ChinaBio® Today

Sundia Acquires Protein Folding Technology

Mon, 06 Jul 2009 11:24:42 PDT

Sundia MediTech, a Shanghai based CRO company, acquired a Protein Folding Shape Code (PFSC) technology that facilitates probe binding site work for drug discovery. The technology was developed by Microtech Nano LLC, an Indianapolis, Indiana R&D company. As part of the deal, Dr. Jiaan Yang, Founder and President of Microtech, will join Sundia as Vice President of Drug Discovery Technology. Financial details were not disclosed. More details...

Rural Heathcare in China to Receive 100 Billion RMB for Facilities

Mon, 06 Jul 2009 11:16:05 PDT

China will spend 100 billion RMB ($14.7 billion) on new healthcare facilities and equipment in rural parts of the country by 2011, according to the Ministry of Health. The money will be spread over almost 10,000 medical institutions. As a first step, 20 billion RMB ($3 billion) has been allocated to build 961 county-level hospitals, 3,556 township health centers and 1,153 community health centers. More details...

The Week in Review: Doing Deals

Sat, 04 Jul 2009 12:36:38 PDT

As the feeling of economic crisis recedes, other – more normal – stories are beginning to take the place of apocalyptic news. Last week in China life science, we saw an upsurge of interest in deal making. The ChinaBio® Partnering Forum was held in Shanghai, providing a venue for almost 600 meetings between young companies and global pharmas looking for promising technology. After a long dry spell, two China companies held IPOs, one listing in Shenzhen, the other in New York. And a $25 million venture capital infusion went to a China generic drug company. More details...

Two China Pharma-Related Companies IPO – Guilin Sanjin and Chemspec

Fri, 03 Jul 2009 16:28:00 PDT

During the past week, two China pharma-related companies successfully completed their IPOs, ending a long drought of new offerings. Guilin Sanjin Pharmaceutical Co, a traditional Chinese medicine company, will make its debut on the Shenzhen exchange. On the New York Stock Exchange, chemical company Chemspec, which produces APIs as well as other specialty chemicals, listed its shares. Both issues received an enthusiastic welcome. More details...

Stock Symbol: (NYSE: CPC)

Bayer Launches Novel Anti-Clotting Drug in China

Fri, 03 Jul 2009 11:16:28 PDT

Bayer Healthcare has launched its new anti-clotting drug Xarelto (rivaroxaban) in China following SFDA approval. As Liam Condon, Managing Director of Bayer HealthCare China said at last week’s ChinaBio® Partnering Forum, the fact that Xarelto was approved in China before the US shows Bayer’s commitment to bringing innovative drugs to China simultaneously with other major world markets. Xarelto is an oral medication, taken once daily, that was approved for the relatively narrow indication of preventing deep vein thrombosis in patients who undergo knee or hip replacement surgery. More details...

Stock Symbol: (Xetra: BAYG.DE)

Novast Receives $25 Million in Series C Round

Fri, 03 Jul 2009 10:22:31 PDT

Novast Pharmaceuticals Ltd., a Chinese maker of generic pharmaceuticals aimed at world markets, raised $25 million in a Series C funding, according to VentureWire. In its sixteen years of existence, Novast has developed more than 80 different products, which are either commercialized or pending FDA approval in the US. The company’s goal is to provide cost-effective finished pharmaceutical products globally. More details...

Micro Imaging Hires OPH for China Expansion

Thu, 02 Jul 2009 17:09:36 PDT

Micro Imaging Technology has engaged OPH Ltd. of Hong Kong to help it find a manufacturing partner in Asia. Also, OPH will develop a market in China for the MIT 1000 Rapid Microbial Identification System through its distribution channels. MIT, a California company, uses lasers as the basis for its patented system. The MIT 1000 combines light scattering principles with proprietary software algorithms to identify microbes. More details...

Stock Symbol: (OTCBB: MMTC)

NeoStem Raises an Additional $4 Million

Thu, 02 Jul 2009 12:18:02 PDT

NeoStem has raised another $4 million from institutional and private investors. The terms of the funding were the same as those for the company’s previous fund raising, an $11 million private placement in April involving three Asia-based investors. Also, affiliates of Suzhou Erye Pharmaceuticals Company, Ltd. have increased their overall investment in NeoStem to over $1,000,000. NeoStem expects to acquire a 51% in Suzhou Erye by merging with a company that owns the 51% stake in Suzhou Erye. More details...

Stock Symbol: (NYSE Amex: NBS)

WuXi Named One of China’s Top 10 Outsourcing Companies

Thu, 02 Jul 2009 11:13:23 PDT

WuXi PharmaTech (药明康德) was named one of the Top Ten Leading Outsourcing Enterprises in China, a list selected by China’s Ministry of Commerce. The ministry announced the composition of the list at the recent Second Annual China International Service Outsourcing Cooperation Conference, held in Nanjing. WuXi PharmaTech, a highly visible China CRO with additional operations in the US, is the only representative of the healthcare sector on the list. More details...

Stock Symbol: (NYSE: WX)

China’s First Partnering Conference Draws Large Global Audience

Fri, 26 Jun 2009 18:21:10 PDT

The ChinaBio® Partnering Forum, held in Shanghai on June 23-24, 2009, was called an unqualified success by co-organizers ChinaBio® LLC and EBD Group. The event, which was the first biotech/pharma partnering conference held in China, attracted 486 attendees from 272 companies and 29 countries. Greg Scott, CEO and Founder of ChinaBio LLC, said, “Interest was high from both sides of the biopharma industry, with the global pharmas looking for new drug candidates and development platforms in China, and China’s biotech companies and researchers seeking partnerships to develop some highly interesting novel technologies created here.” More details...

China Pharma Holdings Given OK for Generic Crestor® Trials

Tue, 23 Jun 2009 16:42:38 PDT

China Pharma Holdings obtained approval from the SFDA to begin Phase I and Phase II clinical trials of Rosuvastatin, a generic version of the cholesterol-lowering statin drug Crestor®. The trials will test the compound for efficacy. China Pharma will move to being the trials immediately with the goal of winning approval by the end of 2010. More details...

Stock Symbol: (OTCBB: CPHI)

Sinovac Lands H1N1 Flu Vaccine Order

Sun, 21 Jun 2009 23:09:24 PDT

Sinovac Biotech (北京科兴生物制品有限公司) received the first order for its influenza A (H1N1) vaccine from the Beijing government. The initial order, consisting of 4 million doses, will be administered to 2 million high risk people. Following delivery of the first order at the end of September, Sinovac expects additional orders that will bring the total to 10 million doses. All of these will be for Beijing area citizens. More details...

Stock Symbol: (NYSE Amex: SVA)

The Week in Review: New Developments

Sun, 21 Jun 2009 18:36:59 PDT

Eli Lilly unveiled a new program allowing researchers a free use of its disease-state assays in return for the right to make the first bid on promising compounds; Pfizer will do deals to become the number one drug seller in emerging markets; NeoStem partnered with Enhance BioMedical of Shanghai on a China stem cell collection and treatment network; China Aoxing Pharma completed the registration trial of Codeine Phosphate; NeuroLogica will market its CereTom portable CT scanner in China, following SFDA approval; Vital Images will distribute its visualization software for scanners in China through Chindex; Sundia MediTech said its new animal facility passed an audit from an unnamed major pharma; Guilin Sanjin Pharma will be the first China IPO of any sector in 2009; Tianyin Pharma expects revenues of $42 million and net income of $7.5 million in its 2009 fiscal year; and China Medical Tech said 2009 revenue increased 51% to $121 million. More details...

Stock Symbols: (NYSE: LLY) (NYSE: PFE) (NYSE Amex: NBS) (NSDQBB: CAXG) (NSDQ: VTAL) (NSDQ: CHDX) (NYSE AMEX: TPI) (NSDQ: CMED)

Pfizer Wants to Do Deals in Emerging Markets

Fri, 19 Jun 2009 11:21:28 PDT

Pfizer will use acquisitions and partnerships in an effort to become the number one drug seller in emerging markets such as China. Currently, Pfizer occupies the number three position. The emerging markets sector is worth $80 billion currently, and is expected to grow to $120 billion by 2012. Asked if acquisitions figured in the company’s future, Jean-Michel Halfon, President of Emerging Markets for Pfizer replied, "We see opportunities coming from the financial crisis ... opportunities to build partnerships in emerging markets." More details...

Stock Symbol: (NYSE: PFE)

Guilin Sanjin Pharma Will Be First China IPO of 2009

Fri, 19 Jun 2009 10:44:21 PDT

Guilin Sanjin Pharmaceutical Co., a maker of traditional Chinese medicines, will be the first China IPO of any sector in 2009. The company is planning to make its debut on June 29 on the Shenzhen exchange. China regulators banned IPOs nine months ago, after the Shanghai Composite Index fell 60% in 2008. Guilin Sanjin will issue up to 46 million new shares to fund 10 projects that will require 634 million RMB ($93 million) of investment. More details...

China Medical Tech Says 2008 Revenues Climbed 51%

Fri, 19 Jun 2009 10:31:51 PDT

China Medical Technologies, a company that is prospering by focusing on in vitro diagnostic devices, reported preliminary financial data from its fiscal 2008 year, which ended March 31, 2009. The company said revenue increased 51% to $121 million, while net income jumped 80% to $2.3 million on a non-GAAP basis. More details..

Stock Symbol: (NSDQ: CMED)

China Aoxing Completes Trial of Codeine Product

Thu, 18 Jun 2009 12:10:56 PDT

China Aoxing Pharmaceutical Company reported that it has completed the registration trial of Codeine Phosphate, an oral solution that treats acute moderate to severe cough. The company plans to announce top-line results from the trial by the end of Q3 of 2009, and it hope to launch its codeine product in China in 2010, assuming positive trial results. More details..

Stock symbol: (NSDQBB: CAXG)

Tianyin Issues Early Financial Report of Positive 2009

Thu, 18 Jun 2009 11:07:07 PDT

Tianyin Pharmaceutical, whose fiscal year ends in two weeks on June 30, announced it expects to report revenues of $42 million and net income of $7.5 million in its 2009 fiscal year. Both numbers reflect an increase of 25% over year earlier results. Tianyin also issued guidance for further growth of 40% in fiscal 2010. More details...

Stock Symbol: (NYSE AMEX: TPI)

Vital Images to Offer Scanning Software in China through Chindex

Wed, 17 Jun 2009 11:16:05 PDT

Vital Images will distribute its visualization software for CT and MR scans in China through Chindex International. Vital Images has already obtained SFDA approval for its product, which Chindex will market to hospitals throughout China. Specific financial terms of the arrangement were not disclosed. More details...

Stock Symbols: (NSDQ: VTAL) (NSDQ: CHDX)

Lilly Offers Free Testing for Novel Compounds

Tue, 16 Jun 2009 11:20:09 PDT

Eli Lilly has taken another step in transforming itself from a fully integrated big pharma to a partnership arrangement, which it now calls a Fully Integrated Pharmaceutical Network (FIPNet). The goal is to foster open collaboration between Lilly and global laboratory researchers. Lilly calls its new program the Phenotypic Drug Discovery Initiative, or PD2 (pronounced PD-squared). Lilly is offering a free-of-charge use to outside researchers of its disease-state assays, complete with a secure web portal, which will evaluate the therapeutic potential of externally-developed synthesized compounds. More details...

Stock Symbol: (NYSE: LLY)

Sundia MediTech Says Animal Lab Passes Audit

Tue, 16 Jun 2009 11:02:55 PDT

Sundia MediTech Company, a Shanghai CRO, reported that its recently opened animal facility passed an audit from an unnamed major European pharmaceutical company. The European company said Sundia’s lab has instituted the highest level of animal care and research practices. The inspection and audit took place in May. More details...

NeoStem Signs China Stem Cell Deal with Enhance BioMedical

Mon, 15 Jun 2009 11:24:59 PDT

NeoStem, Inc., a company built on collection and storage of adult stem cells, signed an exclusive 10-year agreement with Enhance BioMedical Holdings Limited of Shanghai. Using NeoStem developed techniques, Enhance will build a stem cell collection and treatment network. The facilities are targeted for Shanghai, Taiwan, and the provinces of Jiangsu, Zhejiang, Fujian, Anhui and Jiangxi. More details...

Stock Symbol: (NYSE Amex: NBS)

NeuroLogical Given SFDA Approval for Portable CT

Mon, 15 Jun 2009 10:26:51 PDT

NeuroLogica Corporation, a privately held medical imaging company based in Massachusetts, will begin marketing its CereTom portable CT scanner in China, following approval of the machine by the SFDA. NeuroLogica will open a business liaison office in Beijing to facilitate sales. CereTom is a portable eight-slice head and neck CT scanner that can be used in hospitals or medical clinics. More details...

The Week in Review: Moving Forward

Sat, 13 Jun 2009 13:42:36 PDT

Bayer HealthCare China discussed the company’s China strategy; prices of US biopharma real estate have dropped to levels that could attract China biopharmas; Commonwealth Biotech agreed to acquire fellow peptide company GL Biochem (Shanghai) Ltd.; two vaccine related JVs were formed: Bio-Bridge Science with JR Scientific Inc.; and GlaxoSmithKline with Shenzhen Neptunus Interlong Bio-Technique; Sinovac (北京科兴生物制品有限公司) began producing an influenza A (H1N1) pandemic vaccine; China Biologic Products raised $9.6 million; Shenyang Pharmaceutical Industry Park held its official opening; and Eurofins received another accreditation for its Suzhou central laboratory facility. More details…

Stock Symbols: (NSDQ: CBTE) (OTCBB: BGES) (NYSE: GSK) (NYSE Amex: SVA) (OTCBB: CBPO) (NYSE Euronext Paris: FR0000038259)

Interview: China Looms Large for Bayer Growth Strategy

Fri, 12 Jun 2009 10:14:37 PDT

Bayer Healthcare China produced more than $750 million of revenue in 2008 with a growth rate of 56%. That was enough to make Bayer both the leading healthcare company in China and the fastest growing multinational. “We will support innovation and new ideas in every area of the company, not just in research and development,” said Liam Condon, Managing Director, Bayer HealthCare China, in a recent interview that discussed Bayer’s strategy for China. More details…

Stock Symbol: (XETRA: BAYG.X)