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Recent Articles in Top Stories

Ping An Raises $1 Billion for Healthcare Management Unit
Jan 18, 2018

China’s Ping An Insurance Group raised nearly $1 billion in a pre-IPO round for Ping An Healthcare Management, an open platform for healthcare services such as medical treatment, social health insurance (SHI) and drug distribution. The funding values the business at $8.8 billion. Ping An Healthcare Management plans a Hong Kong IPO later in 2018. It will follow an IPO, also in Hong Kong, for Ping An Good Doctor, a mobile site that provides diagnosis and schedules doctor visits. Reuters, which released the news, said Ping An did not confirm the reports. More details....

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

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Suzhou's Innovent Plans Capital Raise Followed by $200 Million IPO
Jan 15, 2018

Innovent Biologics of Suzhou is planning a pre-IPO round and then an IPO for $200 million in late 2018. The venue will be either a US or Hong Kong exchange, according to Bloomberg. Innovent is developing an ambitious portfolio of biosimilar and novel biotech cancer drugs.  One year ago, the company completed a $260 million D round. In 2015, Innovent struck an over-$1 billion deal with Lilly, which includes three PD-1 candidates and up to six other biologic drugs. Innovent is expected to seek a valuation of over $1 billion in its IPO. More details....

Stock Symbol: (NYSE: LLY)

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Hua Medicine to Raise $200 Million to Support Novel Diabetes Drug
Jan 12, 2018

Hua Medicine of Shanghai expects to spend $200 million over the next three years on its novel oral diabetes 2 treatment, dorzagliatin. The company will raise additional capital for the effort and then IPO, possibly in Hong Kong or the US. The funds will underwrite Phase III development of its GKA product and commercialization. Ultimately, Hua hopes dorzagliatin will generate annual revenues of $3 billion, a 15% slice of the China type 2 diabetes market, once the drug is approved. Hua expects China approval in 2020. More details....

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Week in Review: China Life Science Starts 2018 with $2 Billion Week
Jan 6, 2018

Deals and Financings 

  • Perennial Real Estate of Singapore announced a $1.2 billion joint venture to develop hospital-centered mixed-use developments in China;
  • Jiangsu Hengrui Medicine out-licensed ex-China rights for a novel JAK inhibitor to Arcutis Pharma of California in a $233 million deal;
  • SomaLogic of Colorado raised $200 million to measure human protein levels in a funding anchored by China's iCarbonX;
  • Aslan Pharma of Singapore acquired global control of varlitinib, its lead oncology drug, from Array BioPharma in a $129 million agreement;
  • Sansure Biotech of Changsha, a diagnostics company, raised $77 Million in a funding round led by Lilly Asia Ventures and Highlight Capital;
  • KBP Biosciences of Jinan closed a $76 million Series A financing to support its pipeline and open a global Philadelphia headquarters;
  • Beijing's Genetron Health, a precision medicine oncology company, raised $61 million in a C round led by Zhongjin Kangrui Medical Industrial Fund;
  • Zhejiang DTRM Biopharma announced a $60 million Series A round to support clinical trials of its lead cancer candidate, a BTK inhibitor;
  • ApolloBio of Beijing signed an amended $43 million deal for China rights to Inovio's HPV pre-cancer immunotherapy;
  • CMAB Biopharma completed a $38 million Series A funding for its biologic CRO/CMO operations in Suzhou BioBay Park; C-Bridge led the round;
  • Miracor Medical, an Austrian medical device company, closed a $30 million D funding round, led by Ming Capital of Shenzhen;
  • Laviana Pharma, a CRO/CMO with subsidiaries in Beijing and Tianjin, closed a $15 million Series B funding led by Shenzhen Huayi Capital;
  • Genostics of Hong Kong invested $13.5 million in UK-based Oncimmune for China rights to its blood-based cancer testing platform;
  • Illumina partnered with China's KingMed Diagnostics to develop China oncology diagnostics;
  • Xinogen (Hong Kong) Pharma will collaborate with Montreal's Angiochem to develop a treatment for leptomeningeal carcinomatosis in China.

Stock Symbols: (SGX: 40S) (SHA: 600276) (TT: 6497) (NSDQ: ARRY) (NEEQ: 430187) (NSDQ: INO) (NEEQ: 838853) (NSDQ: ILMN) (SHA: 603882)

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Jiangsu Hengrui Out-Licenses Novel Dermatology Drug for $233 Million
Jan 5, 2018

Jiangsu Hengrui Medicine out-licensed ex-China rights for a novel JAK inhibitor to Arcutis Pharma, a California dermatology company, in a deal worth up to $233 million, plus royalties. Arcutis will have rights to SHR0302 to treat dermatology disorders in the US, Europe and Japan. Hengrui is testing SHR0302 in a China Phase II trial for rheumatoid arthritis, though its agreement with Arcutis includes only topical use of the drug for dermatology diseases. More details....

Stock Symbol: (SHA: 600276)

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