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Lepu Medical Pays $23.3 Million for 13% Stake in Australia's Viralytics

publication date: Jan 8, 2018

Lepu Medical Technology (Beijing) acquired a 13% stake in Australia's Viralytics via a $23.3 million private placement of Viralytics' shares. Viralytics will use the funds for an Australian Phase III trial of CAVATAK, its oncolytic immunotherapy based on a common cold virus. Lepu has started China clinical trials of its own PD-1 and PD-L1 checkpoint inhibitors, a class of drugs that are expected to be effective adjuncts to CAVATAK. Besides pharmaceutical drugs, Lepu is involved in medical devices, healthcare services, and private hospitals. More details....

Stock Symbols: (SHZ: 300003) (ASX: VLA, OTC: VRACY)

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