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Week in Review: This Week's China Pharma Deals Top $1 Billion
Deals and Financings
Berry Genomics (SHZ: 000710), a
aTyr Pharma (NSDQ: LIFE), a San Diego-Hong Kong biotherapeutics company, announced a $45.8 million private placement (see story). The company will use the capital to advance its portfolio, which aims to treat rare immune-mediated diseases and cancer. In several Phase Ib/II trials, the company's lead drug, Resolaris, showed efficacy. aTyr says the drug "resets" the immune system without making patients susceptible to disease. The company's majority owned subsidiary, Pangu BioPharma, operates a research laboratory at the Hong Kong University of Science and Technology.
Akeso Biopharma, a Zhongshan antibody company, closed a $45 million B round, led by the GTJA Investment Group (see story). Founded in 2012, Akeso subjects its antibody candidates to 3D analysis simulations. It says the process improves the antibody's affinity for a target by a factor of up to 100 times. Two years ago, Merck/MSD agreed to a $200 million package of milestones in return for global rights to an Akeso immune checkpoint antibody. Akeso is currently developing 25 research projects involving drugs for oncology, inflammation, autoimmune and cardiovascular diseases.
Fosun Pharma (SHA: 600196; HK: 2196) continued to implement its acquisitive strategy by paying $40 million to acquire a 65% stake in Shanghai SinoMedCare Biotech, a company that specializes in medical marketing in tier 3 cities (see story). Fosun has the right to buy the remaining 35% of SinoMedCare in two tranches over the next six years. SinoMedCare, which has been supported by Vivo Ventures, focuses on providing sales and marketing in non-major
Distinct Healthcare of China closed a $40 million C funding round to support its chain of
Shuidi, a
Company News
Trials and Approvals
iCAD (NSDQ: ICAD), a New Hampshire medical device maker, announced CFDA approval of its Xoft Axxent balloon applicators, which are used in Brachytherapy treatment of breast cancer (see story). The devices allow a small radiation source to be placed in the cavity created during a lumpectomy. The low dose radiation affects tissue close to the source, while minimizing harm to more distant tissue. The CFDA approval allows iCAD to market its complete Xoft® Axxent® Electronic Brachytherapy (eBx®) System® as an intraoperative treatment in
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