Week in Review: China Pharma Continues Record Deal Pace with $2 Billion in New Announcements

Deals and Financings - OrbiMed closed its third Asia private equity fund with $551 million in capital commitments, bringing its three Asia funds to almost $1 billion in total; - Innovent Biologics of Suzhou announced a $457 million deal to acquire global rights for an immuno-therapy candidate from the Chinese Academy of Sciences; - 3SBio of Shenyang will pay $290 million for the biologic contract development and manufacturing operations of Toronto 's Therapure; - Eight Roads, Fidelity Investment's venture arm, launched a $250 million China Healthcare Fund, its first fund dedicated to China healthcare; - WuXi NextCODE completed a Series B fundraising with $240 million in new capital for its genomics CRO operations; - Sisram Medical, an Israeli subsidiary of Fosun Pharma that makes laser-based aesthetic devices, will stage a $200 million Hong Kong IPO; - Beijing 's SinoVision Technologies raised $29 million in a B round to support its portfolio of CT scanners; - Shanghai Sanyou Medical, an orthopedic medical device maker, closed a $14 million B round from Yingke Private Equity; - China Medical Systems of Shenzhen will gain Asia rights (ex-Japan) to a MRSA candidate from Destiny Pharma, a British company; - TPG Capital Asia acquired a majority stake in OPC Holding Company, a Taiwan company that provides clinical trial services in China and southeast Asia; - Wuxi Fortune Pharma partnered with Andarix Pharma of Boston for China development of Tozaride, a radiolabeled cancer drug candidate; Company News - Lilly China notified its staff members that Lilly will close its five-year-old Shanghai R&D center, which has 200 employees, as part of a major company restructuring.   Stock Symbols: (HK: 1530) (SHA: 600196; HK: 02196) (NYSE: LLY) Share this with colleagues: // //