HD Biosciences Inc., a biology-focused contract research organization (CRO) based in Shanghai, formally announced the closing of its Series A financing. The first announcement came at the ChinaBio® Investor Forum held July 7-8 in Shanghai's Zhangjiang Park.  The round was led by Morningside Venture with Lilly Asian Ventures and Pfizer Venture Investments joining.  HDB's funding may well be the first example of multiple big pharma's taking an equity position in a China-based CRO.  HD Biosciences is a specialized CRO focused on conducting assay development and high throughput screening services for big pharma and biotech.  More details...

Stock Symbol:  (NYSE: LLY) (NYSE: PFE) (HSI: HWL)

Recently, Shenzhen’s Beike Biotechnology held the first annual 2008 China Stem Cell Technology Forum, a gathering that was attended by over 300 of the world’s most renowned stem cell biologist and researchers. Beike is a controversial company because it has already begun treating patients with injections of stem cells, usually a combination of umbilical cord cells and stem cells derived from each patient, even though its therapies have not undergone clinical trials. We look at Beike and its therapeutic results. More details... 

Special Feature:  Dr. Sean Hu, CEO of Beike Biotechnology responds to our article...

“Two years ago, when I decided to come back to China, I wanted an opportunity to change people’s lives and to help China’s pharmaceutical industry,” said Dr. Jin Li, COO of Shenogen Pharma Group, in an exclusive interview with ChinaBio® Today. “But if we do just what Western pharma does, we won’t develop a unique China pharmaceutical pathway,” he continued. Those words say a great deal about Dr. Li. But they also describe his company, Shenogen Pharma Group, which is a combination of Western practices and traditional Chinese medicines. It is also a highly innovative company that, despite its small size, is taking on a very large goal: small molecule and biologic drugs that are potential treatments for breast cancer and obesity. More details...

The authors continue to examine the proposed changes in China patent law, bringing readers up to date by focusing their attention on the differences between Draft Revision 2008 and Draft Revision 2006.  They find four major issues undergoing change: Willful infringement, misuse of patent rights and unfaithful accusation, inventions made in China, and empowerment of patent administration. A previous article covered the first two topics (see article). Here, the authors discuss inventions made in China and empowerment of patent administration. More details...

The caliber of the management team is a key consideration when deciding which pharmaceutical company to invest in, venture capitalists said at an industry forum held in Shanghai on July 7 and July 8. In recent years, China's pharmaceutical industry has emerged to become one of the biggest targets for both domestic and foreign venture capitalists, who are now a little more investment savvy. "Whenever we look at a pharmaceutical company, we always pay close attention to the management team first," said Kevin Li, partner at HBM BioMed China Ltd., at the ChinaBio® Investor Forum 2008 in Shanghai. More details...

The Shanghai government will offer financing aid to biotech companies developing new projects, according to a government official at an industry forum on July 8. "Most of the small and medium-sized biotech pharmaceutical companies in the country have financing issues," said Dr. Yu Ningni, director of the Pudong Science & Technology Development Fund Bureau at the ChinaBio® Investor Forum 2008 in Shanghai. "We have offered and will continue to offer all kinds of aid to those companies carrying out new research projects." More details...

Two companies received the prestigious "Most Promising Company" award at the ChinaBio® Investor Forum held in Shanghai.  Chosen from 21 companies by a panel of prominent venture capitalists, the winning companies were Shenogen Pharma Group of Beijing and Beyond Diagnostics Inc. based in Shanghai.  The award was sponsored by Unitalen Attorneys at Law, a prominent IP law firm in China.

GlaxoSmithKline Plc announced at the ChinaBio® Investor Forum held in Shanghai that it will increase its China-based research and development staff to 350 people in the next few years. Currently, the company has 170 employees on its R&D roster at is Shanghai facility. That number will move up to 200 by the end of this year, and it will jump to 350 within a year or so. At that point, staffing will level off for three or four years while new facilities are built. More details...

Stock Symbol: (NYSE: GSK)

In this article, the authors update their earlier published article: “Waves of Changes in Chinese Patent Law and Regulations.” Their attention is focused on the trend in the recent changes shown by comparing Draft Revision 2008 to Draft Revision 2006. The major issues covered in the installment include: Willful infringement, misuse of patent rights and unfaithful accusation.  Inventions made in China, and empowerment of patent administration will be discussed in an installment appearing next week.  More details... 

At the recent 2008 BIO Convention, a panel of industry experts discussed their experience with making biomedical investments in China. The title of the sessions was: Building a ‘Life Sciences Bridge’: Opportunities and Challenges in Venture Capital Investment in Asia. Many topics surfaced, including a discussion of  the beneficial effects that big pharma will have on the China talent pool.  More details...