pneumonia-related pathogens. In addition, Fosun will build an FDA-compliant production facility to manufacture the assays in China for domestic and export markets.

Cold Genesys, a California clinical-stage biopharma that is developing a cancer immunotherapy, raised $13.8 million in a Series A financing from Ally Bridge Group (see story). Ally Bridge is a Hong Kong-US investing firm focused on life science (see story). CGI will use the money to complete a Phase II/III trial of CG0070, an engineered oncolytic virus, which is being tested in patients with high-risk carcinoma in situ non-muscle invasive bladder cancer.

CANbridge Life Sciences of Beijing in-licensed China rights to a treatment for oral mucositis from EUSA Pharma (NSDQ: JAZZ), a subsidiary of Jazz Pharma (see story). The product, Caphosol®, is an oral rinse that treats oral mucositis, a condition caused by radiation or high-dose chemotherapy. Because Caphosol is a rinse, it is classified as a medical device, though the solution is not harmful if swallowed. Caphosol is approved for use in the US and Europe.

Company News

Sotio, a Czech biotech, has opened a Beijing lab from which it will produce DCVAC, the company’s autologous cellular immunotherapy for cancer (see story). At the outset, Sotio will make products for patients with prostate cancer, who will be enrolled in the company’s global Phase III clinical trial. Sotio’s technology is built on using a person’s dendritic cells, activated by tumor antigens, to treat cancer and autoimmune diseases. The company already has a lab in Prague.

SGS Life Science Services, a Swiss company that offers contract research and analytical lab services, will expand its Shanghai lab in response to its clients’ need for GLP services (see story). Overall, SGS will increase the lab space from 1500 square meters to 2000 square meters. The expansion will begin in August and be completed in the first half of 2015. Globally, SGS has 21 laboratories offering contract analytical and bioanalytical services to pharmas and biopharmas.

Disclosure: none.