Week in Review: Suzhou's MabSpace Raises $15 Million for Antibody Program

MabSpace Biosciences, a Suzhou antibody discovery company, raised $15 million in a Series A funding, all of which came from Lilly Asia Ventures; China's state-owned CITIC Group made a takeover offer of undisclosed size for medical device maker Biosensors of Singapore; Cipla, one of India's top five drugmakers, will sell its 25% stake in China biosimilar company Biomab to its partner, for $26 million; Shandong Luoxin Pharma in-licensed China rights to a gastritis anti-ulcer drug from CJ Healthcare of South Korea in an $83 million deal; WuXi PharmaTech and Gilead Sciences partnered to operate a dedicated lab in Shanghai for Gilead's small-molecule drug candidates; BIT Group, a global medical device CMO, set up a second China manufacturing facility in Shenzhen; Hutchison MediPharma will receive a $10 million milestone from Lilly for proof-of-concept of cancer drug fruquintinib; Sichuan Revotek, a Chengdu medical device company, developed the world's first 3D printing system to make blood vessels using a stem cell-based bio-ink; Direct Genomics of Shenzhen revealed its GenoCare™ Analyzer, a single molecule genome sequencer; and Sinovac, a China vaccine maker, received approval from the CFDA to begin clinical trials of its chicken pox vaccine. More details.... Stock Symbols: (NYSE: LLY) (SI: BIOS) (BSE: 500087) (HK: 8058) (NSDQ: GILD) (NYSE: WX) (AIM: HCM) (SHA: 600466) (NSDQ: SVA) Share this with colleagues: // //