Deals & Financings

Chongqing Porton Secures $10 Million for Production Facility Mar 12, 2010: Chongqing Porton Fine Chemicals Co., a CMO, raised $10 million from the Chongqing DT Fund. The Chongqing DT Fund is a joint effort run by DT Capital of Shanghai and funded by the Chongqing Venture Capital Guidance Fund. Porton will use the money to build a state-of-the-art intermediate and API manufacturing facility in Changshou Chemical Park in Chongqing. More details...

TCT Medical Books $10 Million Investment from Fidelity Mar 11, 2010: TCT Medical Technology, a China medical device company that focuses on the OB/GYN market, has raised $10 million in new capital from two Fidelity funds. TCT claims to be the largest high-tech medical equipment and supplies importer in China within women’s health. It is the exclusive distributor in China of Cytyc’s ThinPrep pap test, the world’s leading cervical cancer screening product. More details...

EA Inc. Raises $6.6 Million from OrbiMed Mar 10, 2010: EA Inc., a company that makes invisible dental braces, completed a $6.6 million Series A financing led by OrbiMed, which provided “nearly all” of the funds, along with individual investors. OrbiMed characterized the financing as a restructuring of EA Inc. More details...

AutekBio to Build Largest Biologic CMO in Asia Mar 9, 2010: AutekBio, Inc., with headquarters in the Bay Area of California but operations in China, will build Asia’s largest biologic CMO facility in southern Beijing. To construct the facility, AutekBio signed a deal securing $100 million in venture capital from private and government sources. Contributing to the capital raise were SUMA Ventures and Beijing E-Town Harvest International Capital Management Corporation, Beijing’s Municipal Government’s venture capital group. More details...

Hutchison MediPharma May IPO within Two Years Mar 5, 2010: Chi-Med plans to spin off its drug development arm, Hutchison MediPharma, within two years, possibly through an IPO on the Nasdaq exchange. According to the company, the offering would be the largest Nasdaq IPO of a China biotech. At the same time, Hutchison MediPharma is seeking a partner for its lead product, HMPL-004, a treatment for ulcerative colitis that recently released positive results from a Phase IIb trial in the US. More details...

Stock Symbol: (AIM: HCM)

Mindray Raises $152.8 Million in Secondary Offering Mar 5, 2010: Mindray Medical (迈瑞医疗国际有限公司),, the medical device company, priced a secondary offering of 4 million American depositary shares at $38.20 per ADS, raising $152.8 million in new cash. Mindray closed the previous trading session at $38.00. Because Mindray seems to have plenty of cash, the offering was a surprise, and may indicate the company is eyeing some future acquisitions. More details...

Stock Symbol: (NYSE: MR)

Kalen to Offer Lipoprotein Research Products in China Mar 3, 2010: Kalen Biomedical of Maryland, US has found a partner to distribute its lipoprotein research products in China. MingRui Biotech Co., Ltd. of Shanghai, which is already involving in marketing biological reagents, will be Kalen’s China representative for its portfolio of cardiovascular research tools. More details...

WuXi PharmaTech Forms Pre-Clinical Collaboration with Janssen Mar 2, 2010: WuXi PharmaTech (药明康德) has struck a two-way pre-clinical services deal with Johnson & Johnson Pharmaceutical Research & Development, a division of Janssen Pharmaceutica N.V. WuXi PharmaTech will provide toxicology and other non-clinical services to Janssen, while Janssen will help WuXi attain GLP status in its new Suzhou toxicology lab. More details...

Stock Symbol: (NYSE: WX)

aTyr/Pangu Announces Second Matching Grant in Hong Kong Mar 1, 2010: aTyr Pharma has received a second 18-month grant to fund the research being carried out by its Hong Kong subsidiary, Pangu BioPharma. In Hong Kong, aTyr collaborates with the Hong Kong University of Science and Technology (HKUST). The grant, issued by The Innovation and Technology Commission of the Hong Kong government, matches research funds spent by Pangu-HKUST. More details...

Teva to Market Parkinson’s Drug in China for Lundbeck Feb 26, 2010: H Lundbeck A/S, a pharmaceutical company headquartered in Denmark, expanded its Asian sales agreement with Teva Pharma to include Azilect (rasagiline), a treatment for Parkinson’s disease. The agreement gives Teva the right to market Azilect in China and five other Asian countries. Lundbeck will be responsible for conducting clinical trials of the drug and obtaining SFDA approval. More details...

Stock Symbols: (CPH: LUN) (NSDQ: TEVA)