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The Week in Review: DSM and Sinochem Launch Antibiotic JV
publication date: Sep 3, 2011
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author/source: Richard Daverman, PhD
Deals and Financings
Royal DSM (XAMS: DSM), the Dutch life sciences and materials company, and Sinochem received regulatory approval for their antibiotic JV (see story). The JV, announced last December, calls for Sinochem to buy a 50% stake in DSM’s anti-infectives unit for a price of $291 million. The JV combines DSM’s expertise in anti-infective APIs with Sinochem’s experience in China marketing. The JV will be headquartered in Hong Kong.
Company News
Nycomed, a privately owned Swiss biopharma, said its recent acquisition of Guangdong Techpool Biopharma and a direct sales model in China boosted the company’s revenues in Q2 (see story). Asia-Pacific, Africa and Middle East saw revenues climb by 81%, though the company did not break out China sales separately. In November 2010, Nycomed announced it would spend $210 million to purchase a 51% stake in Techpool, a biologics company.
Merck Serono (Xetra: MRK), the biopharmaceutical division of Merck KGaA, has opened a China lab as part of its planned R&D hub in Beijing (see story). The lab, which has $5.8 million of equipment, will pursue individualized treatments for cancer, neural degenerative disease and autoimmune and inflammatory disorders.
SinoCubate (OTCBB: SBAT) announced its launch as an incubator/investor in privately held companies located in mainland China (see story). To begin operations, SinoCubate has signed up Wei Wei Zhang, MD, PhD as a director and member of senior management. Dr. Zhang is a serial China-US entrepreneur who has been instrumental in eight biotech startups, a background that indicates SinoCubate will be interested in biopharmas. Previously a shell company, SinoCubate will now start operating with $5 million in share-based capital.
Trials and Approvals
NexBio, a San Diego biotech startup, has released positive data from a Phase II trial of a novel biologic that aims to both treat and prevent infection by all flu strains (see story). The drug works by inhibiting entry of the virus into cells. NexBio was formed by a China husband-wife team who did their early academic work in China, and then moved to the US to earn biology PhDs. NexBio has been in the news recently because the FBI conducted a very public raid on the company’s offices, though neither the FBI nor the company has explained the object of the raid.
Disclosure: none.
Royal DSM (XAMS: DSM), the Dutch life sciences and materials company, and Sinochem received regulatory approval for their antibiotic JV (see story). The JV, announced last December, calls for Sinochem to buy a 50% stake in DSM’s anti-infectives unit for a price of $291 million. The JV combines DSM’s expertise in anti-infective APIs with Sinochem’s experience in China marketing. The JV will be headquartered in Hong Kong.
Company News
Nycomed, a privately owned Swiss biopharma, said its recent acquisition of Guangdong Techpool Biopharma and a direct sales model in China boosted the company’s revenues in Q2 (see story). Asia-Pacific, Africa and Middle East saw revenues climb by 81%, though the company did not break out China sales separately. In November 2010, Nycomed announced it would spend $210 million to purchase a 51% stake in Techpool, a biologics company.
Merck Serono (Xetra: MRK), the biopharmaceutical division of Merck KGaA, has opened a China lab as part of its planned R&D hub in Beijing (see story). The lab, which has $5.8 million of equipment, will pursue individualized treatments for cancer, neural degenerative disease and autoimmune and inflammatory disorders.
SinoCubate (OTCBB: SBAT) announced its launch as an incubator/investor in privately held companies located in mainland China (see story). To begin operations, SinoCubate has signed up Wei Wei Zhang, MD, PhD as a director and member of senior management. Dr. Zhang is a serial China-US entrepreneur who has been instrumental in eight biotech startups, a background that indicates SinoCubate will be interested in biopharmas. Previously a shell company, SinoCubate will now start operating with $5 million in share-based capital.
Trials and Approvals
NexBio, a San Diego biotech startup, has released positive data from a Phase II trial of a novel biologic that aims to both treat and prevent infection by all flu strains (see story). The drug works by inhibiting entry of the virus into cells. NexBio was formed by a China husband-wife team who did their early academic work in China, and then moved to the US to earn biology PhDs. NexBio has been in the news recently because the FBI conducted a very public raid on the company’s offices, though neither the FBI nor the company has explained the object of the raid.
Disclosure: none.
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