Deals & Financings - ChinaBio® Today

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Radient Reveals New Divestiture Plan for China Subsidiary Jul 29, 2010: Radient Pharmaceuticals announced a new plan to sell its China subsidiary, Jade Pharmaceuticals Inc. Jade has signed a letter of intent to merge with Shanxi BaoTai Pharmaceutical Co., a privately owned company located in Taiyuan China. When the transaction is closed, Jade plans to merge the combined entity with an unnamed public company, and the public company will move its listing to the NYSE Amex. More details....

Stock Symbol: (AMEX: RPC)

Kangmei Pharma Continues M&A Initiatives Jul 29, 2010: Kangmei Pharmaceutical will purchase the pharmaceutical assets of two TCM companies from the Langzhong government in Sichuan province: Sichuan Tengwangge Pharmaceutical and Sichuan Baoning Pharmaceutical. The company will invest 300 million RMB ($44 million) in Langzhong’s healthcare sector in the next two years. More details....

Stock Symbol: (SHEX: 600518)

Kanghui Files for IPO on NY Stock Exchange Jul 27, 2010: China Kanghui Holdings, a medical-device company, filed its registration papers to make an IPO on the New York Stock Exchange that will raise up to $75 million. Kanghui makes orthopedic implants such as plates and screws for use in treating trauma or spinal conditions. It recorded a profit of $11 million on sales of $27 million in 2009. However, the accretion of convertible preferred shares turned the profit into a net loss of $1.7 million. More details....

Merck and Sinopharm to Set Up Vaccine JV Jul 27, 2010: Merck Sharp & Dohme (MSD), the international arm of US big pharma Merck signed a letter of mutual intent with Sinopharm (China National Pharmaceutical Group Corporation) to market Gardasil®, Merck’s vaccine for human papillomavirus (HPV). HPV, if left untreated, can cause cervical cancer. The two companies plan to establish a joint venture. More details....

Stock Symbols: (NYSE: MRK) (SHEX: 600511)

Lijun Pharma. and Tonghua Dongbao Set Up IV Joint Venture Jul 23, 2010: Lijun International Pharmaceutical agreed to set up a Joint Venture with Tonghua Dongbao Pharmaceuticals in Jilin Province. The JV will manufacture and sell large volume intravenous infusion solutions. Lijun is headquartered in Hong Kong, though the majority of its operations are in the PRC. More details....

Stock Symbols: (HKEX: 02005) (SHEX: 600867)

CCBI Healthcare Fund Invests in Medical Device Maker Jul 23, 2010: CCBI Healthcare Fund, a private equity fund established by China Construction Bank, has made an investment in Shanghai Kindly Enterprise Development Group (KDL), a maker of polymer medical devices in China. KDL has the largest market share for needles in China and is one of the top three needle product companies in Asia. More details....

Stock Symbol: (HK: 0939)

Lee’s Pharma to Distribute PAH Drug in China Jul 22, 2010: Lee's Pharmaceutical, which is headquartered in Hong Kong, will be the exclusive China distributor for Remodulin, a United Therapeutics product. Remodulin is a prostacyclin analogue for the treatment of pulmonary arterial hypertension. Lee's Pharma will be responsible for obtaining approval of the drug in China, which will include conducting bridging studies. More details....

Stock Symbols: (GEM: 8221) (NSDQ: UTHR)

BioHorizons Seeking SFDA Approval of Dental Implant Products Jul 22, 2010: In its initial filing for a Nasdaq IPO, BioHorizons, a US-based dental implant company, revealed it expects to market its products in China soon. The company has already submitted filings with the SFDA for approval of the medical devices. BioHorizon hopes its Nasdaq IPO will raise as much as $100 million. More details...

BMP Sunstone Rises on Takeover Rumors Jul 20, 2010: BMP Sunstone rose more than 10% yesterday on rumors that it would be acquired by a private firm. According to published reports, the company will be bought for a price somewhere between $9 and $10, with an announcement espected in the next few days. The name of the suspected acquirer was not disclosed. Company officials refused to comment on the reports. More details...

Stock Symbol: (NSDQ: BJGP)

China Life Science IPOs Raise $5.4 Billion in Last 12 Months Jul 19, 2010: The spectacular IPO of Sinopharm Group in September 2009 started something: 23 China life science enterprises have become public companies in the last year, listing their shares on China mainland exchanges or in Hong Kong. Although eight of the deals were worth less than $100 million, their total value is $5.4 billion, showing that investors think the outlook for China life science is very bright. More details...