Week in Review: C-Bridge Raises $400 Million for Second China Healthcare Fund

Deals and Financings - C-Bridge Capital closed its second China life science fund at a $400 million cap; - iKang Healthcare and China Industrial Asset Management will raise up to $74 million to build and/or buy more iKang China clinics; - Cardinal Health, a US drug distributor, is seeking a buyer for its China drug operations, with bids expected between $1.2 and $1.5 billion; - Geneseeq, a Nanjing-Toronto sequencing company, closed a C funding round of at least $30 million; - PegBio of Suzhou raised $20 million in an E Round from Tasly Pharma for its extended-release products; - Uni-Bio Science of Hong Kong completed an $18.2 million private placement from HeungKong Group to open biopharma incubators and seek M&A deals; - Symbow Medical completed a $17 million Series A funding to develop its surgical navigation device; - The Shanghai-Israel Investment Fund and BRM Group of Israel co-led a $9 million Series B financing in Israel's Rapid Medical, a neurovascular device maker; Trials and Approvals - Lee's Pharm received CFDA approval for a Phase III trial of Pexa-Vec, an immunotherapy, in patients with advanced liver cancer; - Ascentage Pharma was granted IND approval for China trials of a novel Bcl-2/Bcl-XL inhibitor in patients with small cell lung cancer; - CStone Pharma of Suzhou was given permission to start China trials of its PD-L1 monoclonal antibody; Government and Regulatory - China will add 36 new drugs (31 of them chemical - 5 TCM products) to its list of insurance-covered products after their manufacturers agreed to deep price cuts. Stock Symbols: (NSDQ: KANG) (NYSE: CAH) (HKSE: 690) (HK: 0950)