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Week in Review: Xynomic Signs $502 Million Deal for Boehringer's RAF Inhibitor
Deals and Financings
Xynomic Pharma, a US-Shanghai clinical-stage oncology drug developer, acquired exclusive global rights to a 2nd-generation RAF inhibitor from Boehringer Ingelheim (see story). Xynomic, which hopes BI 882370 will become a best-in-class drug, agreed to a $502 million package that includes upfront, milestone and royalty payments. Specific financial details were not disclosed. Formed in 2016 by US-China industry veterans, the company plans to in-license and develop oncology drug candidates for
Two China healthcare companies -- Tonghua Golden-Horse Pharma (SHZ: 000766) and Golden Meditech Holdings (HK: 0801) -- will submit bids in the second round of an auction to acquire I-MED Radiology, an Australian diagnostics service company (see story). The bidding is expected to top $765 million. With nearly 200 clinics across
Shanghai Fosun Pharma (SHA: 600196; HK: 2196) will pay up to $98 million to buy the 69% of Henlix Biotech it doesn't already own (see story). Henlix, founded by two US-biopharma veterans in 2010, is a Taiwan-San Francisco innovative biotech that is developing both biosimilars and novel drugs. It has at least four candidates that have either started clinical trials or filed for
Shanghai Fosun Pharma (SHA: 600196; HK: 2196) will pay $73 million to acquire Tridem Pharma SA, a French drug distributor with operations in 21 French-speaking African countries (see story). The company is said to be the third-largest drug distributor in its territories with 600 employees. Fosun positioned its latest acquisition as one that would expand its presence in Europe and
iPharma of Hong Kong in-licensed global rights from Boehringer Ingelheim to manufacture, develop, and commercialize BI 853520, a focal adhesion kinase inhibitor (FAKi) aimed at solid tumor cancers (see story). iPharma is a joint venture between i-Bridge Capital, a
Guangzhou Pharma may partner with Teva Pharma (NYSE: TEVA), the world's largest generic drugmaker, to form a JV that would bring the Israeli company's generics to
WuXi Biologics (HK: 2269), a Shanghai CRO/CMO, opened a joint laboratory with Pall Corporation, a filtration/purification specialist, to lower the cost of making monoclonal antibodies by improving continuous processing techniques (see story). The 3-year project aims to lower the cost of manufacturing mAbs significantly -- to $5/g. Initially, the companies will focus on continuous operation of individual processes. Ultimately, they will work on optimizing downstream processing development and production.
Trials and Approvals
Eye Tech Care SA, a French medical device company, received CFDA approval to begin marketing its EyeOP1® glaucoma treatment product in