Deals and Financings

aTyr Pharma, a San Diego-Hong Kong clinical stage biotherapeutics company, filed to conduct an $86 million IPO on the NASDAQ exchange (see story). The company develops Physiocrine-based therapeutics to address rare diseases. Its lead molecule, Resolaris, is currently in a Phase Ib/II trial in adult patients with facioscapulohumeral muscular dystrophy. Founded in 2005 by Paul Schimmel, PhD and Xiang-Lei Yang, PhD, the company has a Hong Kong subsidiary, Pangu BioPharma, which operates a laboratory at the Hong Kong University of Science and Technology. 

Ark Biosciences, a Shanghai startup that is less than two years old, completed a Series A financing, led by Qiming Venture Partners and Morningside Ventures with participation by TF Capital (see story). The size of the funding was not disclosed. Ark, which develops proprietary therapeutics for respiratory viral diseases and viral hepatitis, will use the money to fund clinical development of its leading RSV drug candidate, AK0529, along with several preclinical R&D programs targeting hepatitis B virus. AK0529 began a Phase I clinical trial in October 2014. 

Rock-One International of Hong Kong partnered with BioLight Life Sciences (TASE: BOLT; OTC: BLGTY), an Israeli medical device company, to commercialize BioLight devices for ophthalmology and oncology in China (see story). As part of the deal, Rock-One invested $6.2 million in BioLight, buying a 19% stake in the company, paying a 12% premium to the 30-day average closing price. In addition, the two companies will form a manufacturing JV, which will be financially supported entirely by Rock-One, to make BioLight devices in China for the China market. 

Trials and Approvals

Sihuan Pharma (HK: 0460) has begun a US-based Phase I clinical trial of pirotinib, a novel pan-HER inhibitor for patients with lung and gastric cancers (see story). Pirotinib, which is the first Sihuan product to be tested in the US, is a second-gen HER inhibitor whose preclinical studies showed unique profiles in pharmacology, pharmacokinetics and toxicology. The drug received CFDA approval to begin a China trial in 2013. 

Resverlogix Corp. (TSX: RVX) of Canada announced that its lead molecule, RVX-208, a first-in-class, small molecule treatment for cardiovascular disease, was granted two China patent approvals (see story). With the new IP protection, which extends to 2029, Resverlogix will seek to out-license China rights for the clinical stage drug candidate and will present at next week's ChinaBio® Partnering Forum in Shanghai. According to Resverlogix, RVX-208, a BET bromodomain inhibitor, works by transporting plaque from the blood stream to the liver, where it is eliminated from the body. Resverlogix has completed two Phase IIb trials of RVX-208. 

Cytori Therapeutics (NSDQ: CYTX) of San Diego, together with its China-Asia licensee, Lorem Vascular, received CFDA regulatory clearance to market the Cytori Celution® System, a device that processes stem cells from adipose tissue (see story). The companies did not specify an indication for the device, though it has been in trials elsewhere as a treatment for heart failure, scleroderma and osteoarthritis along with aesthetic uses. In 2013, Lorem signed a $531 million, 30-year deal to in-license rights for the system in China, Hong Kong, Malaysia, Singapore and Australia. 

Company News

Tonghua Dongbao Pharma (SHA: 600867) announced plans to spend $59 million to build a new plant to manufacture insulin API and insulin products (see story). Although China's insulin market is dominated by western pharmas, Dongbao was the largest domestic producer with a 16% share in 2012 (Novo Nordisk took 60%). Dongbao makes insulin APIs, prefilled syringes and insulin pen-cartridges. 

Disclosure: none.