Kangmei Pharmaceutical (SHEX: 600518) will raise up to 3.5 billion RMB ($529 million) by offering rights for new shares to existing shareholders (see story). The company will offer three new shares for each ten shares held at a price of 6.88 RMB each. The offering will eventually create 508 million new shares. Kangmei did disclose its intentions for the new capital.

Sichuan Kelun Pharma (SZEX: 002422) will purchase Guangdong Qingfa Pharmaceutical for 148 million RMB ($22.3 million) (see story). The price consists of 24 million RMB ($3.6 million) for the company and 124 million RMB ($18.7 million) for repayment of debt. This is small change for Kelun Pharma, which raised $750 million in its IPO on the Shenzhen exchange in May of this year.

Beijing Double-Crane Pharmaceutical (SHEX: 600062) will acquire Shenyang Enshi Pharmaceutical from Enshi Internation for 90 million RMB ($13.7 million) (see story). Enshi Pharma produced just 2.4 million RMB of revenue during the first four months of 2010, creating a loss of 3 million RMB. Double-Crane said the acquisition would boost production capacity of its cephalosporin antibiotics.

Chindex International (NSDQ: CHDX) and Fosun Pharma have formally created their previously announced JV, an entity dedicated to marketing and distributing medical devices in China (see story). As a secondary objective, the JV will also engage in R&D and manufacturing of medical devices. Chindex will contribute its Medical Products division to the JV, and Fosun will add much of its medical products distribution business after it secures regulatory approval for the transfer.

Emerging Healthcare Solutions (OTCPK: EHSI) of Houston has in-licensed the China rights to a system from Regenetech that cultures stem cells in a simulated weightless environment (see story). Regenetech’s Intrifuge™ Rotary Cell Culture System was developed by NASA and licensed to Regenetech. EHSI plans to use the stem cell culturing technology in a treatment for liver disease.

Clinical Trial Approvals

Sinovac Biotech (NSDQ: SVA) was granted SFDA approval to begin clinical trials of an inactivated vaccine for EV71, known as Hand, Foot and Mouth Disease (HFMD) (see story). Sinovac, which filed for an IND in December 2009, has been waiting for a year for official permission to begin the clinical phase of development.

China National Biotech Group also received approval from the SFDA to conduct clinical trials of a Hand, Foot and Mouth Disease vaccine (see story). HFMD is a recurrent problem in China, mainly affecting children under the age of five. An outbreak of the disease is currently plaguing South Korea.

Disclosure: none.