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Week in Review: Shanghai ChemPartner, a China CRO/CMO, Completes Reverse Merger
Deals and Financings
Shanghai ChemPartner, a CRO/CMO, closed its reverse merger with Quantum Hi-Tech China Biological (SZE: 300149) for a combination of cash and stock (see story). ChemPartner said it will have easier access to additional capital as a listed entity. Quantum makes probiotics for packaged foods, and its operations will remain separate from ChemPartner's. The merger was first announced over a year ago, though terms of the agreement have not been disclosed. All of ChemPartner's CRO/CMO operations will become part of Quantum.
YiChang HEC ChangJiang Pharm (HK: 1558) raised $400 million from Blackstone Group (NYSE: BX) in the a convertible bond offering (see story). The bonds will pay 3%. HEC Pharm, based in Yichang in central
The Buck Institute for Research on Aging, Insilico Medicine and Juvenescence have joined together to form a fourth company, Napa Therapeutics (see story).
Haisco Pharma (SHZ: 002653) invested $10 million in North Carolina's Pneuma Respiratory in return for China rights to Pneumahaler™, a breath-activated digital inhaler intended for asthma and COPD (see story). Initially, Pneuma intends to use the device to deliver off-patent medications, but the company believes the Pneumahaler will eventually prove to be an effective delivery tool for biologic medications. According to Pneuma, the device combines advanced droplet ejector technology with digitally controlled breath-actuation.
Crown Biosciences, a global CRO, in-licensed rights to translational platforms from Shanghai Model Organisms Center (SMOC) (see story). The genetically engineered mouse models include proprietary transgenic and reporter models for oncology, cardiovascular and immunology research. SMOC said the agreement will make its products available globally. In December 2017, CrownBio was acquired by JSR Corporation of
Company News
Adlai Nortye, a
Trials and Approvals
Sirnaomics of Maryland was approved to start US trials of its anti-cancer/anti-fibrosis siRNA (small interfering RNA) therapeutic in patients with advanced cholangiocarcinoma (CCA) (see story). Sirnaomics has facilities in
Sihuan Pharma (HK: 0460) started a China Phase II Trial of pirotinib, a novel EGFR treatment for cancer, in patients with non-small cell lung cancer (NSCLC) (see story). The company conducted the earlier Phase I trial in the
CANbridge Life Sciences, a
Stock Watch
Loncar launched its China BioPharma ETF (NSDQ: CHNA), a fund that gives international investors access to a diversified portfolio of China-based innovative biopharmas (see story). The exchange-traded-fund currently holds 28 companies, made up of China-centered biopharmas that are traded in
Disclosure: none.
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