Week in Review: ZAI Laboratory Lands $30 Million in Initial Funding

ZAI Laboratory, a Shanghai startup with two drug candidates in-licensed from Sanofi, raised more than $30 million from an international group of healthcare investors; FortuneRock(China) of Beijing closed a $24 million funding from China investors to underwrite protein drug development; Luye Pharma will pay $599 million to acquire a 58% stake in Beijing Jialin Pharma; Hony Capital sold $528 million of its shares in CSPC Pharma, lowering its stake from 62% to 51%; China Biologic Products paid $87 million to purchase an additional 20% stake in fellow plasma company Guizhou Taibang Biological; the venture capital arm of WuXi PharmaTech participated in the $24 million Series B funding of Aldea Pharma, a California company; Amerigen and China's Ningbo Menovo Pharma will collaborate to develop generic drugs for the US market; China announced foreign companies will be allowed to own 100% of China hospitals, up from a previous limit of 70%; SciClone Pharma received CFDA approval for DC Bead®, a treatment for liver cancer in-licensed from BTG plc of the UK; Fosun Pharma announced the China launch of Saladax's MyCare assays, a test to determine optimal chemotherapy dosing; and Dehaier Medical Systems of Beijing is planning the China launch of its diagnostic test for sleep apnea. More details.... Stock Symbols: (NYSE: SNY) (HK: 2186) (HK: 1093) (NSDQ: CBPO) (NYSE: WX) (NSDQ: SCLN) (LSE: BTG) (SHA: 600196; HK: 02196) (NSDQ: DHRM) Share this with colleagues: // //