WuXi Healthcare Ventures and Frontline BioVentures will merge to form 6 Dimensions Capital, which will have nearly $800 million under management and plans to raise more; WuXi Biologics' upcoming Hong Kong IPO may bring in as much as $513 million; ...


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Week in Review: China Life Science Venture Tie-up: WuXi and Frontline Merge

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

WuXi Healthcare Ventures and Frontline BioVentures will merge to form 6 Dimensions Capital, which will have nearly $800 million under management and plans to raise more; WuXi Biologics' upcoming Hong Kong IPO may bring in as much as $513 million; Shanghai's Zai Lab filed in the US to begin raising $150 million for its own venture fund; WuXi NextCODE is seeking an additional $200 million in venture capital; Symic Bio, a Bay-area matrix biology company, announced a $30 million B financing that includes two China investors; CANbridge Life Sciences of Beijing completed a $25 million Series B round for clinical trials; VoxelCloud, a Los Angeles-China medical artificial intelligence company, raised $10 million in a Series A round; Israel's EarlySense partnered with Shenzhen Lachesis mHealth to introduce its remote monitoring system in China; Janssen, a Johnson & Johnson research arm, plans to increase its investment in China to develop new drugs for lung disease, especially cancer; Celltrion of South Korea received approval to start China clinical trials of a Remicade biosimilar; Guangzhou Xiangxue was granted CFDA approval to begin clinical trials of a novel treatment for glioblastoma; and Xynomic Pharma, a US-China oncology startup, formed a partnership with the University of California San Francisco to conduct a Phase II/III clinical trial of its lead drug, which is designed to overcome chemotherapy resistance. More details....

Stock Symbols: (NYSE: JNJ) (KOSDAQ: 068270)

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VoxelCloud, a California-China startup, Raises $10 Million for Medical Imaging AI

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

VoxelCloud, a Los Angeles-China medical artificial intelligence company, raised $10 million in a Series A round led by Sequoia Capital. Using AI and cloud computing, VoxelCloud plans to provide automated readings of medical images, which will be used as the basis for care plans in four areas: lung cancer, diabetic retinopathy, coronary heart disease and liver disease. The company is headquartered in Los Angeles and has research teams in Shanghai and Suzhou. More details...

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Janssen Promises Lung Cancer Drug Initiative in China

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

Janssen Pharmaceutica, an R&D arm of Johnson & Johnson, plans to increase its investment in China to develop new drugs for lung disease, especially cancer. The company said it would launch the new drugs in China first, then expand their reach to the rest of the world. The parent, J&J, will establish a global R&D center in China to further the work. Over the next five years, Janssen plans to launch more than ten new pharmaceutical products and expand its offerings in 50 existing medicines. More details....

Stock Symbol: (NYSE: JNJ)

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WuXi Biologics to Raise up to $513 Million in Hong Kong IPO

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

According to sources, the upcoming Hong Kong IPO for WuXi Biologics, a CRO/CMO, will raise up to $513 million. That values WuXi's biologics subsidiary at $2 billion, if WuXi follows the common practice of offering 25% of its shares (Hong Kong requires that companies must offer at least that much in an IPO). WuXi Biologics filed for the IPO in January, but the filing did not contain details of the offering. WuXi has still not announced these details officially, though the reports sound definitive. The $513 million transaction is a large increase over the $300 million January whisper number. Preparations for the IPO are expected to launch soon. More details....

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Celltrion Approved to Start China Trials of Remicade Biosimilar

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

Celltrion, a South Korean biosimilar company, received CFDA approval to begin clinical trials of Remsima, a biosimilar to Johnson & Johnson’s arthritis treatment Remicade. Remsima has the distinction of being the first foreign antibody biosimilar approved for an efficacy/safety test in China, according to Celltrion, which filed for trial approval in January 2014. That's a long time to wait, even for China. Rensima is already marketed in Europe and the US. More details....

Stock Symbols: (KOSDAQ: 068270) (NYSE: JNJ)

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


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