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Zai Lab is planning to list its shares on the Hong Kong exchange, according to unnamed sources, in a transaction that could raise up to $300 million. One year ago, the company completed a $172 million NASDAQ debut offering. Zai is following the lead of BeiGene, which raised $900 million in Hong Kong after initially listing on NASDAQ. The Zai transaction is expected to be 10% to 20% of its expanded share base; it currently has a market capitalization of $1.2 billion. More details....

Stock Symbol: (NSDQ: ZLAB) (NSDQ: BGNE)

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Ascentage Pharma of Suzhou has been approved to stage a Hong Kong IPO. The company, which has built a portfolio of seven clinical stage small-molecule candidates, bases its drug discovery on an expertise in protein-protein interactions. Its seven candidates are currently being tested in 20 Phase I and II trials in China, the US and Australia. One month ago, Ascentage raised $150 million in a Series C funding, bringing its total venture backing up to $240 million. More details....

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China Biologic Products, a blood plasma company, received a $3.9 billion privatization offer from a management-led consortium of investors, topping a $3.6 billion offer from CITIC two months ago. The management-led offer is $118 per share, while CITIC offered $110. The consortium noted the offer represents a 30% premium to the previous closing stock price and a 40% premium to the close before the CITIC bid. Goldman Sachs will support the consortium's fundraising efforts. More details....

Stock Symbol: (NSDQ: CBPO)

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Shanghai ChemPartner, a CRO/CMO, has closed its reverse merger with Quantum Hi-Tech China Biological for a combination of cash and stock. ChemPartner said it will have easier access to additional capital as a listed entity. Quantum makes probiotics for packaged foods, and its operations will remain separate from ChemPartner's. The merger was first announced over a year ago, though terms of the agreement have not been disclosed. All of ChemPartner's CRO/CMO operations will become part of Quantum. More details....

Stock Symbol: (SZE: 300149)

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Tot Biopharm of Suzhou closed a $102 million Series B financing round, which it will use to develop a portfolio of high-end anti-tumor drugs. Tot Bio has over ten drugs in the R&D stage, including three biologics and three small molecules that have been approved for clinical trials. Its Avastin biosimilar has started a Phase III trial. Tot Bio emphasizes foreign partnerships as a means of maximizing the potential of its products. The financing was supported by China Universal GP Limited along with existing investors. More details....

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