Wuxi AppTec, China's largest CRO/CMO, began the application process for an IPO on a China exchange; ShangPharma will seek to merge its CRO/CMO operations with a China public company; Sihuan Pharma will acquire China's Ambest Pharma, a maker of large ...


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Week in Review: Two Major China CROs Move Toward China Public Listings

Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.

Wuxi AppTec, China's largest CRO/CMO, began the application process for an IPO on a China exchange; ShangPharma will seek to merge its CRO/CMO operations with a China public company; Sihuan Pharma will acquire China's Ambest Pharma, a maker of large volume injections, for $160 million; C-Bridge Capital and Tasly Holding teamed up to invest $150 million in two young China biopharmas, which will be merged; Haoeyou, an internet-based remote medical service provider that links China patients with US doctors, raised $40 million in a Series A round; HitGen of Chengdu will collaborate with Merck/MSD to discover novel leads for Merck targets; a group of China investment companies closed their acquisition of medical device company Angiotech Pharma; the FDA approved an IND for a novel colorectal cancer treatment developed by Tarrex Biopharma, a San Diego-Xiamen company; and the CFDA is circulating a draft proposal that would speed up China approval of novel foreign drugs, especially global trials of novel drugs. More details....

Stock Symbols: (HK: 00460) (NYSE: MRK)

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WuXi AppTec Plans China IPO

Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.

Wuxi AppTec, China's largest CRO/CMO, has begun the application process for an IPO on a China exchange. Previously, the company was rumored to favor a reverse-merger transaction, which is generally considered a short-cut alternative to the long wait of an official China IPO. But WuXi has announced it will seek an A-Share listing in RMB, and that it has enlisted Huatai United Securities to shepherd the company through the process. In January, WuXi filed to list WuXi Biologics on the Hong Kong exchange at a $1.5 billion valuation, and its small molecule manufacturing subsidiary, SynTheAll, has been listed on China's OTC Third Board since 2014. More details....



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ShangPharma Plans to Merge CRO/CMO Operations with Public Entity

Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.

ShangPharma will combine all of its CRO/CMO operations under the ChemPartner name and merge the entity, sometime in the future, with a public company. The merger will list the CRO/CMO operations on either the Shanghai or Shenzhen exchange. ShangPharma did not disclose whether ShangPharma intends to be the surviving company. However, ShangPharma is holding back at least two of its divisions from ChemPartner: ShangPharma Technologies, which enables new technologies, and ShangPharma Investments, which invests in new drug therapies. More details....

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C-Bridge Capital and Tasly Invest $150 Million in Two China Biopharmas

Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.

C-Bridge Capital and Tasly Holding, a TCM company, have teamed up to invest $150 million in two young China biopharmas, which will be merged into a single entity as part of the investment. The two existing companies are Shanghai's Tianjing Biopharma and Tianjin's Tianzhenshi Biotechnology. The merged companies, whose new name was not disclosed, will jointly hold twelve antibody drug candidates. With $700 million under management, C-Bridge led a $100 million investment in HCV company Ascletis two months ago. More details....

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Sihuan Pharma Acquires Ambest Pharma China for $160 Million

Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.

Sihuan Pharma, headquartered in Beijing, will pay $160 million to acquire Ambest Pharma of China, a maker of large volume injection products. Ambest offers saline (sodium chloride) injections along with TCM and standard chemical products. Since its $742 million Hong Kong IPO in 2010, Sihuan has been an active participant in China pharma M&A while also developing a robust R&D pipeline. The company invests as much as 10% of its revenues in R&D, and at one point two years ago, Sihuan claimed to have a pipeline of 14 novel China Class 1.1 drugs in development. More details....

Stock Symbol: (HK: 00460)

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Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.


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