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Recent Articles in Top Stories

WuXi Biologics Prices Hong Kong IPO at $511 Million
Jun 6, 2017
WuXi Biologics priced its Hong Kong IPO at the top of the range, raising $511 million, according to numerous sources. Demand for the offering was strong, caused by the WuXi pedigree and the fast growing revenues of the biologics business-- up 91% in the first nine months of 2016. The WuXi Biologics offering was 30 times oversubscribed, potential cornerstone investors were turned away, and underwriters closed their books early. The offering values WuXi Biologics at $3 billion, and the new shares are expected to begin trading in Hong Kong on June 13. More details....

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Zai Lab Files to Raise $150 Million for Venture Fund
May 24, 2017
Shanghai's Zai Lab filed in the US to begin raising $150 million for its own venture fund. The company isn't talking about the fund yet, but its CEO, Samantha Du, PhD, is listed as the General Partner. Dr. Du has a high profile in China, having served as CEO of Hutchison MediPharma, partner at Sequoia Capital China, and since 2014, as Founder, Chairman and CEO of Zai Lab. In three years, Zai has in-licensed seven drug candidates from six companies. The official name of the fund is Zai Venture Fund I, suggesting venture capital could be an ongoing Zai activity. More details....

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Sinobioway Enters $50 Million Deal for Five BioAtla CAB Candidates
May 16, 2017
Beijing Sinobioway added five new Conditionally Active Biologic antibody targets to its collaboration with BioAtla, a San Diego-Beijing biotech. Sinobioway will pay $50 million to BioAtla for China rights to the new targets, consisting of $30 million in cash and $20 million in manufacturing and development costs (at a discounted rate). In 2015, Sinobioway in-licensed greater China rights to four CAB candidates from BioAtla. The two companies have also signed a new services agreement that calls for Sinobioway to provide BioAtla with development and manufacturing services. More details....

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Otsuka to Pay $865 Million For Europe and China Rights to Akebia's Anemia Treatment
May 12, 2017
Japan's Otsuka Pharma signed a $865 million deal to add non-US rights (including China) for a late-stage anemia drug from Boston's Akebia Therapeutics. Late in 2016, Otsuka entered a $1 billion agreement for US rights to vadadustat, an oral hypoxia-inducible factor stabilizer. The latest deal adds rights in Europe, China, Russia, Canada, Australia and the Middle East. Akebia will receive $73 million upfront and up to $792 million in development funding and milestone payments for the non-US rights. More details....

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Ping An Forms $1 Billion Global Investment Fund for Fin-Tec and Healthcare Startups
May 4, 2017
Ping An Insurance Group, China's largest insurer by market value, announced plans to launch a $1 billion international fund that will invest in fin-tech and healthcare startups. Ping An is already a player in the fin-tech area with Lufax, China's biggest peer-to-peer lending and wealth management platform. In healthcare, the company offers Ping An Good Doctor, a mobile app, which has 140 million users and is, says Ping An, the first healthcare stop for many people in China. More details....

Stock Symbols: (HK: 2318; SHA: 601318)

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