Did you know?

ChinaBio® Group is a consulting and advisory firm helping life science companies and investors achieve success in China. ChinaBio works with U.S., European and APAC companies and investors seeking partnerships, acquisitions, novel technologies and funding in China.  

Learn more >>

Free Newsletter

Have the latest stories on China's life science industry delivered to your inbox daily or weekly - free!

  Email address:
   

Week in Review: JHL Biotech Raises $35 Million for Taiwan-China Operations

publication date: Jun 21, 2014
 | 
author/source: Richard Daverman, PhD

Deals and Financings

JHL Biotech, a Taiwan-China biopharma, raised $35 million in a Series B financing (see story). The company was founded by Genentech and Amgen veterans who want to use their knowledge of innovative process development to make biologic drugs affordable. Even though the company was started only one and one-half years ago, it already has five biosimilars and one new molecular entity in development. JHL will use the money to expand its Taiwan facility and purchase additional equipment for its commercial plant in Wuhan, China, currently under construction.

Medisun International, a Hong Kong startup that plans to develop a portfolio of regenerative treatments for China, formed a JV with Cardio3 BioSciences of Belgium in a deal worth $65 million (see story). The JV will hold China rights to Cardio3’s stem cell treatment, C-Cure®. A clinical-stage product for congestive heart failure, C-Cure is based on stem cells that are guided toward becoming heart cells. Medisun will make a $38 million investment in Cardio3, giving it an 8% stake in the company. In addition, Medisun has committed at least $27 million to the China joint venture.

Meihua Holdings (SHA: 600873), a China specialty chemical company, will acquire Dalian Hissen Biopharm for $96.7 million (see story). In 2013, Hissen supplied 29% of China’s hepatitis B vaccine. However, because Hissen did not comply with China’s revamped good manufacturing standards (which took effect on December 31, 2013), its manufacturing operation was closed down at the end of last year.

Ark Biosciences, an innovative Shanghai biotech startup, has in-licensed rights to Roche's (VX: ROG) Respiratory Syncytial Virus (RSV) drug candidate, AK0529 (see story). Pre-clinical work on AK0529 has been completed. Ark will receive all of Roche’s data documentation for the drug along with its API. Roche will receive an upfront payment, milestones and royalties. Ark, which will manufacture the product, owns global rights to AK0529, including the right to sub-license.

3SBio of China out-licensed rights for its gout treatment to Selecta Biosciences, a US clinical stage company that develops antigen-specific immune treatments. Selecta intends to apply its Synthetic Vaccine Particle (SVP) platform to 3SBio’s pegsiticase (Uricase PEG-20) (see story). The goal is to refine the original drug so that it does not cause an immune response and create drug resistance. Selecta will have rights to pegsiticase and related products in the US and Europe, while 3SBio will retain rights in China and Japan.

Company News

Cellular Biomedicine (NSDQ: CBMG) began trading on the NASDAQ Capital Market this week (see story). The company is headquartered in Palo Alto, California, and it has two GMP facilities in China: one in Shanghai and the other in WuXi. Cellular Biomedicine develops cell therapy treatments for degenerative diseases and cancer, which it plans to market in China. Previously, Cellular Biomedicine was listed on the OTCQB exchange.

Trials and Approvals

Chia-Tai Tiangqing Pharma (CTTQ), a diversified China drug company headquartered in Jiangsu province, filed an IND with the CFDA to begin China clinical trials of its Recombinant Human Coagulation Factor VIII (see story). CTTQ in-licensed rights to the product from Alphamab, a biotech located in Suzhou’s BioBay Park. The two companies have been collaborating on developing the product since 2010.

Industry Insights

At last month’s ChinaBio® Partnering Forum, the participants agreed that every life science company needs a China strategy. If they don't have one, they need to start formulating one now (see story).  Entering China takes time – the China business climate is famous for its emphasis on personal relationships – and the innovative part of the country’s life science sector is progressing rapidly. China is growing and life science is benefitting from the growth. “There’s much to be gained on both sides, with benefits to a vast patient population,” concludes a recent BioWorld™ article.

Disclosure: none.


 

Share this with colleagues:

 

ChinaBio® News

Greg Scott BIO-Europe Interview
Greg Scott Interviewed at BIO-Europe Spring

How to bring your China assets to China in 8 minutes


Greg Scott Mendelspod Interview
"Mr. Bio in China."
Mendelspod Interview

Multinational pharma held to a higher standard in China

Partner Event
November 2-3, 2023 | Shanghai
November 7-8, 2023 | Digital