Charles River disappointed at low use of CRO lab in China
Thermo Fisher Scientific maker of laboratory equipment building second demo lab in Beijing
Perkin Elmer, maker of lab tools putting most of its China investments into diagnostics and genetic screening.
3SBio announced a strategic alliance with Ascentage Pharma Group Corporation, Ltd., a Shanghai-based company developing new chemical entities. The alliance will research, develop and commercialize best-in-class targeted cancer therapeutics focusing on programmed cell death, or apoptosis. 3SBio will make a $3 million equity investment in Ascentage to fund its drug development program in return for China rights to any drugs that are developed by the alliance.
Allele Biotechnology & Pharmaceuticals was granted a landmark patent with far-reaching claims in China in the RNA interference field. The patent covers compositions of DNA molecules that can be transcribed into RNAi-mediating RNA molecules, including the commonly used shRNA and miRNA-like designs. The patent also grants Allele Biotech rights to the process of introducing such DNA molecules into cells.
Private equity investors in Europe and the US currently find emerging markets an attractive investment, and over half of the respondents in a survey named China as their emerging market of choice. The survey was conducted by London-based Preqin, a company that tracks alternative investments such as private equity, hedge, real estate and infrastructure funds.
Gorbec Pharmaceutical Services, a North Carolina company that offers CRO and CMO services, will open a GMP-compliant analytical laboratory in Yantai, China, which is located in the northeast province of Shandong. The company said the new facility will expand its ability to provide analytical services in support of NDAs. Gorbec expects that clients from its US customer base as well as Asian biopharmas will take advantage of the labâ€™s offerings.
NeoStem priced a public offering of 5,000,000 shares of its common stock at $1.35 per share. NeoStem said it would use the proceeds from the offering to build manufacturing and lab facilities in China and the U.S., then to underwrite stem cell-related R&D projects, and finally to develop and license new pharmaceutical products in China.
In addition to its cancer initiative, 3SBio in-licensed the China rights to a phosphate binder, NephoxilÂ®, from Panacor Bioscience Ltd. of Taiwan. This acquisition is a natural fit to 3SBioâ€™s current business because phosphate binders are routinely prescribed for end stage renal disease. This is the same population served by 3SBioâ€™s major products, the recombinant anemia drugs EPIAO and TPIAO.
Simcere Pharma reported it received SFDA approval to manufacture and market Relenza (zanamivir), the flu treatment developed by GlaxoSmithKline . Relenza, an inhaled neuraminidase inhibitor, is one of only two approved drugs for treating H1N1 flu. Simcere holds an exclusive license for Relenza in China.
Celsis In Vitro Technologies (Celsis IVT) will distribute its drug discovery products in China through Research Institute for Liver Diseases . Celsis IVT makes in-vitro products for the ADMET market. RILD will market Celsis IVTâ€™s products to drug researchers in industry, academia and the government.
OrbusNeich has enrolled the first patient in a China clinical trial of its Genous Bio-engineered R stent. The stent, which has been available in Europe since 2005, is coated with an antibody that captures a patientâ€™s endothelial progenitor cells from the bloodstream. The company says the cells promote rapid healing of the blood vesselâ€™s lining, helping to protect against thrombus and to minimize restenosis.
Tianyin Pharma reported its revenues rose 48% during the companyâ€™s fiscal Q2 (ended December 31, 2009) to $14.9 million. Net income was up a smaller 25% at $2.6 million. When combined with a much larger number of shares outstanding, the companyâ€™s earnings per share actually slipped to 11 cps from 13 cps one year ago. Tianyin has traditionally been a TCM company, but it is branching into generic western drugs, with a special emphasis on macrolide antibiotics.