Week in Review: Baiyunshan Pharma Raises $1.6 Billion

Baiyunshan Pharma will raise $1.6 billion in a secondary offering and spend some of the proceeds to further its China's online drug selling effort; Roche paid over $1 billion for a majority stake in WiXi PharmaTech-invested Foundation Medicine, a company with a personalized medicine test for cancer; Hanmi Pharma of South Korea will invest $20 million into California-based Allegro Ophthalmics to obtain China and South Korea rights for an ophthalmic drug; Australia's Burnet Institute finalized a $4 million investment from GuoMinXinHe, a Beijing investment firm, to underwrite development of a liver function test in China; the Mayo Clinic joined with China's Hillhouse Capital to form a hospital/clinic joint venture in Beijing; 3SBio signed a second deal to in-license a cancer drug candidate from PharmAbcine of Korea, this time for a bi-specific antibody; Tianyin Pharma will form a JV with Buchang Pharma of Shangdong to increase China distribution of its modernized TCM products; Biostar Pharma signed an R&D pact with Northwest University of Xi'an to develop a Class 1 TCM for cardiovascular disease; China’s State Council announced a new $6.5 billion venture capital fund for startup companies in emerging industries; Shanghai Biotech, a biomarker service CRO, teamed up with AKESOgen, a US genetics, genomics and biorepository services provider; and Chipscreen Biosciences of Shenzhen received CFDA approval to begin marketing Chidamide, an oral treatment for peripheral T-cell lymphoma. More details.... Stock Symbols: (HK: 874) (NYSE: WX) (NSDQ: FMI) (SIX: ROG) (KRX: 128940) (NYSE: TPI) (NSDQ: BSPM) Share this with colleagues: // //  
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