MicroPort Scientific, a Shanghai medical device maker, will pay $190 million to acquire the cardiac rhythm management business of Italy's Liva Nova. The two companies are already partners. In 2014, Micro Port and LivaNova, then known as Sorin Group, ...


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Shanghai's MicroPort Acquires CRM Business from Liva Nova for $190 Million

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

MicroPort Scientific, a Shanghai medical device maker, will pay $190 million to acquire the cardiac rhythm management business of Italy's Liva Nova. The two companies are already partners. In 2014, Micro Port and LivaNova, then known as Sorin Group, established a $20 million China JV to offer LivaNova's cardiac rhythm devices in China. Established in 1998, MicroPort aims to provide affordable high-quality medical devices in China and abroad, many of them minimally invasive. More details....

Stock Symbols: (HK: 00853) (NSDQ: LIVN)

     
 

Canada's Acasti Signs $133 Million Non-Binding Term Sheet with China Pharma

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

Canada's Acasti Pharma signed a $133 million non-binding term sheet with an unnamed China pharma for China/Asia rights to its hypertriglyceridemia drug candidate. CaPre, a prescription medication, is a highly concentrated omega-3 phospholipid derived from krill. Acasti believes CaPre is more readily absorbed into the body than competing omega-3 products. Earlier this year, Acasti announced Phase III trials of the candidate, which will use the abbreviated 505(b)(2) pathway for approval in the US. More details....

Stock Symbol: (NSDQ/TSX: ACST)

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Week in Review: Shanghai Pharma Acquires Cardinal's China Drug Distribution Network for $1.2 Billion

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

Deals and Financings 

  • Shanghai Pharma paid $1.2 billion to win the bidding war for Cardinal Health's China drug distribution operations, making Shanghai Pharma the largest drug distributor in China;
  • Arcus Biosciences, a Bay Area biotech with an in-licensed, China-discovered drug candidate, announced a $107 million financing that included China investors;
  • Adlai Nortye of Hangzhou entered a $86.6 million in-licensing agreement to develop an Oncolytics' immuno-oncolytic drug in Greater China;
  • Zensun (Shanghai) Science & Technology raised $76 million to complete development of Neucardin™, a novel treatment for chronic heart failure;
  • Cygnus Biosciences, a Beijing company developing an innovative sequencing technology, raised $19.6 million in a B Round;
  • Pfizer sold its 49% stake in a China generic drug JV that was formed five years ago with Zhejiang Hisun Pharma at an undisclosed price;  
  • Corestone Biosciences, a Beijing medical device startup, formed a China JV with Boston's Respiratory Motion to offer respiratory volume monitors in China;
  • Shanghai Pharma said it wants to keep doing international deals to expand its portfolio of drug offerings and export products to foreign markets;

Trials and Approvals

  • Ascentage Pharma, a China-US company, reported the US FDA accepted its IND submission to begin clinical trials of an apoptosis-inducing drug;  
  • Kunshan RiboQuark Pharma has dosed the first person in a China trial of a siRNA ocular neuroprotectant therapy, a treatment for "stroke in the eye."

Stock Symbols: (SHA: 601607) (NYSE: CAH) (NYSE: PFE) (SHA: 600267)

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Zensun Raises $76 Million for Novel Drug Portfolio

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

Zensun (Shanghai) Science & Technology raised $76 million from a group of investors led by SDIC Venture Capital Management, which contributed half of the funding itself. Zensun's lead drug is Neucardin™, a novel treatment for chronic heart failure that is aimed at building the heart muscle. Zensun believes the drug, which has completed several Phase II trials in China and the US, will prove to improve cardiac function rather than treating the symptoms of cardiac disease. More details....

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Adlai Nortye In-Licenses Oncolytic's Cancer Drug in $86.6 Million Deal

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

Adlai Nortye, a Hangzhou company, entered a $86.6 million in-licensing agreement to develop and market a novel immuno-oncolytic virus in Greater China that was discovered by Canada's Oncolytics Biotech®. Reolysin® is an intravenously delivered immuno-oncolytic virus that activates the innate and adaptive immune systems. Oncolytics plans a US Phase III trial of Reolysin in patients with HR+/HER2 metastatic breast cancer. Adlai Nortye will be responsible for all China clinical development of the candidate. More details....

Stock Symbol: (TSX: ONC)

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


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