Week in Review: Hengrui's US Spinoff Funded with $100 Million

Hengrui Therapeutics, a New Jersey offshoot of Jiangsu Hengrui Medicine, raised $100 million in initial funding from Jiangsu Hengrui and an unnamed investment firm; Spring Rain Software of Beijing raised $183 million in a pre-IPO round for its mobile healthcare app; Hutchison China MediTech received a $10 million milestone from AstraZeneca as part of their c-MET inhibitor partnership; HTIT, a Sinopharm affiliate, paid a $6.5 million milestone to Oramed Pharma following positive data from Oramed's oral insulin product; Apollo Hospitals, an Indian hospital operator, signed a MOU to build a hospital in Hainan Province; Ascletis Pharma of Hangzhou published positive data from a Phase II trial of its interferon-free HCV regimen; ASLAN Pharma of Singapore was granted US Orphan drug designation for varlitinib in gastric cancer; Nanjing Frontier reported its novel pain-relieving patch met trial endpoints in a US Phase II clinical test; Taiwan Liposome Company said the Phase I/II clinical trial of its arthritis drug is now fully enrolled; China announced a coordinated effort to improve healthcare coverage to the rural poor; and China's State Council established broad goals for a healthcare Big Data project. More details.... Stock Symbols: (SHA: 600276) (AIM/NSDQ: HCM) (NYSE: AZN) (NSDQ: ORMP) (IN: APHS) (TT: 4152) Share this with colleagues: // //