Deals and Financings

Shenzhen Hepalink Pharma (SHZ: 002399) closed a $13 million investment in OncoQuest, the oncology subsidiary of Canada's Quest PharmaTech (TSX-V: QPT), giving Hepalink a 42% stake in OncoQuest (see story). OncoQuest is developing several immunotherapeutic antibodies to treat cancer. The two companies are also reported to be in talks on a $5 million JV to develop OncoQuest's products in China. Hepalink is a major global supplier of heparin API. 

Shanghai's ZAI Lab in-licensed China rights to a lung cancer drug candidate discovered by Hanmi Pharma (KRX: 128940) of Korea (see story). The molecule, HM61713, is a novel, third-generation, irreversible EGFR tyrosine kinase inhibitor that targets tumors with T790M mutations. Earlier this year, Hanmi out-licensed global rights for HM61713 to Boehringer Ingelheim in a $730 million deal, keeping rights to China and South Korea. Financial details of the agreement between ZAI and Hanmi were not disclosed. ZAI specializes in novel drugs for immunology and oncology indications. 

Lee’s Pharma (HK: 0950) acquired China commercialization rights to an anti-nausea from Solasia Pharma of Tokyo (see story). Sancuso® is a patch-delivery of granisetron, used to treat the nausea and vomiting caused by chemotherapy. Solasia will retain Sancuso distribution rights in Beijing, Shanghai and Guangzhou, while Lee's will market the drug in the rest of mainland China. Solasia submitted an NDA for CFDA approval of Sancuso in June 2014. 

Uni-Bio Science (HK: 690) of Hong Kong obtained worldwide rights to make and commercialize Jiangsu Hansoh Pharma's mitiglinide, an oral treatment for type 2 diabetes (see story). Hansoh has already won several provincial tenders for the drug. Using API from Hansoh, Uni-Bio will manufacture the drug in its CGMP-certified plant in Beijing. Uni-Bio will seek commercialization partners for ex-China markets. 

Company News

BGI, the Shenzhen-based genomics sequencing company, has re-purposed its US subsidiary, Complete Genomics of Mountain View, California, and ordered significant staff reductions (see story). When BGI bought CG in 2013, CG was a service provider, offering its Long Fragment Read technology for whole genome sequencing, which CG claimed provided more accurate readings. As recently as a month ago, CG's mission was to support commercial launch of its $12 million Revolocity genomic sequencer, a large, powerful machine with 200-300 potential global customers. Now, CG will support BGI's BGISEQ-500, a smaller desktop sequencer.  

Disclosure: ChinaBio has a business relationship with Solasia.