Chinese CRO giant WuXi PharmaTech is looking to expand its investment portfolio, planning to debut a $250 million new fund that will back startups in the U.S. and China.
Shanghai, Sydney, Singapore, Taipei and Seoul aim to be the biotech hubs in Asia, but San Diego-based CEO of industry group Biocom Joe Panetta said more investors and companies should look hard at Kobe, Japan.
Trialbee has raised $5 million to expand its clinical trial recruitment business in the U.S.
Collaboration between biotech companies from the U.S. and China is in a good state of flux as plays from "friends and family" and signs of growing venture capital and big pharma licensing deals are in motion at the same time, according to Andrew Chan, senior vice president of corporate business development for China only Nasdaq-listed biotech, Cellular Biomedicine Group.
Hong Kong-listed Hua Han Bio-Pharmaceutical Holdings said Wednesday it will raise HK$3.19 billion to HK$3.39 billion ($412 million to $437 million) from an open offer on the basis of one offer share for every two existing shares.
Chemistry and biology are joining hands in China in ways that will have a profound impact on biotechnology startups and more established companies, but it is still early days for many companies and more money from venture capitalists or other funding sources is welcome.
London startup TrialReach hauled in $13.5 million in Series B cash, funds that will help expand its technology designed to connect patients with their ideal clinical trials.
U.K. diagnostics outfit Atlas Genetics roped in $20 million in Series C financing to develop its ultrarapid point-of-care tests for infectious diseases, gearing up for a European launch of the product and expanding its foothold in a growing market.
Anyone with a passing interest in tech startups is unlikely to be shocked by Silicon Valley VC Andreessen Horowitz listing digital health as one of its top 16 trends. But as one of the organizations with some power over how these trends play out, the reasoning behind Andreessen Horowitz's list makes for interesting reading.
The deal gives Novartis access to the most active digital health VC team--Rock Health reports Qualcomm Ventures has struck 21 deals since 2011--and further strengthens the ties between the two companies.