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The Burrill Report interviews Greg Scott on WuXi/CRL breakup and China's hot IPOs

Greg Scott joined Foley's Eye on China webinar on life science innovation
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VC fundings, mergers and acquisitions, and other financing events...

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Fosun Completes Half of $30 Million Investment in Chindex Aug 30, 2010: Chindex International said Fosun Pharmaceutical has purchased 933,022 of its shares at $15 per share. The investment is part of a previously announced transaction that will establish a medical device JV between the two companies. Chindex is spinning off its medical device manufacturing and distribution business into the JV, which will be owned 51% by Fosun. More details....

Stock Symbols: (NSDQ: CHDX) (SHEX: 600196)

China PharmaHub to Distribute Liver Cancer Treatment Aug 27, 2010: China PharmaHub Corp. signed an exclusive agreement allowing the company to distribute radioactive glass spheres to treat liver cancer. The agreement covers China and several other countries in Southeast Asia. PharmaHub said the technology is similar to one approved by the FDA in the US, presumably TheraSphere. More details....

Stock Symbol: (OTCBB: WRLC)

3SBio Buys China Rights to Kidney Transplant Drug Aug 25, 2010: 3SBio Inc. in-licensed the China rights to voclosporin, a calcineurin inhibitor, from Isotechnika Pharma, a Canadian biopharma. 3SBio will develop the drug to prevent organ rejection following transplant and as a treatment for autoimmune diseases. 3SBio paid $1.5 million in cash and will also make a $4.5 million investment in Isotechnika 3-year convertible debentures. More details....

Stock Symbols: (NSDQ: SSRX) (TSX: ISA)

Golden Meditech Raises $40 Million for Medical Device JV Aug 23, 2010: Golden Meditech Holdings Limited raised $40 million in private equity for its medical device business, which centers on autologous blood recovery systems. The capital will fund a joint venture established earlier this year between Fenwal Inc. and Golden Meditech’s subsidiary, Beijing Jingjing Medical Equipment Co., Ltd. The JV will add production lines with the new capital. More details....
Stock Symbols: (HKEX: 801)

Tongjitang Chinese Medicines Buyout Update Aug 19, 2010: Tongjitang Chinese Medicines Company reported that it is still considering the buyout offer from a JV comprised of its Chairman/CEO and Fosun Industrial, the Hong Kong conglomerate. The JV offered $4.50 per ADS on April 8, 2010 for every share its members do not already own. Mr. Xiaochun Wang, Tongjitang’s Chairman and CEO, now has a 51% stake in the company and Fosun owns an additional 32%. Tongjitang is currently trading hands at around $3.50 per share, a 22% discount to the current offer. More details....

Stock Symbol: (NYSE: TCM)

GSK Ups Stake in Neptunus Interlong Vaccine JV Aug 18, 2010: GlaxoSmithKline will purchase an additional 9% of the vaccine-focused JV it shares with Shenzhen Neptunus Interlong Bio-technique. The price – $10.575 million – represents a 50% increase in valuation over the one established when the JV was formed last year. After the transaction, GSK will own 49% of the entity while Nep Interlong will hold the remaining 51%. More details....
Stock Symbols: (NYSE: GSK) (HKEX: 8329)

Accord Pharma to Buy the Rest of Shenzhen Sinopharm TCM Aug 18, 2010: Shenzhen Accord Pharmaceutical will gain full control of Shenzhen Sinopharm Traditional Chinese Medicine by buying the 52.6% stake it doesn’t already own. At 27 million RMB ($4 million), the acquisition is a relatively small one. Accord is buying the stake from industry giant Sinopharm. More details....
Stock Symbols: (SHEX: 000028) (SHEX: 01099)

China Approves Novartis-Alcon Merger with Conditions -- Update Aug 17, 2010: China’s Ministry of Commerce approved the merger between Swiss biopharma Novartis and eye-products company Alcon, though it did require CIBA VISION, a division of Novartis, to terminate its Sales and Distribution Agreement with HaiChang, one of the largest contact lens sellers in China, within the next 12 months. The MoC said Novartis-Alcon together enjoy a 55% stake in the affected markets worldwide and a 60% share in China. More details...

Stock Symbols: (NYSE: NVS) (NYSE: ALC)

Kanghui Holdings Prices IPO, Rises in Trading Aug 11, 2010: Kanghui Holdings, a China orthopedic device maker, priced its IPO in the exact middle of its expected range, $10.25 per ADS, raising a total of $68.4 million in the offering. The pricing showed investors took a favorable read on Kanghui’s business, an interest also shown in subsequent open market trading. Kanghui’s ADSs rose 88 cents to $11.13, a 9% increase, in early NYSE action. More details....

Stock Symbol: (NYSE: KH)

Sangon Biotech Raises $10 Million from Qiming Ventures Aug 3, 2010: Sangon Biotech, a Shanghai company that offers life science research services, has received $10 million in funding from Qiming Ventures. Sangon is a wholly owned subsidiary of Bio Basic Inc. of Toronto, a privately held enterprise that also offers life science research services. Sangon said it would use the funds to increase its R&D, manufacturing and sales. More details....