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Week in Review: Nearly $1 Billion in Cross-Border China Biopharma Deals
Deals and Financings
WeDoctor, Mason Group and Aldworth Management agreed to pay up to $510 million to acquire an 89.5% stake in Genea, an Australian fertility treatment company (see story). Genea's assisted reproductive technologies are used in more than 600 clinics across 60 countries. Earlier this year, the three-company consortium formed a Hong Kong IVF clinic called Reproductive Healthcare. Mason Group merged its Reproductive Healthcare subsidiary with The Women’s Clinic and brought in WeDoctor, an online China healthcare portal owned by Tencent (HK: 0700), and Aldworth Management as strategic investors.
Huadong Medicine (SHZ: 000963) has proposed a $210 million takeover of
Harbour BioMed completed an $85 million Series B financing, which it will use to advance its pipeline that includes both clinical and discovery stage programs (see story). GIC,
Jacobio Pharma, a
China Pioneer Pharma Holdings (HK: 1345), a medical device distributor, paid $33.2 million for a 15% stake in
Shenzhen Lachesis mHealth raised $29 million in a B Round led by GTLA to develop its smart healthcare and mobile health technologies (see story). The company's major product is the Intelligent Hospital Ward System, a medical device that includes a diagnosis and treatment assistant, wireless monitoring and other services to improve patient care. Lachesis's product targets the post-acute-care market in general hospitals.
RootPath Genomics, a
Ping An Good Doctor (HK: 1833), a healthcare app, formed a strategic partnership with Jointown Pharma (SHA: 600998), a combination of Good Doctor's online presence with Jointown's offline drug distribution network and retail pharmacies (see story). The two companies intend to consolidate their resources to establish an "internet + healthcare + medicine" service chain. They also plan to build Smart Pharmacies that include monitoring, smart consultation, electronic prescriptions, drug vending machines and electronic insurance payments.
Strategia Holdings of Boston partnered with JS InnoPharm (
Trials and Approvals
Beijing's BeiGene (NSDQ: BGNE; HKEX: 06160) reported the National Medical Products Administration of China (NMPA, formerly known as CFDA or CDA) has accepted the company's new drug application for tislelizumab, a PD-1 antibody, as a treatment for relapsed/refractory classical Hodgkin’s lymphoma (see story). In a pivotal Phase II trial, tislelizumab produced an 87% overall response rate and a 61% complete response rate at a median of eight months follow up.
CStone Pharma, a two-year old Shanghai-Suzhou biopharma, reported the CNDA approved its
CRO/CMO News
XingImaging, a US-China PET CRO, said it will provide neurological PET scans to support a Phase III trial of a proposed Essai (TYO: 4523) Alzheimer's therapy in
Disclosure: none.
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